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Haircut bluesAccepting for a meagre amount of ₹2,900 crore by the committee of creditors in the case if Videocon company is most unfortunate. The committee of creditors has to forego ₹42,000 crore as
KOLKATA: Cable TV expert retired Lt Col VC Khare has passed away. He contributed to the cable TV industry in India in different roles for nearly three decades. He was also a member of the Bureau of Indian Standards (BIS) where he played a significant role in formulating 8 BLS Specification for Cable TV Hardware. He published over 30 papers on Cable TV. The cable industry
Welcome clarification × SC ruling on personal guarantees in corporate bankruptcies is welcome, but NCLT is not in sync There have been two important, and in fact contrary, developments regarding insolvency and bankruptcy laws last week. A positive development was the Supreme Court ruling that creditors can initiate proceedings against personal guarantors of a corporate debtor, and even after approval of a resolution plan. This will facilitate more effective resolutions of corporate insolvencies and better recoveries for banks. The apex court has now clarified that the surety or guarantee ar...
Synopsis The bail application was moved by Dhoot’s lawyer Sandeep Ladda at the court of additional sessions judge AA Nandgaonkar seeking relief from arrest for the 70 year old Dhoot on grounds of his age and ill health during the course of the trial. Dhoot’s counsel is said to have given a suo moto assurance that he will not leave the country. Videocon’s former promoter Venugopal Dhoot has been granted bail by a special prevention of money laundering act (PMLA) court in Mumbai where the enforcement directorate has charged him for offences in connection with an alleged loan-for-kickback ...
Kochhar appeared before the court on Friday in connection with the ICICI Bank-Videocon money laundering case. The special court for Prevention of Money Laundering Act (PMLA) had on January 30 summoned Chanda Kochhar, her husband Deepak Kochhar, Videocon Group promoter Venugopal Dhoot and other accused in the case after taking cognisance of the Enforcement Directorate's (ED) charge sheet. Chanda Kochhar appeared before the special Judge A A Nandgoankarand filed a bail application through her lawyer Vijay Agarwal. The ED had arrested Deepak Kochhar in September 2020 after it filed a criminal...