Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
Track the industry of your choice with a daily newsletter specific to that industry.
Stay on top of your investments. Track stock prices in your portfolio.
NOTE :
The monthly duration product is an auto renewal based product. Once subscribed, subject to your card issuer s permission we will charge your card/ payment instrument each month automatically and renew your subscription.
In the Annual duration product we offer both an auto renewal based product and a non auto renewal based product.
Ahluwalia Contracts settles payment issues with operational creditor
May 11, 2021
×
A2 Interiors Products has filed an application to withdraw the insolvency process initiated by the NCLT Delhi
Ahluwalia Contracts (India) Ltd has settled the payment issues with its operational creditor A2 Interiors Products and has sought the withdrawal of insolvency process initiated by the National Company Law Tribunal (NCLT).
The matter has been amicably resolved and settled with A2 Interiors Products, who has, in turn, filed for the withdrawal of the Corporate Insolvency Resolution Process (CIRP) with the Interim Resolution Professional (IRP) and NCLT, Ahluwalia Contracts said in a statement.
“The steps to get the order set aside are in progress,” it added.
Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
Track the industry of your choice with a daily newsletter specific to that industry.
Stay on top of your investments. Track stock prices in your portfolio.
NOTE :
The monthly duration product is an auto renewal based product. Once subscribed, subject to your card issuer s permission we will charge your card/ payment instrument each month automatically and renew your subscription.
In the Annual duration product we offer both an auto renewal based product and a non auto renewal based product.
According to sources, NBCC and Suraksha group submitted their revised bids on Monday. Suraksha group has now offered a line of credit of Rs 3,000 crore as working capital for construction of projects as against the earlier proposal of Rs 2,000 crore, the sources said. It has also given an undertaking that any shortfall to the dissenting creditors will be met.
NBCC is offering up to 1,903 acres of land while Surakasha group has proposed over 2,600 acres to the lenders. Suraksha group has earmarked 1,486 acres to dissenting lenders out of the total land parcels offered in the proposal. NBCC has provided an additional 377 acres of land in case dissenting financial creditors are not satisfied with its original offer of 1,526 acre, taking its total offer to up to 1,903 acre.
Britannia Industries announced that the National Company Law Tribunal, Kolkata Bench had on 7 May, 2021 approved the Scheme of Arrangement between Britannia Industries (Company) and its Members (Scheme).
The Tribunal has issued a electronic copy of the order sanctioning the Scheme on 9 May 2021, to the company.
The Scheme will be made effective by filing certified / digitally signed copy of the order of the Tribunal through e-form INC-28 with the Registrar of Companies, Kolkata.
In terms of the Scheme, the Company will:
- issue and allot by way of bonus, 1 fully paid-up debenture of the face value of Rs 29 each, by utilizing its general reserve, for every one fully paid-up equity share of face value of Rs 1 each; and