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The CREDAI report noted that these delays are attributed to a range of factors, with 92 per cent developers experiencing labour shortage at sites, 83 per cent developers are working with less than half the workforce, and over 82 per cent of developers are facing project approval delays.
Results: Amtek Auto loss widens to Rs 145.77 crore in June 2020 quarter Representational Image Auto components maker Amtek Auto, currently undergoing corporate insolvency resolution process, on Wednesday reported widening of standalone loss after tax to Rs 145.77 crore for the quarter ended June 2020. The company had posted a standalone loss after tax at Rs 78.42 crore in the year-ago period. Total revenue during the period under review stood at Rs 36.53 crore. It was at Rs 215.83 crore in the corresponding quarter a year ago, Amtek Auto said in a regulatory filing. The company said the impl...
For banks, however, the resolution is not the end of the road because NCLT orders are still being challenged by other creditors and debtors as the bankruptcy code is put to the test in higher courts.
According to banking sources, work is progressing on multiple fronts to ensure that the bad bank starts operations as soon as possible. On Wednesday, bankers met to finalise the capital structure of the bad bank (NARCL). Sources said that the company would need at least Rs 6,000-crore capital of equity and debt to start operations.
Amtek Auto resolution takes new twist April 18, 2021 NCLAT has dismissed the petition and has imposed a penalty of ₹1 lakh on DVI NCLAT has dismissed the petition and has imposed a penalty of ₹1 lakh on DVI× NCLAT rejects Deccan Value Investors condition on land lease The three-year-old insolvency case of Amtek Auto has taken yet another interesting twist with the National Company Law Appellate Tribunal (NCLAT) dismissing the petition of the successful resolution applicant, Deccan Value Investors (DVI), and imposing a penalty of ₹1 lakh to be paid in 15 days. NCLT’s approval The Nati...