All secured creditors of bankrupt Binani Cement (BCL) received their dues on Tuesday, a day after the Supreme Court allowed UltraTech Cement to acquire the cement firm under the corporate insolvency resolution process (CIRP).
Although flow of credit from lenders to mid-size microfinance institutions (MFIs) has improved significantly since last week, small MFIs are still facing the challenging situation on the back of liquidity stress. Microfinance
The company has three divisions—home care & personal care, pharma and industrial chemicals — with pharma, and home care & personal care divisions contributing around 65% and 30% of its total sales, respectively.
The Kolkata bench of the National Company Law Tribunal (NCLT) has admitted insolvency proceedings against West Bengal Mineral Development & Trading Corporation (WBMDTC), a government of West Bengal undertaking.
Srei Infrastructure Finance will not rush into launching an initial public offering (IPO) of its wholly-owned subsidiary Srei Equipment Finance (SEFL) as it feels the current overall market sentiments are ‘weak’.
Lenders to Adhunik Metaliks (AML) will take a haircut of around 92% and settle for Rs 410 crore against their outstanding dues of Rs 5,370 crore after the Kolkata bench of the National Company Law Tribunal (NCLT) on Tuesday a
The country’s largest storage battery maker Exide Industries has said it is witnessing a “big leap” in online sales of its products, with the company stepping up its offerings for online sales channel.
After Adhunik Metaliks (AML) received additional time to complete the ongoing insolvency resolution process, lenders are now negotiating with UK-based Liberty House for exploring opportunity to raise its offer for the bankrup
With Dalmia Bharat-controlled Rajputana Properties (RPPL) sticking to its demand for getting a copy of UltraTech Cement’s revised resolution plan, the Aditya Birla Group-owned cement major on Monday alleged that its rival b
The Calcutta High Court’s winding-up order against the defaulting Jai Balaji Industries (JBIL) has put State Bank of India (SBI) in a fix as its insolvency petition against the steelmaker is pending before the National Comp
Insolvency and Bankruptcy Board of India (IBBI) has come out with a regulation to ensure that fees payable to an insolvency professional and expenses incurred by him during the corporate insolvency resolution process (CIRP) a
While the committee of creditors (CoC) of Binani Cement is expected to consider a revised offer from UltraTech Cement along with the company’s resolution plan for the debt-laden cement maker on Monday, rival Dalmia Bharat-c
The resolution professional (RP) of insolvent Binani Cement has postponed the creditors’ meet, which was scheduled for Thursday, citing that the resolution plan submitted by UltraTech Cement in the “format acceptable” t
UltraTech Cement on Monday filed an application before the National Company Law Appellate Tribunal (NCLAT), seeking its direction to the resolution professional (RP) of Binani Cement to call a committee of creditors (CoC) mee