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The real estate industry is one of the thriving sectors in the modern business world. There are three parties in the real estate business – the real estate companies and their promoters (who develop...
Currently, the grounded airline is fighting litigation on two fronts, at the NCLT and the Delhi High Court. Moneycontrol explains how these cases have played out over the last six months, what their status is now, and when they are likely to be taken up.
At a recently held town hall, the Resolution Professional reportedly told the employees that there is a commitment but no clarity on when their salaries will be paid. He said the Committee Of Creditors (CoC) is not willing to make any fresh fund infusion.
IRP holds the significant task of accumulating creditors’ claims within 90 days of the CIRP commencement date, thereby establishing a concrete framework for creditors, such as homebuyers
KP Advisory Services, the family office of the promoter Ravi Penmetsa, acquired the five-star property last week in Coimbatore under the corporate insolvency process, the people cited above said. Lenders unanimously voted for KP Advisory Services' Rs 185-crore plan. The resolution professional (RP) had admitted Rs 196 crore in claims, including trade creditors and banks. The offer from the family office of Gland Pharmas ex-promoters equates to a recovery of 94% for creditors.