Free Press Journal
  • ArcelorMittal gets CCI nod for Essar Steel acquisition

    New Delhi : The Competition Commission has approved the acquisition of debt-ridden Essar Steel by a consortium of ArcelorMittal and Japan’s Nippon Steel & Sumitomo Metal Corporation.

  • Daiichi seeks stay on insolvency plea against RHC

    New Delhi : Daiichi Sankyo has moved the National Company Law Tribunal (NCLT) to stay the insolvency proceedings against RHC Holding initiated by HDFC Bank. A two member bench NCLT has asked both – RHC Holding and its lender HDFC Bank to file reply over the move within a week. The tribunal has directed to list the matter on Oct 4 for next hearing. Daiichi, which has filed an intervention application in

  • ICICI files insolvency plea against Jaiprakash

    New Delhi : Private sector lender ICICI Bank has filed insolvency petition against Jaiprakash Associates before the National Company Law Tribunal (NCLT).

  • NCLT issues notices to Malvinder, Godhvani

    New Delhi : The National Company Law Tribunal (NCLT) on Thursday issued notices to Malvinder Mohan Singh, ex-Religare chief Sunil Godhwani and others, and also directed to maintain status quo over the shareholdings and composition of RHC Holdings board after the plea of younger brother Shivinder Singh.

  • Shivinder moves NCLT against brother Malvinder, ex-Religare chief Godhwani

    New Delhi : Former Fortis Healthcare promoter Shivinder Singh said on Tuesday he has moved the National Company Law Tribunal (NCLT) against elder brother Malvinder and ex-Religare chief Sunil Godhwani, while dissociating from his brother as business partner.

  • Higher provisioning to push Public Sector Banks into red

    Mumbai : Elevated provisioning for stressed loans may keep most public sector banks in the red in the current financial year and may also prompt the government to announce capital infusion within the next two months, according to rating agency Icra.

  • NTPC bets on rising power demand

    Mumbai : Unlike a few years ago, demand for energy has been growing at a healthy 6 per cent per annum. During July, the demand for electricity soared even further. With demand for power increasing, NTPC has ensured that it will continue to grow faster, said its CMD, Gurdeep Singh in Mumbai.

  • SC to hear Jaypee home buyers’ plea on Mon

    New Delhi : The Supreme Court on Friday listed for final hearing on July 16 the pleas of hassled home buyers registered with Jaiprakash Associates (JAL) saying that it would exclusively deal with their grievances and the “capability” of realty firm to refund money to them.

  • Tata-Mistry feud: Chairman doesn’t enjoy a free hand, says NCLT

    Mumbai : The National Company Law Tribunal (NCLT), which upheld the removal of Cyrus Mistry as chairman of Tata Sons, said an executive chairman does not enjoy a free hand and that he also cannot assume that majority shareholders and the board would be at his “beck and call”.

  • JAL told to deposit Rs 600 cr to refund money to homebuyers

    New Delhi : The Supreme Court on Wednesday suggested that the realty firm Jaiprakash Associates (JAL) should pay Rs 600 crore, instead of Rs 1,000 crore ordered earlier, to refund the principal amount to the hassled home buyers.

  • Tata-Mistry case: NCLT order deferred to July 9

    Mumbai: The National Company Law Tribunal (NCLT) today deferred to July 9 its judgement on a petition filed by Cyrus Mistry challenging his ouster as chairman of the Tata Sons group.

  • Verdict on Tata-Mistry battle on July 4

    Mumbai : The city bench of the National Company Law Tribunal (NCLT) will deliver its judgement on July 4 that may bring the curtains down on the two-year-old bitter feud between Tata Sons and its dismissed chairman Cyrus Mistry.

  • Alok creditors okay RIL acquisition bid

    New Delhi : Majority of lenders of textiles firm Alok Industries have approved Reliance Industries’ resolution plan to acquire the debt ridden company.

  • Bankruptcy law will be learning experience for at least 2-3 years: Bahram Vakil, founding partner, AZB & Partners

    Bahram Vakil, the founding partner of leading law firm AZB & Partners, is reckoned among the country’s foremost infrastructure and project finance attorneys. He has worked on several committees that introduced major policy changes in the country. Among them are the U K Sinha Committee— working group on foreign investment in India; SEBI sub-group on regulatory guidelines for redeemable non – convertible preference shares, and the Viswanathan Committee on bankruptcy law reform. 

  • SBI drags Jai Balaji to NCLT over dues

    Mumbai : After having narrowly escaped bankruptcy in October, Jai Balaji Industries is, once again, facing insolvency as the State Bank of India filed a winding-up plea against the company to recover dues worth nearly Rs 900 crore, a source said.

  • 65 accounts referred for resolution

    Kolkata: Allahabad Bank has refereed 65 accounts of stressed assets involving an amount of about Rs 12,566 crore to National Company Law Tribunal (NCLT) for resolution under Insolvency and Bankruptcy Code (IBC) during last fiscal. The bank said in its annual report that it was focusing on recovery and rebalancing loan book with emphasis on small, micro, agriculture and retail advances. The number of wilful defaulters declared by the bank was 257.

  • IDFC Bank-Capital First merger gets RBI nod

    New Delhi : IDFC Bank on Wednesday said it has received RBI’s approval for merger of Capital First, Capital First Home Finance and Capital First Securities with the company.