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
Bringing UltraTech back in the race for Binani Cement,the National Company Law Tribunal (NCLT) on Wednesday asked the resolution professional (RP) and the committee of creditors (CoC) to consider the revised offer from the co
The 270-day deadline under the corporate insolvency resolution process for the debt-laden steel maker expired on Sunday, and during this period, no resolution plan for the company was approved by its Committee of Creditors.
What is of grave concern for the bankrupt company is the fact that the mandated 270-day deadline under the CIRP expired on Sunday, and during this period no resolution plan for the insolvent company was approved by its lender
UltraTech Cement on Thursday urged the Kolkata bench of the National Company Law Tribunal (NCLT) to reject rival bidder Rajputana Properties’ plan and accept its revised resolution plan for debt-laden Binani Cement on the g
The entire amount, the company said in a statement, would be used to pay financial creditors. This implies the lenders are taking a fairly large haircut of 60% given the company’s outstanding debt is Rs 13,175.15 crore.
Significantly, the tribunal heard the case on Monday after Binani Industries (BIL), the promoter of Binani Cement, on last Friday withdrew its appeal for termination of the insolvency process against its subsidiary, with the