Page 31 - Resolution Plan News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Lenders of SKS Power are set to meet next week to review the resolution plan presented by Torrent Power. This comes after the bankruptcy court noted that the decision to sell the power company to Sarda Energy and Minerals was made based on incomplete financial data. Other companies, including Jindal Power Ltd and Vantage Point Asset Management, were also bidding for the power producer. Torrent Power has appealed, stating that its offer included an upfront cash payment of ₹2,000 crore, while Sarda's offer included ₹400 crore as deferred payment.

"The resolution plan so approved shall be binding on the corporate debtor (AMW Autocomponent) and its employees, members, creditors, guarantors and other stakeholders involved in the resolution plan," an NCLT division bench of judicial member Chitra Hankare and technical member VG Venkata Chalapathy said in its October 12 order.

The High Court of Delhi has held that any claim that has been settled under the resolution plan, even though at a nominal value of Rs. 1 only, would become non-arbitrable once the resolution plan...

Anirudh Agro Farms has been given the go-ahead by the National Company Law Appellate Tribunal (NCLAT) to acquire the Viceroy Hotel for approximately Rs 150 crore. Anirudh Agro has already provided the necessary funds for the acquisition and plans to expand its presence in the hospitality industry. The Viceroy Hotel, located in Hyderabad, has two hotels operated by Marriott Group with over 400 rooms. The acquisition comes after a resolution plan submitted by CFM Asset Reconstruction was rejected by the NCLAT in September 2021.

The Hyderabad Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that all claims prior to the National Company Law Tribunal (NCLT) approval date of government authorities...