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NCLT approves Chemhub's resolution plan for Pancard Clubs

Chemhub Tradelink's plan for Pancard Clubs, approved by NCLT, involves Rs 8,900 crore debt claims with 8% recovery for creditors. The resolution process included bidders like Ashdan Properties and Vijay K. Oswal, with oversight from Deloitte and representation by Nausher Kohli.

India , Nausher-kohli , Rajesh-sureshchandra-sheth , Chemhub-tradelink , Madan-vaishnava , Vijayk-oswal , Ashdan-properties , Deloitte , National-company-law-tribunal , Pancard-clubs , Sureshchandra-sheth , Corporate-insolvency-resolution-process

Mint Explainer: What the Subhash Chandra case means for personal guarantors

It has implications for Reliance ADA Group chairman Anil Ambani, Videocon chairman Venugopal Dhoot, and Bhushan Power and Steel promoter Sanjay Singal, who also face personal-insolvency proceedings in the NCLT.

India , Desai-diwanji , Vivek-infracon , Anil-ambani , Subhash-chandra , Sanjay-singal , Venugopal-dhoot , Dhiraj-mhetre , Durgesh-khanapurkar , Shruti-maniar , A-supreme-court , Supreme-court

NCLT admits insolvency plea against two Essel Group companies on Indiabulls Housing plea

The Mumbai bench of the National Company Law Tribunal (NCLT), in applications filed by Indiabulls Housing Finance Ltd, also appointed Ravi Prakash Ganti as interim resolution professional (IRP) for these companies.

Lucknow , Uttar-pradesh , India , Mumbai , Maharashtra , Ravi-prakash-ganti , Charanjeet-singh-gulati , Genex-realtech , Gnex-realtech , Nausher-kohli , Lakshmi-gurung , Vinita-melvin

ICICI Securities: ICICI Securities minority investors to challenge delisting

The private lender's scheme of arrangement to delist ICICI Securities received approval from the subsidiary's public shareholders in a voting process last month.

Bengaluru , Karnataka , India , Mumbai , Maharashtra , Ajit-dayal , Quantum-mutual-fund , National-company-law-tribunal , Exchange-board-of-india , Manu-rishi-gupta , Mutual-fund , Quantum-advisors

Bankruptcy court admits Punjab National Bank's insolvency resolution plea against Arshiya

Punjab National Bank's CIRP plea against Arshiya Ltd has been approved by Mumbai NCLT, with Nitin Vishwanath Panchal being appointed as RP. Officers have been asked to provide findings within a week.

Uttar-pradesh , India , Mumbai , Maharashtra , Khurja , Saji-kumar , Nitin-vishwanath-panchal , Sanjiv-dutt , Nausher-kohli , National-company-law-tribunal , Punjab-national-bank , Arshiya-ltd

Business News: RBI's action against Reliance Capital: Better late than never

RBI's action against Reliance Capital: Better late than never : Rashtra News The Reserve Bank of India's decision to seek a resolution of the Anil Dhirubhai Ambani Group (ADAG) promoted two years after it defaulted on payments has led to experts asking what triggered this move at this point in time. Critics have been quick,

India , Baroda , Gujarat , Kolkata , West-bengal , Delhi , Abu-dhabi , Abuz-aby , United-arab-emirates , Axis-bank , Delhi-high-court

Business News: Dues recovery: lnduslnd Bank acquires 4.79% in McLeod Russel by invoking pledged shares

Dues recovery: lnduslnd Bank acquires 4.79% in McLeod Russel by invoking pledged shares : Rashtra News In June, lnduslnd Bank had acquired 70,67,500 equity shares of McLeod, forming 6.77% of paid-up equity share capital, by invoking pledged shares also for recovery of its dues.lnduslnd Bank on Thursday said it has acquired a 4.79% stake in debt-laden

India , New-delhi , Delhi , Mcleod-russel , Williamson-magor , Indian-bank , Facebook , Bank-on , National-company-law-tribunal , Punjab-national-bank , Axis-bank , Standard-chartered-bank