Ahluwalia Contracts settles dispute with A2 Interiors; moves to withdraw insolvency proceedings
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Last Updated: May 10, 2021, 01:43 PM IST
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On May 5, the Delhi-based bench of NCLT had allowed the insolvency plea filed by A2 Interiors Products, an operational creditor, against Ahluwalia Contracts claiming default of Rs 14.10 crore and had appointed an IRP.
Ahluwalia Contracts had engaged A2 Interiors Products for interior, furnishing and allied civil and electrical works at various project sites. It had supplied materials to Ahluwalia Contracts as part of various work orders issued for six projects at different locations in the country.
Construction firm Ahluwalia Contracts has entered into a settlement agreement and resolved the payment issues with its operational creditor, A2 Interiors Products Pvt Ltd, and is filing an application to withdraw the insolvency proceedings.
NCLT admits Cox & Kings Financial Services for insolvency resolution
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This is the second listed firm promoted by Ajay Kerkar to be admitted under the Corporate Insolvency Resolution Process (CIRP) since the flagship firm and travel company Cox & Kings Ltd is also going through an insolvency resolution process.
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YES Bank had approached the Mumbai bench of the National Company Law Tribunal (NCLT) after the company defaulted on its dues of over Rs 445 crore.
The dedicated bankruptcy court has admitted the insolvency petition against Cox & Kings Financial Services Limited (CKFSL) and appointed Pardeep Kumar Sethi as interim resolution professional (IRP) for the company.
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Earnings Today: Twenty-two firms are slated to post their March quarter numbers today such as Chambal Fertilizers & Chemicals, Venky s, JMC Projects and Zydus Wellness
Avenue Supermarts: The firm on Saturday reported an increase of 52.56 per cent YoY in its consolidated net profit to Rs 413.87 crore for the fourth quarter ended March 2021.
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Hero MotoCorp: The two-wheeler maker said it has extended the shutdown at its manufacturing facilities across India, global parts centre and R&D facility in Jaipur till May 16. This is the third extension of the shutdown by Hero MotoCorp.
Wadia Ghandy has promoted eight fee-earners to its partnership, growing to 41 partners.
The new partners and their practice areas and LLB alma mater, respectively, are:
Anant Kaushik (corporate; HNLU Raipur)
Abinash Pradhan (real estate, litigation, ADR; KIIT Bhubaneswar)
Abir Patel (real estate; Mumbai University)
Jash Agrawal (banking & finance; KIIT)
Nanki Grewal (real estate, litigation, ADR; GLC Mumbai)
Piyush Kumar (banking & finance; NLU Jodhpur)
Raghavindra Gupta (litigation & dispute resolution; GLC Mumbai)
Shachi Udeshi (litigation, ADR, real estate; Pravin Gandhi College of Law Mumbai)
Wadia Ghandy now has a total of
41 partners, of whom 35 are in Mumbai, 3 in Ahmedabad, 1 in Pune and 2 in Delhi.
The National Company Law Tribunal (NCLT) is said to be considering liquidation of the company after hearing arguments made by lawyers on behalf of the companys financial creditors, these people said.