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The Principal Bench of the National Company Law Tribunal (NCLT) was hearing the plea for initiating insolvency against Orris Infrastructure over an alleged default of Rs 3.60 lakh.
The National Company Law Tribunal (NCLT) in India has dismissed a plea to initiate insolvency against Orris Infrastructure, stating that the Insolvency & Bankruptcy Code (IBC) cannot be used as a "tool for recovery". The NCLT observed that the applicants had already received full payment from Orris Infrastructure in excess of the default amount. The applicants had signed an agreement with the realty firm, which included monthly assured returns. The construction was completed in 2013, and the occupation certificate was received in 2017, ending the period for paying assured returns...
(Bloomberg) -- Global investment firm KKR & Co. will invest an additional 20.69 billion rupees ($249.19 million) in Indian billionaire Mukesh Ambani’s rapidly expanding retail unit that rivals global competitors including Amazon.com Inc. and Walmart Inc. in the world’s most populous nation.Most Read from BloombergTrudeau Is Stuck in India With Faulty Aircraft After Hearing Criticism From ModiThe Mighty American Consumer Is About to Hit a Wall, Investors SayTesla and China Risk Leaving Volkswagen
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Reliance Industries' retail unit is attracting "strong interest" from other top investors after raising $1 billion from Qatar Investment Authority, its billionaire chairman Mukesh Ambani said on Monday. Reliance Retail, which aims to list on the stock market, raised $1 billion from Qatar Investment Authority at a $100 billion valuation last week, three years after a wave of fundraising where the unit attracted investors such as KKR, Silver Lake and TPG. "In less than three years, the valuation of Retail has almost doubled, notwithstanding the intervening COVID-19 pandemic...