Page 15 - Nclt
Reliance Naval gets five EoIs from investors, deadline ends Saturday
The US-based fund, Interups, has submitted the EoI, apart from Arcil, APM of Denmark, United Shipbuilding Corp of Russia, and Next Orbit Ventures
 "Reliance Naval gets five EoIs from investors, deadline ends Saturday")
NCLT reserves order on SBI plea to recover Rs 1,200 cr from Anil Ambani
In early 2019, Reliance Communications, once the flagship company of the Anil Ambani-led Reliance group, had filed for bankruptcy
 "NCLT reserves order on SBI plea to recover Rs 1,200 cr from Anil Ambani")
Creditors move NCLT; seek bigger claim in Vasan Health Care insolvency case
The petition was filed by some of the creditors, mainly private financiers, seeking more amount of claim to be accepted by the Resolution Professional as part of the process
 "Creditors move NCLT; seek bigger claim in Vasan Health Care insolvency case")
US-based firm betters JSW offer in race for Asian Colour Coated Ispat
New US-based bidder offers better deal than JSW
 "US-based firm betters JSW offer in race for Asian Colour Coated Ispat")
NCLT allows Jet Airways to sell office in Mumbai's Bandra Kurla Complex
The property is non-core asset of the grounded airlines, which was never used by Jet as part of its airlines business
 "NCLT allows Jet Airways to sell office in Mumbai's Bandra Kurla Complex")
IL&FS exit a big boost for Gift City
The infrastructure is ready. Right regulations and tax regime are a must for its success as an international finance centre
Hail the verdict and appeal against it!
Cyrus Mistry's reinstatement as chairman and director of the Tata companies for the rest of his tenure was symbolic at best as he hardly had any significant tenure left
Revised inter-creditor pacts may do away with need for 66% lenders' nod
Banks will be able to customise ICAs in accordance with their needs even as more financial stakeholders are on-boarded, including those with foreign currency exposures
 "Revised inter-creditor pacts may do away with need for 66% lenders' nod")
Delay in projects to impact profitability in FY21, says Cochin Shipyard
There will not be any additional impact due to liquidated damages for delay in running projects as it has already invoked Force Majeure clause available in all the contracts
 "Delay in projects to impact profitability in FY21, says Cochin Shipyard")
NCLAT quashes NCLT order making MCA a party to all IBC proceedings
Allowing the plea filed by the MCA, a two-member bench of the appellate tribunal said the NCLT's direction was "beyond the power" and amounted to "imposition of a new rule in a compelling fashion".
 "NCLAT quashes NCLT order making MCA a party to all IBC proceedings")
NCLAT's resolution professional ruling: Several bankruptcy cases face delay
National Company Law Appellate Tribunal (NCLAT) had ordered that a former bank official cannot be appointed as a resolution professional (RP) in a company facing bankruptcy
Covid-19 won't impact us, examining if we need pay cuts: JSW Energy CEO
The privatisation of distribution in Union Territories is a positive move by the government, says Prashant Jain, joint MD & CEO of JSW Energy
 "Covid-19 won't impact us, examining if we need pay cuts: JSW Energy CEO")
New-look inter-creditor agreement on the cards as IBC process suspended
The Indian Banks' Association can be expected to begin formal discussions with the wider banking fraternity over the next fortnight
 "New-look inter-creditor agreement on the cards as IBC process suspended")
NCLT orders insolvency procedure for Eason Reyrolle on SBI, Canara plea
The banks together claimed over Rs 230 crore from the company, along with interest and other charges
NCLT cancels this year's summer vacation for all benches across the country
The Delhi-based principal bench was scheduled to go on summer vacation in the month of June.
 "NCLT cancels this year's summer vacation for all benches across the country")
Jet lenders to take a call on fresh EoIs, voting to conclude by May 18
If lenders favour fresh EoIs, this will be the third time they would have called for EoIs. No positive result in previous two attempts as no party came forward with a concrete plan
Both debtors & creditors will be wary of using IBC in short term: M S Sahoo
As the banking system gears up to support businesses in face of defaults due to Covid 19, resolution of stressed assets could be the next big task for system, says M S Sahoo
 "Both debtors & creditors will be wary of using IBC in short term: M S Sahoo")
RIL's Q4 PBT falls 33% to Rs 9,223 cr due to pressure in petrochemicals biz
The company looks to raise Rs 53,125 crore through this rights issue, which will be the first by RIL in three decades
 "RIL's Q4 PBT falls 33% to Rs 9,223 cr due to pressure in petrochemicals biz")
Banks want IBC proceedings in all pending cases to be suspended for 2 years
Fall in valuation, lack of demand cited as reasons
 "Banks want IBC proceedings in all pending cases to be suspended for 2 years")
Cash-strapped DHFL not to make any payment to lenders, bondholders
The Corporate Insolvency Resolution Process (CIRP) was initiated against the debt-ridden company as per the provisions of the Insolvency and Bankruptcy Code, 2016 with effect from December 3, 2019
 "Cash-strapped DHFL not to make any payment to lenders, bondholders")
