RBI cancels license of a Mumbai-based CKP co-operative Bank
On Saturday, the Reserve Bank of India announced the cancellation of a CKP Co-operative bank’s license to operate. The cancellation will come into effect from the close of business on…
LN Mittal all set to take over Essar Steel after NCLT gives nod to ArcelorMittal’s resolution plan
After the Ahmedabad bench of NCLT approved the debt resolution plan of ArcelorMittal’s take over plan of debt ridden Essar Steel, Steel tycoon LN Mittal is all set to enter…
Essar Steel : NCLT gives approval to debt resolution plan of ₹42,000 by ArcelorMittal
National Company law Tribunal (NCLT) on Friday cleared the ArcelorMittal’s ₹42,000 crore resolution plan for debt ridden Essar Steel’s takeover. The judgement by the NCLT’s Ahmedabad bench comes a week…
NCLAT directs Ahmedabad NCLT bench to take decision in Essar Steel debt resolution plan by march 8
The National Company Law Appellate Tribunal (NCLAT) asked the NCLT‘s Ahmedabad bench to decide over the pending resolution plan by ArcelorMittal for debt ridden Essar Steel of ₹42,000 Crore. The…
NBCC bids for acquiring bankrupt Jaypee Infratech
National Building Construction Corporation (NBCC) bids to acquire the bankruptcy ridden Jaypee Infratech of Jaypee Group. The real estate company which has been going through a financial crises is looking…
As RBI gets tough on power companies, Supreme Court grants interim stay
The apex court on Tuesday halted the insolvency proceedings providing interim relief to power companies, textile companies and ship owners. The order holds the Reserve Bank of India’s February 12…