The insolvency and bankruptcy code may be the answer to the airline’s crisis read more

ArcelorMittal, which has been engaged in a drawn-out attempt to acquire Essar Steel since 2017, had made a 420 billion rupee ($5.99 billion) bid for the bankrupt Indian steelmaker. read more

RCom, controlled by businessman Anil Ambani, owed banks $7 billion as of March 2017 when it last made public its debt level, and more to vendors. read more

SBI is working with the founders of several mid-sized companies to restructure loans and escape bankruptcy proceedings, said Kant, who joined SBI in 1983 and was previously the lender’s chief financial officer. read more

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The Ruia family has made a last-ditch effort to avert losing its flagship company Essar Steel Ltd to Lakshmi Mittal’s ArcelorMittal SA. read more

The NCLAT order came on an urgent petition moved by the ministry of corporate affairs after the Mumbai bench of NCLT had turned down its plea for 90 days moratorium over the loans taken by the IL&FS and its subsidiaries. read more

he dramatic move, which unfolded within the span of a hectic day in Mumbai, underscores the government’s concern about IL&FS’s defaults spreading to other lenders in the world’s fastest-growing major economy. read more

The government told the National Company Law Tribunal that it wants to take control of IL&FS by “sunset” and appoint 10 directors on a board it constitutes read more

Mistry had yesterday filed the petition in his personal capacity, requesting the appellate tribunal to set aside the impugned July 9 order of the National Company Law Tribunal. read more

The top court also allowed the Reserve Bank of India (RBI) to direct the banks to initiate separate insolvency proceedings against JIL’s holding company Jaiprakash AssociateS Limited (JAL). read more

The appointment of interim resolution professional (IRP) has brought relief to investors as, according to the provisions of the NCLT, the IRP has to resolve the problem of the company in six months from the date of appointment. read more

It is difficult to prove oppression and mismanagement, even for powerful minority shareholders read more

The NCLT ruled that the Tata Sons board of directors was competent to remove the executive Chairman and that Mistry was ejected as the board members had lost confidence in him. read more

Cyrus Mistry was removed because the board and majority of its members lost confidence in him after he sent out certain crucial information about the company to the I-T department, leaked details to the media and came out openly in public against the... read more