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The IBC which is still evolving law is in certain senses a complete paradigm shift in compared to earlier laws as its focus is also to ensure and allow ease of exit for aggrieved corporate, pointed out chairman M.M. Kumar. Photo: iStockphoto

Sat, Apr 21 2018. 05 23 PM IST

Right to equality can be invoked if COC violates bankruptcy code: NCLT chairman

NCLT chairman justice M.M. Kumar says Article 14 of the Constitution (right to equality) can be invoked if the committee of creditors violates the Insolvency and Bankruptcy Code law

Vedanta’s debt resolution plan for the bankrupt Electrosteel Steels was approved by the National Company Law Tribunal (NCLT) last week. Photo: Reuters

Fri, Apr 20 2018. 09 21 PM IST

Vedanta’s Electrosteel acquisition credit neutral: Report

Vedanta’s acquisition of Electrosteel Steels is credit neutral on the resources major as it will have only a marginal impact on its overstretched balance sheet, says an India Ratings report

Minority shareholders may think they are getting a raw deal but that’s incorrect. Graphic: Vipul Sharma/Mint

Fri, Apr 20 2018. 09 23 AM IST

Investors in IBC companies face a harsh reality

The Electrosteel Steels resolution case is unlikely to be an exception and retail investors are better off not hunting for bargains

The NCLT order invalidates the second round of bidding for Essar Steel’s assets, held on 2 April.

Thu, Apr 19 2018. 11 26 PM IST

NCLT puts ArcelorMittal, Numetal back in the race for Essar Steel

NCLT Ahmedabad has set aside Essar Steel IRP’s decision to disqualify the first round of bidding and extended by a month the deadline for filing a debt resolution plan

Numetal and ArcelorMittal had moved the NCLT over their disqualification in the first round of bidding for Essar Steel claiming that rules had been followed before submitting their bids. Photo: Bloomberg

Thu, Apr 19 2018. 08 49 PM IST

NCLT directs Essar Steel lenders to consider Numetal, ArcelorMittal bids

NCLT asked the consortium of 31 lenders and the RP of Essar Steel to reconsider the bids submitted by both Numetal and ArcelorMittal

Dalmia Bharat has submitted with NCLT a Rs6,932.46 crore debt resolution plan for Binani Cement. Photo: HT

Thu, Apr 19 2018. 02 12 AM IST

Dalmia-Binani deal: I-T dept seen taking a haircut if NCLT clears takeover bid

Dalmia Bharat, as part of its debt resolution plan for Binani Cement, has proposed to pay Rs33.10 crore to settle statutory dues estimated at Rs177.50 crore

RBI deputy governor N.S. Vishwanathan has defended the new bad loan rules announced in February, saying they were aimed at improving credit culture and nudging banks to be proactive in tackling NPA accounts. Photo: Abhijit Bhatlekar/Mint

Wed, Apr 18 2018. 11 47 PM IST

No relaxation in new bad loan rules, indicates RBI

RBI’s new bad loan rules stipulate that banks must implement a debt resolution plan within 180 days for NPA accounts worth at least Rs2,000 crore

The last date for submission of applications is 19 April and for submission of resolution plan is 23 April. Photo: Bloomberg

Wed, Apr 18 2018. 06 55 PM IST

Fresh bids invited for ABG Shipyard under IBC

Expressions of interest (EoIs) have been invited from potential bidders for ABG Shipyard under Insolvency and Bankruptcy Code

UltraTech Cement had once again raised its offer to Rs8,000 crore to acquire Binani Cement, a move that was rejected by the bankrupt firm’s lenders. Photo: HT

Tue, Apr 17 2018. 09 42 PM IST

Stuck to norms while denying UltraTech bid: Binani Cement lenders

Dalmia Bharat has been declared the top bidder for Binani Cement and a debt resolution plan with its Rs6,700 crore bid has been filed with NCLT Kolkata

Electrosteel Steels owes lenders more than Rs13,000 crore, of which about Rs5,000 crore to State Bank of India alone. Photo: Reuters

Tue, Apr 17 2018. 05 49 PM IST

Electrosteel Steels first from RBI’s dirty dozen to exit bankruptcy

NCLT cleared the resolution plan of Electrosteel Steels Ltd, approved by the CoC with a voting share of 100% , submitted by Vedanta

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