Mithun Dasgupta

Articles By Mithun Dasgupta

218 Articles

Exide sees ‘big leap’ in online battery sales as it steps up offerings

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.

Exide Industries, largest storage battery maker, exide battery online sakes, Tudor India, online sales channel News

Adhunik Metaliks: Liberty House resolution plan gets CoC go-ahead

The committee of creditors (CoC) of Adhunik Metaliks approved UK-based Liberty House’s resolution plan for the insolvent company on Thursday

DEBT, CREDITITORS News

Adhunik Metaliks CoC meets to mull clearing Liberty’s resolution plan

The committee of creditors (CoC) of Adhunik Metaliks (AML) met on Monday to consider approving the resolution plan for the insolvent company submitted by UK-based Liberty House, the highest bidder.

steel, steel industry, steel setor News

Jai Balaji case: HC recalls winding-up order; SBI to pursue insolvency plea

Providing relief to State Bank of India in the case of defaulting Jai Balaji Industries (JBIL), the Calcutta High Court has recalled its winding-up order against the debt-laden steel producer.

India News

Insolvency professionals may step down only on health, legal grounds

There have been a few instances where the NCLT has expressed concerns over resignation or unwillingness of IPs to continue as RP or act as liquidator.

Industry News

Adhunik Metaliks: Lenders negotiating with UK-based Liberty House to raise offer

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

Adhunik Metaliks,  insolvency, bankruptcy, Liberty House, National Company Law Tribunal, NCLT News

UltraTech: Dalmia Bharat delaying Binani resolution

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

UltraTech cement, Dalmia Bharat, binani cement, Aditya Birla Group News

SBI in a fix over High Court order on defaulting steel firm

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

SBI, calcutta high court, Jai Balaji Industries, National Company Law Tribunal, nclt News

Adhunik Metaliks: NCLT allows 20 more days to complete insolvency process

Bankrupt Adhunik Metaliks has received an additional 20 days to complete the ongoing insolvency resolution process.

Industry News

IBBI Regulation: Resolution professionals directed to charge fee that is ‘reasonable’

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

Economy News

Bankruptcy litigation taking focus away from resolution process, says President of MN Dastur & Co

Too many litigations in insolvency resolution process are consuming time and it will eventually dilute the focus of putting the insolvent steel companies back on a productive track.

Commodities News

Uco Bank to recover ‘major amount’ via NCLT

State-run Uco Bank expects to recover a “major amount” from its bad assets through NCLT route as accounts eligible for insolvency resolution are being explored ‘vigorously’.

Uco Bank, Uco Bank net loss, Uco Bank NPA News

Adhunik Metaliks case: NCLT reserves order on extra time

As per the Insolvency and Bankruptcy Code norms, an insolvent company is to be liquidated if during the moratorium of nine months no successful resolution plan is in place.

Adhunik Metaliks case, NCLT, RP News

Binani Cement’s lenders opt for UltraTech’s bid

Will mean all financial, operational creditors will get complete dues

Binani Cement, UltraTech, Electrosteel Steels, NCLT, Dalmia Bharat, supreme court,  Insolvency and Bankruptcy Code News

Binani Cement: Dalmia Bharat again moves apex court on NCLAT order

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 appellate tribunal on May 15 was hearing UltraTech's plea, seeking its direction to the RP to call a creditors' meet in order to consider its revised bid of around Rs 7,900 crore for the insolvent cement maker. News

Binani RP postpones creditors’ meet

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, binani News

Binani Cement: UltraTech moves NCLAT for direction to RP for calling CoC meet

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

Binani Cement, Binani, Supreme Court, Insolvency and Bankruptcy Code, Binani Industries  News

Adhunik Metaliks: NCLT keeps issue of additional time open

According to a source close to the development, “Edelweiss ARC's plan was rejected in the first round of bidding for Adhunik Metaliks, and in the second round, the company did not submit its plan.”

Adhunik Metaliks, NCLT, RP, IBC News

Bid for Binani: Dalmia Bharat moves SC against NCLT nod to UltraTech’s new bid

The battle for Binani Cement took another turn on Tuesday with Dalmia Bharat moving the Supreme Court.

nclt, nclat, dalmia bharat, supreme court, ultratech News

Binani Cement: Dalmia Bharat moves NCLAT against NCLT direction

Dalmia Bharat filed an application before the appellate tribunal, challenging the NCLT order dated May 2.

Binani Cement, Dalmia Bharat,NCLAT,NCLT News

Race for Binani Cement: Consider UltraTech’s new bid – NCLT to CoC

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

Binani Industries, binani cement, Out of court settlement, committee of creditors News

Adhunik Metaliks RP seeks additional 20 days to consider Liberty House plan

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.

Bhushan Power , nclt, National Company Law Tribunal, adhunik News

Insolvency process: Adhunik Metaliks RP likely to seek more time

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

For Adhunik Metaliks, there are only two resolution applicants — UK-based Liberty House and Maharashtra Seamless of the DP Jindal Group. News

Adhunik Metaliks may head for liquidation as resolution deadline approaches

The mandated 270-day deadline under the corporate insolvency resolution process will end on April 29

For the company, the mandated 270-day deadline under the corporate insolvency resolution process (CIRP) will end on April 29. News

‘Flawed’ negative marking cost us H1 slot: UltraTech

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

UltraTech Cement,  National Company Law Tribunal, binami cement, Competition Commission of India, Dalmia Bharat News

Attaining closure: Vedanta gets NCLT nod for Electrosteel

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.

vedanta, NCLT, electrosteel News

Binani Cement resolution: Exim Bank claims ‘discrimination’ in process

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

binani cement, binani cement resolution, exim bank News
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