Surya Sarathi Ray
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Bid eligibility challenge: NCLAT clears the deck for Tata Steel and Vedanta
Ends all uncertainty on the success of awards relating to Bhushan Steel, Electrosteel Steels
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Tata-Mistry war: We might have to write…on how a judgment should be written, says NCLAT
The National Company Law Appellate Tribunal (NCLAT) on Wednesday made some sharp observations on the quality of language used by the Mumbai bench of the National Company Law Tribunal (NCLT) in its over 368-page order.
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Cyrus Mistry asks NCLAT to stay Tata Sons status change
Former Tata Sons’ chairman Cyrus Mistry on Tuesday urged the National Company Law Appellate Tribunal (NCLAT) to stay the proposed conversion of Tata Sons to a private limited company from its present status as a public limited one.
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Bhushan Power: NCLAT allows bids to be filed by August 13
The insolvency process for Bhushan Power and Steel (BPSL) is interestingly poised with the Supreme Court now set to hear Tata Steel’s appeal on August 10.
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TOT Model: NHAI plans to generate Rs 5360 crore from 8 projects in 4 states
The National Highways Authority of India’s (NHAI) on Monday issued request for proposals (RFP) for the second bunch of highway projects under the toll-operate-transfer (TOT) model.
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Trump tariff fallout: India becomes steel dumping ground; imports from China jump 67%, Japan 47% and Korea 35%
Imports from China jump 67%, Japan 47% and Korea 35% q-o-q in Q1FY19.
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Bhushan Power & Steel: NCLAT allows rebids by all
The National Company Law Appellate Tribunal (NCLAT) on Wednesday allowed the three bidders — Tata Steel, JSW Steel and Liberty House — in the fray for the bankrupt Bhushan Power and Steel (BPSL) to submit revised bids.
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Bhushan Power case: JSW Steel wants to submit revised bid
The ongoing corporate insolvency resolution process (CIRP) for Bhushan Power and Steel (BPSL) took an interesting turn on Friday with JSW Steel offering to submit a revised bid.
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Limited success for special textile package
The special package for the textile and garment sector, launched by the government in June 2016 and hailed by many as a potent tool for creation of decent jobs, has met limited success only.
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Amtek Auto goes to Liberty House
Lenders to auto-component maker Amtek Auto will have to take a haircut of around 65% and settle for Rs 4,404 crore against their outstanding dues of Rs 12,603 crore after the Chandigarh bench of the National Company Law Tribunal (NCLT) on Wednesday approved the resolution plan submitted by UK-based Liberty House.
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Bhushan Power: Little liberty for lenders to select winning bidder
Even though it is yet to take a call on whether the late submission of bid by Liberty House for the bankrupt Bhushan Power and Steel is valid or not, the National Company Law Appellate Tribunal (NCLAT) on Friday directed the committee of creditors (CoC) to convene its meeting, consider all the three bids — from Tata Steel, JSW Steel and Liberty House — decide the H1 and H2 bidders and submit the proposal to the National Company Law Tribunal for adjudication.
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Fight for Essar Steel: Arcelor to pay Uttam, KSS dues
NCLAT says firm can ‘remove its stains’ if found ineligible to bid; rival Numetal lacks this comfort.
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Bhushan Power Case: NCLAT raps RP on no voice for CoC
The two-member NCLAT bench, headed by chairman justice SJ Mukhopadhaya, said that “no voting can be held in the absence of any meeting.”
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Tata Steel, Liberty House, or JSW Steel, who will win Bankrupt Bhushan Power under IBC? Lenders to take call
Lifting its earlier stay order, the National Company Law Appellate Tribunal (NCLAT) on Thursday allowed lenders to Bhushan Power and Steel (BPSL) to go ahead with the resolution process for the bankrupt firm and approve an appropriate resolution plan, and place it before the adjudicating authority (NCLT) to seek its go-ahead.
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Ambitious 45 km/day target still a dream! Highway construction sees tepid growth; only 26 km/day being built
Construction of highways inched up to touch 26 km per day during the April-June period of the current year from 25 km in the year-ago period.
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Number of strikes falls 70% in January-March
Industry-labour relations have dramatically improved in the first three months of the current year as compared to the same period a year ago.
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Government’s crackdown on shell companies: Over 1000 companies may lose registration
As many as 1,313 “listed” entities that have failed to file their annual reports for two years face the prospect of being struck off the registrar of companies’ (RoC) database.
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Government has little to show on labour reforms front
RSS-affiliated Bharatiya Mazdoor Sangh (BMS) squarely blamed policymakers for neglecting the importance of tripartite mechanism needed to bring in large-scale labour reforms.
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Centre invites steel players to set up base in country
In line with its “Make in India” initiative, the government will invite big players, who manufacture machinery and build plants for the steel sector, to set up shops in the country.
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NDA government built 73 pct more highways than UPA’s last 4 years
The Narendra Modi government has built around 73% more national highways in its first four years till 2017-18 compared with the last four years’ in office of the previous UPA dispensation beginning 2010-11.
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Bhushan Power and Steel lenders likely to pick bidder next week
After a marathon meeting on Monday, lenders to Bhushan Power and Steel (BPSL) are likely to zero in on the most preferred bidder to take over the debt-laden firm next week.
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Insolvency proceedings: NCLAT stays action on Reliance Communications, tells it to pay Ericsson Rs 550 crore
The appellate tribunal noted the chairman/managing director/director of RCom would undertake to pay Rs 550 crore to Ericsson within 120 days. The company has time till September 30 to repay Ericsson and in case of non-payment the interim order with regard to the resolution process will continue, the NCLAT said.
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NCLAT Ruling: Decision on Essar Steel after July 23
A decision on the bankrupt Essar Steel was pushed back even further on Tuesday, with the National Company Law Appellate Tribunal scheduled to hear the case again only on July 23.
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‘Asset Stripping’: NCLT orders JAL to return land to Jaypee Infra
The Allahabad bench of the National Company Law Tribunal (NCLT) on Thursday ordered that 858 acres of land of bankrupt Jaypee Infratech (JIL) which was transferred by the firm to its holding company Jaiprakash Associates (JAL) be transferred back to the former as the transfer was “fraudulent, preferential and undervalued”.
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JIL Insolvency: Lakshadweep offers raised bid but CoC may await SC order
Lakshadweep, a joint venture between Sudhir Valia-led Suraksha ARC and Dosti Realty, will look at “improving” its bid for Jaiprakash Infrastructure (JIL) if an opportunity is afforded to it, sources close to the development told FE.
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ERA Infra: RBI’s dirty dozen now all in NCLT
Era owes banks little over Rs 10,000 cr; CBI booked UCO Bank ex-CMD in Rs 621-cr fraud.
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NCLT: Tata Steel appeals against Liberty bid
Tata Steel on Tuesday moved the National Company Law Appellate Tribunal (NCLAT) challenging an April 23 order of the National Company Law Tribunal
