Asset reconstruction firm UVARCL was the shortlisted buyer for Aircel's assets and according to people aware, NCLT's Mumbai bench approved the plan but with some modifications. Aircel, which declared bankruptcy in March 2018, for failing to repay debt of…

The RBIs opposition to ARCs becoming resolution applicants (RA) could scuttle not just the Aircel plan but that of others such as Reliance Communications (RCom) as well. This would hurt state-run banks such as SBI, since they are the biggest lenders to companies…

At least a dozen big-ticket cases with total debt in excess of Rs 99,700 crore have been stuck for up to three years now due to legal challenges.

If NCLT allows, Kalrock Capital and Murari Lal Jalan would have to take the airline off the ground again at a time when the aviation industry globally is in financial distress due to the pandemic

Stock in Mumbai-listed Jet Airways India Ltd. has surged almost 150% this year versus a 42% plunge in the 27-member Bloomberg World Airlines Index, which comprises the globes biggest carriers.

The Supreme Court recently held that the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) will be applicable to co

Debt-ridden mortgage lender DHFL Ltd on Sunday said the Committee of Creditors (CoC) has approved resolution plan submitted by Piramal Capital and Housing Finance Limited

Billionaire Ajay Piramal's Piramal Group has emerged as the preferred bidder for debt-laden mortgage lender DHFL

“In this 14th meeting of the committee of creditors, the resolution for liquidation of the company was put to vote through e-voting as resolution plan was not submitted by any of the prospective resolution applicants despite repeated efforts, ” the company…

New scheme to yield faster resolution, cut costs and reduce litigation

Resolution plan by Kalrock Capital-Murari Lal Jalan receives NCLT approval but with a rider.

Subramanian stressed that before the introduction of the IBC five years ago, there used to be “feudalism where the corporate debtor took it to be his or her divine right to be in control (of their firm)”.