Articles for Bankruptcy Proceedings

Vijay Mallya pursues annulment of UK bankruptcy order over ‘unreal quality’
1 month ago

Vijay Mallya pursues annulment of UK bankruptcy order over ‘unreal quality’

Live Mint  

London, Embattled businessman Vijay Mallya believes Indian banks pursuing bankruptcy proceedings against him in the English courts have assumed an “unreal quality” in the wake of Union Finance Minister Nirmala Sitharaman’s recent statement in Parliament and has instructed his lawyers to pursue an annulment application. “From Dr Mallya’s perspective, these English bankruptcy proceedings have an unreal quality,” Leigh Crestohl, Managing …

India Indian Order Bankruptcy Parliament Mallya Bankruptcy Proceedings
Bankruptcy proceedings against Culture Club members dismissed
1 year, 9 months ago

Bankruptcy proceedings against Culture Club members dismissed

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Bankruptcy proceedings brought against Culture …

Culture High Court Court Club Craig George Moss
NCLT reserves order on Go First’s plea for interim moratorium, bankruptcy
1 year, 10 months ago

NCLT reserves order on Go First’s plea for interim moratorium, bankruptcy

Hindustan Times  

The principal bench of the National Company Law Tribunal on Thursday reserved its order on a plea by Go First seeking an interim moratorium to prevent the seizure of its 26 aircraft. Go First filed for insolvency resolution proceedings in the National Company Law Tribunal on Tuesday The cash-strapped airline Go First filed for bankruptcy on Tuesday and as an …

Nclt
Tory MP facing bankruptcy proceedings given time to raise money
2 years, 10 months ago

Tory MP facing bankruptcy proceedings given time to raise money

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A judge has given a …

Tory Mp Afriyie Judge Barber Bankruptcy Proceedings Mr Afriyie
Liquor Tycoon Vijay Mallya Denied Permission to Appeal in UK Bankruptcy Case
4 years, 2 months ago

Liquor Tycoon Vijay Mallya Denied Permission to Appeal in UK Bankruptcy Case

News 18  

Liquor tycoon Vijay Mallya was on Wednesday denied permission to appeal against a UK High Court order refusing to dismiss bankruptcy proceedings brought by a consortium of Indian banks led by the State Bank of India, in their pursuit of debt related to his now-defunct Kingfisher Airlines. The 65-year-old businessman, who remains on bail in the UK, had filed a …

Appeal Court Bankruptcy Hearing Proceedings Mallya Indian Banks
IL&FS To File Bankruptcy For Two of Its Offshore Firms In Courts of UAE
4 years, 6 months ago

IL&FS To File Bankruptcy For Two of Its Offshore Firms In Courts of UAE

News 18  

New Delhi: Debt-ridden IL&FS has proposed to initiate bankruptcy proceedings for two of its offshore firms – ITNL Infrastructure Developers LLC and ITNL International DMCC – in the courts of the UAE. IL&FS had request the Mumbai-bench of the National Company Law Tribunal to take on record its proposal to initiate the bankruptcy proceedings before the Dubai Courts under UAE …

Nclt Itnl Bankruptcy Proceedings Iipl Iidmcc Iidl
PNB Receives Rs 24 Crore from US Bankruptcy Proceedings of 3 Nirav Modi-promoted Firms: Govt
4 years, 7 months ago

PNB Receives Rs 24 Crore from US Bankruptcy Proceedings of 3 Nirav Modi-promoted Firms: Govt

News 18  

The Ministry of Corporate Affairs on Tuesday said Punjab National Bank has received over Rs 24 crore as the first tranche of recoveries from bankruptcy proceedings of three Nirav Modi-promoted companies in the US. In 2018, the lender had informed the ministry that three companies promoted by Nirav Modi — Firestar Diamond, Inc, A Jaffee, Inc and Fantasy, Inc had …

Bank New York Bankruptcy Ministry Modi Pnb Nirav
AP: Catholic Church lobbied for taxpayer funds, got $1.4B
4 years, 8 months ago

AP: Catholic Church lobbied for taxpayer funds, got $1.4B

Associated Press  

NEW YORK — The U.S. Roman Catholic Church used a special and unprecedented exemption from federal rules to amass at least $1.4 billion in taxpayer-backed coronavirus aid, with many millions going to dioceses that have paid huge settlements or sought bankruptcy protection because of clergy sexual abuse cover-ups. Even without a full accounting, AP’s analysis places the Catholic Church among …

Religious Abuse Catholic Church Organizations Congress Trump Pennsylvania
RBI forms advisory committee to assist DHFL in bankruptcy proceedings
5 years, 4 months ago

RBI forms advisory committee to assist DHFL in bankruptcy proceedings

The Hindu  

The Reserve Bank of India has formed a three-member advisory committee to assist the administrator of troubled mortgage lender DHFL. Venkatesh, Chief Executive, Association of Mutual Funds in India, are part of the advisory committee Earlier the RBI had superceded the Board of the home financier and appointed former MD&CEO of Indian Overseas Bank, R Subramaniakumar, as the Administrator. “The …

Bank Rbi Banks Dhfl Bankruptcy Proceedings
HDIL not servicing its loans for 3 years, says suspended PMC chief
5 years, 6 months ago

HDIL not servicing its loans for 3 years, says suspended PMC chief

Live Mint  

Mumbai: Housing Development & Infrastructure Limited has not been servicing its loans worth ₹2,500 crore from Punjab and Maharashtra Cooperative Bank for the past two-three years, Joy Thomas, the suspended managing director of the crisis-hit bank said on Friday. Speaking to reporters, Thomas said that PMC has had a banking relationship with the group since 1989-1990, but the loan amount …

Mumbai Bank Loans Pmc Rbi Thomas Pmc Bank
Debt collectors are bankrupting Australians over small credit card debts
5 years, 7 months ago

Debt collectors are bankrupting Australians over small credit card debts

ABC  

For Kim Forrest and her husband, money has always been tight, but they have managed and, until recently, believed they were on track for retirement. Key points: People can end up being bankrupted over debts as small as $5,000 Consumer advocates are alarmed by the number of clients with small debts taken to court by Lion Finance Last financial year …

Financial Credit Debt Bankruptcy Card Collins Small
How will Jet’s insolvency process play out?
5 years, 9 months ago

How will Jet’s insolvency process play out?

The Hindu  

The story so far: Jet Airways, the troubled private airline that has failed to meet its huge debt obligations, was admitted to the National Company Law Tribunal on Thursday. Mr. Goyal’s exit may give Jet’s lenders the confidence to infuse more money in case they decide to make the airline fully operational. Jet Airways is the first airline company in …

India Money Debt Bankruptcy Airline Nclt Goyal
Adani's new law firm put forward 'trained attack dog' strategy for waging legal 'war'
6 years, 1 month ago

Adani's new law firm put forward 'trained attack dog' strategy for waging legal 'war'

ABC  

Lawyers for mining firm Adani proposed waging "war" on opponents of its controversial Queensland mine by using the legal system to pressure government, silence critics and financially cripple activists, according to documents obtained by the ABC. Key points: Law firm AJ & Co promised to be Adani's "trained attack dog" The firm launched bankruptcy proceedings against an Indigenous mine opponent …

Social Media Legal Attack Strategy Adani Supplied Queensland
Fugitive Vijay Mallya to face fresh trouble as UK court orders bankruptcy proceedings against him
6 years, 3 months ago

Fugitive Vijay Mallya to face fresh trouble as UK court orders bankruptcy proceedings against him

Op India  

Trouble seizes to stop for the liquor baron Vijay Mallya, as a UK court has now begun bankruptcy proceedings against the fugitive business tycoon. According to reports, Vijay Mallya is facing bankruptcy proceedings in a London court brought by a consortium of lenders led by the State Bank of India and 12 other banks. When Sunday Times approached Vijay Mallya …

India London Court Indian Bank Kingfisher Vijay Mallya
Bankers race to resolve Rs 3.8 trillion bad loans for around 70 accounts as 6-month RBI deadline ends today
6 years, 7 months ago

Bankers race to resolve Rs 3.8 trillion bad loans for around 70 accounts as 6-month RBI deadline ends today

Firstpost  

Banks are trying to come up with a resolution plan for these accounts as going to NCLT will mean large haircuts. Mumbai: With the six-month deadline set by Reserve Bank to finalise resolution plans for around 70 large stressed accounts worth over Rs 3.8 trillion ending on 27 August, banks are burning the midnight oil to avoid bankruptcy proceedings against …

Bank Nclt Rbi Banks Accounts Ends Today Bankers
Bankers rush to finalise plans to resolve problem of NPAs worth Rs 3.8 trillion ahead of RBI's 27 August deadline
6 years, 7 months ago

Bankers rush to finalise plans to resolve problem of NPAs worth Rs 3.8 trillion ahead of RBI's 27 August deadline

Firstpost  

Mumbai: With the six-month deadline set by Reserve Bank to finalise resolution plans for around 70 large stressed accounts worth over Rs 3.8 trillion ending on Monday, banks are burning midnight oil to avoid bankruptcy proceedings against these defaulters who are mostly power producers. “A few banks have already sanctioned resolution plans for some cases and others are in the …

Bank Nclt Rbi Banks Accounts Resolution Plans 27 August
Boris Becker’s diplomatic passport is fake, claims Central African Republic foreign minister
6 years, 9 months ago

Boris Becker’s diplomatic passport is fake, claims Central African Republic foreign minister

Firstpost  

The Central African Republic said on Tuesday that a diplomatic passport that tennis star Boris Becker claims entitles him to immunity in bankruptcy proceedings in Britain “is a fake” Bangui: The Central African Republic said on Tuesday that a diplomatic passport that tennis star Boris Becker claims entitles him to immunity in bankruptcy proceedings in Britain “is a fake”. “The …

France Car Diplomatic Britain German Passport Central African Republic
Vedanta to buy 90% of Electrosteel: IBC is a big winner for ailing banks but the judiciary can still spoil party
6 years, 9 months ago

Vedanta to buy 90% of Electrosteel: IBC is a big winner for ailing banks but the judiciary can still spoil party

Firstpost  

India’s judiciary would do well to stay out of bankruptcy proceedings, critical for the survival of the NPA-ridden banking sector. Yet another bit of encouraging news, for India’s ailing banking sector, surfaced when Anil Agarwal-promoted Vedanta Ltd said it has assumed control of distressed Electrosteel Steels Ltd under a resolution plan following the order of the National Company Law Appellate …

India Banking Loans Bankruptcy Crore Sector Rbi
Supreme Court restrains Amrapali group directors from leaving country
7 years, 5 months ago

Supreme Court restrains Amrapali group directors from leaving country

India TV News  

The Supreme Court on Friday restrained the directors of real estate major Amrapali Group from leaving the country without its permission. A bench headed by Chief Justice Dipak Misra issued a notice to the company and sought its reply within two weeks on a plea filed by Amrapali Silicon City Flat Owners Welfare Society. In a similar petition by 100 …

Amrapali
Essar Steel verdict a win for RBI, but fight against bad loans far from over
7 years, 8 months ago

Essar Steel verdict a win for RBI, but fight against bad loans far from over

India TV News  

The Gujarat High Court’s verdict rejecting Essar Steel’s petition seeking reprieve from the initiation of bankruptcy proceedings against it over loans totaling Rs 45,000 crore that it owes to banks has been seen as a major shot in the arm for the Reserve Bank of India and banks in the fight against bad loans. On Monday, July 17, the Gujarat …

Court Insolvency Debt Steel Bankruptcy Nclt Proceedings
Bankruptcy proceedings against Monnet Ispat, Alok Industries get NCLT nod
7 years, 8 months ago

Bankruptcy proceedings against Monnet Ispat, Alok Industries get NCLT nod

Hindustan Times  

Bankruptcy proceedings against Monnet Ispat and Energy Ltd and Alok Industries Ltd were approved by different benches of the National Company Law Tribunal on Tuesday. Monnet Ispat and Alok Industries are among the 12 large NPA accounts that RBI has identified for immediate bad loan resolution under the insolvency and bankruptcy code. They become the second and third among the …

Bank Bankruptcy Nclt Proceedings Rbi Industries Sbi
Sensex rises; banks up as RBI cracks down on large loan defaulters
7 years, 9 months ago

Sensex rises; banks up as RBI cracks down on large loan defaulters

Firstpost  

The Nifty PSU Bank Index gained as much as 0.79 percent, with top lenders State Bank of India up as much as 0.7 percent and Canara Bank Ltd rising as much as 1.8 percent. Indian shares rose on Monday as lenders such as State Bank of India gained after the central bank asked banks to start banktruptcy process against 12 …

Bank Rbi State Bank Of India Loan Defaulters Bankruptcy Proceedings
Bhushan, Essar Steel among 12 firms being moved to insolvency courts, sources to Reuters
7 years, 9 months ago

Bhushan, Essar Steel among 12 firms being moved to insolvency courts, sources to Reuters

Firstpost  

The RBI has yet to officially name any of the 12 companies, which account for about 2 trillion rupees of India’s non-performing loans, or roughly 25 percent of all the country’s bad loans. The Reserve Bank of India has asked lenders to initiate bankruptcy proceedings against a dozen companies, including Essar Steel, Bhushan Steel Ltd, Monnet Ispat and Energy Ltd, …

India Steel Rbi Essar Steel Bankruptcy Proceedings
RBI says 12 accounts with 25% of bank bad loans identified for bankruptcy proceedings
7 years, 9 months ago

RBI says 12 accounts with 25% of bank bad loans identified for bankruptcy proceedings

Live Mint  

Mumbai: The Reserve Bank of India on Tuesday said 12 accounts representing about 25% of the gross bad loans in the banking system would be eligible for immediate reference for bankruptcy proceedings. An internal panel of the central bank has suggested that accounts with outstanding amounts of more than Rs5,000 crore, of which at least 60% was classified as non-performing …

Bank Bankruptcy Nclt Banks Ibc Bad Loans Iac