Bad loans and personal guarantees
May 30, 2021
The Insolvency & Bankruptcy Code marks one of the most significant changes made to commercial laws - Nuthawut Somsuk
The Insolvency & Bankruptcy Code marks one of the most significant changes made to commercial laws - Nuthawut Somsuk×
The SC verdict has brought relief to creditors waging long battles against bad loans
On May 21, 2021, the Supreme Court dismissed pleas on 75 petitions challenging the notification including that on Anil Ambani, Sanjay Singhal, Venugopal Dhoot, Kapil Wadhawan and 45 other industrialists. (The Supreme Court had declared the notification issued by the Union government under Insolvency and Bankruptcy Code, on November 15, 2019 as legal and valid).
KOLKATA: Cable TV expert retired Lt Col VC Khare has passed away. He contributed to the cable TV industry in India in different roles for nearly three decades. He was also a member of the Bureau of Indian Standards (BIS) where he played a significant role in formulating 8 BLS Specification for Cable TV Hardware. He published over 30 papers on Cable TV. The cable industry
Read more about Reliance Infrastructure nears 2-year high; stock zooms 103% in a month on Business Standard. RCapital (up 5% at Rs 13.37), RCom (up 10% at Rs 2.12), RPower (up 5% at Rs 8.68), Reliance Home (up 5% at Rs 2.73) and Reliance Naval (up 5% at Rs 3.20) from ADAG were locked in upper circuit
Synopsis
The bench directed Jio to furnish application copies to all parties and asked them to file their replies and adjourned the hearing to June 10. On December 3, the National Company Law Tribunal’s (NCLT) Mumbai bench had cleared Jio s resolution plan to pick up the tower and fibre assets of RCom – housed under Reliance Infratel - for under Rs4,000 crore which would have gone to the lenders.
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Reliance Jio Infocomm (Jio) has moved the bankruptcy court against
Reliance Communications (Rcom) tower unit, Reliance Infratel, seeking disclosures of the forensic audit reports of the tower company whose accounts, along with its parent’s, were marked as “fraudulent” by some of its lenders.
Reliance Industries (RIL), Tata Consultancy Services (TCS), Infosys and the State Bank of India (SBI) are the only four consistent names in the list of top 10 companies when India hit the milestone of $1 trillion, $ 2 trillion and $ 3 trillion in market capitalisation. India first hit the $1 trillion m-cap mark in May 2007. Over a span of 14 years, the top 10 list has undergone considerable change with names like Reliance Communications, ONGC and NTPC disappearing from the list and new names like Kotak Mahindra Bank and Bajaj Finance stamping their authority. The current list and the list when India hit the $2 trillion milestone in July 2017 are fairly identical as they share seven companies.