Master Restructuring Agreement News Today

Appellate tribunal NCLAT has rejected SBI’s pleas opposing the liquidation value of ITPCL  provided by the debt-ridden firm’s lead banker PNB and said the country’s largest lender cannot “wriggle out” the debt  restructuring process of the IL&FS group’s thermal power

The National Company Law Appellate Tribunal (NCLAT) has dismissed all three applications by SBI against the liquidation value of IL&FS Tamil Nadu Power Company Ltd (ITPCL) provided by the debt-ridden firms lead banker PNB. The tribunal found no error in fixing the liquidation value as of 30.09.2018, as per the RBI circular. Over 90% of lenders by value and 75% by numbers have already approved the ITPCL restructuring plan.

IDBI Bank has raised governance concerns over the exclusion of nominee directors from board meetings of New Tirupur Area Development Corporation Ltd (NTADCL) post-loan repayment. Despite provisions allowing their retention until all dues are settled, the directors were excluded, leading IDBI Bank to write to the Registrar of Companies (ROC). NTADCL, which underwent Corporate Debt Restructuring in 2011, excluded IDBI Bank and SBIs nominee directors, citing vacancy due to loan repayment. IDBI Bank...

Tilaknagar Industries Ltd has made a prepayment of the entire outstanding principal along with accrued interest of Rs 54.10 crores towards EARC Trust SC 233 and EARC Trust SC 269.

The good news is that Infrastructure Leasing & Financial Services (IL&FS), under the government-appointed board of directors has managed to secure a lot of assets, and, over a four-year period, made payouts through two entities.

Indonesia's state-owned construction company PT Waskita Karya booked a net profit of Rp294 billion in the first semester of 2022, an increase of 28.95 ...

TRIS Rating affirms the company rating on TPI Polene PLC (TPIPL) and the ratings on its outstanding senior unsecured