Search For "creditors"
Pak to seek USD 3.7 bn in loans to offset virus impact
Updated : 5 years, 11 months ago IST
Islamabad [Pakistan], Mar 26 (ANI): Pakistan has decided to seek USD 3.7 billion additional financing from three multilateral creditors including another loan of USD 1.4 billion from the International Monetary Fund (IMF) to cope with the challenges faced due to the coronavirus outbreak.
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RCOM lenders reject Anil Ambani's resignation
Updated : 2 years, 4 months ago IST
Mumbai (Maharashtra) [India], Nov 24 (ANI): Reliance Communications Limited (RCOM) has rejected the resignations tendered by Anil Dhirubhai Ambani and four other directors, instructing them to continue holding their posts till the insolvency resolution process of RCOM is completed.
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Essar Steel Insolvency: SC sets aside NCLT order, upholds rights of lender
Updated : 2 years, 4 months ago IST
New Delhi [India], Nov 15 (ANI): The Supreme Court on Friday allowed a petition filed by Committee of Creditors of Essar Steel India and set aside the National Company Law Tribunal (NCLT) order which had provided for an equal distribution of proceeds between financial and operational credito
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NCLAT stays proceedings in Raheja Developers insolvency case, reserves ord
Updated : 6 years, 5 months ago IST
New Delhi [India] Oct 14(ANI/BusinessWire India): In a relief to Delhi based Raheja Developers Ltd, National Company Law Appellate Tribunal (NCLAT) has reserved its order in the case of insolvency proceedings and ordered a stay on Publication of Notices, Claims and Constitution of Committee
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Thomas Cook UK collapses, leaving thousands of European travellers strande
Updated : 6 years, 5 months ago IST
London [Britain], Sep 23 (ANI): The 178-year-old British tour operator Thomas Cook Group Plc has collapsed under a pile of debt after talks with creditors failed, stranding hundreds of thousands of travellers, but the move will not have any impact on its India operations.
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Parliament passes bill to amend IBC Code
Updated : 6 years, 7 months ago IST
New Delhi [India], August 1 (ANI): The Parliament on Thursday passed the Insolvency and Bankruptcy Code (Amendment) Bill, 2019 that provides a 330-day timeline for insolvency resolution process and specifies minimum payouts to operational creditors in any resolution plan.
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LS takes up for discussion Insolvency Code (Amendment) Bill
Updated : 6 years, 7 months ago IST
New Delhi [India], Aug 1 (ANI): The Lok Sabha on Thursday took up for discussion a Bill that seeks to provide a 330-day timeline for insolvency resolution process and specifies minimum payouts to operational creditors in any resolution plan.
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DHFL says it remains strong and solvent, resolution plan underway
Updated : 6 years, 8 months ago IST
Mumbai (Maharashtra) [India], July 15 (ANI): Despite the financial crisis at Dewan Housing Finance Corporation Limited (DHFL), the company said on Monday that it has withstood intense pressure and continues to remain strong and solvent.
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Creditors expect increase in realisations through IBC despite hiccups
Updated : 6 years, 10 months ago IST
New Delhi [India], May 19 (ANI): Innumerable litigations, defiant promoters, failing sectors and over-burdened National Company Law Tribunals (NCLTs) have negatively impacted corporate insolvency resolution process under the Insolvency and Bankruptcy Code (IBC) over the past two years, ac
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Dedicated bankruptcy court has rejected ArcelorMittal India's plea to set
Updated : 6 years, 10 months ago IST
Dubai [UAE] May 6 (ANI/BuisnessWire India): The committee of creditors has approved the RPIF plan by giving 73.17 per cent votes, confirmed Mayur Ghule, Director - Royale Partners Investment Fund.
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Promulgation of IBC ordinance to empower home buyers
Updated : 7 years, 9 months ago IST
New Delhi [India] Jun 6(ANI): Ministry of Corporate Affairs Secretary Injeti Srinivas opined that with the promulgation of the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018, home buyers will now be given the status of financial creditors.
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President gives nod to ordinance treating home buyers as creditors
Updated : 7 years, 9 months ago IST
New Delhi [India], Jun 6 (ANI): President Ram Nath Kovind on Wednesday gave his assent to promulgate the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018, providing significant relief to home buyers by recognising their status as financial creditors.
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