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New Delhi, Mar 31 (PTI) Mining billionaire Anil Agarwal's Vedanta Ltd has told the Supreme Court that its tweaked bid for the bankrupt Jaiprakash Associates Ltd was rejected despite being better than Adani Group's offer. In its petition challenging the lenders' decision to accept Adani's takeover offer, Vedanta contended that its addendum bid is about Rs 3,400 crore higher in gross value terms and roughly Rs 500 crore more in net present value compared to the Adani Group's offer. In the bid ch ...Read More >
NEW DELHI: Finance minister Nirmala Sitharaman said amendments to the Insolvency & Bankruptcy Code (IBC) will help maximise value for stakeholders as the Lok Sabha passed the bill on Monday.She said the 12th Amendment seeks to strengthen the existing insolvency framework, as well as address practical challenges, and incorporate evolving global best practices. She added that the law has been a major factor in improving the health of the country's banking sector.Citing extensive litigation by prom ...Read More >
The National Company Law Tribunal has admitted an insolvency case against Blu-Smart Mobility Tech. This follows a plea from Lepton Software Export and Research over unpaid dues. The tribunal has appointed an interim resolution professional and suspended the company's board. Blu-Smart Mobility is now under moratorium protection. The company's operations and subsidiaries are intertwined. The National Company Law Tribunal (NCLT) has admitted an insolvency case against Blu-Smart Mobility Tech, the ...Read More >
Nirmala Sitharaman presented a bill in Lok Sabha to amend the Insolvency and Bankruptcy Code. The bill is now with a parliamentary committee for review. The changes aim to speed up bankruptcy resolutions and improve creditor recoveries. The creditor-led resolution framework will reduce the workload of the National Company Law Tribunal. Finance and corporate affairs minister Nirmala Sitharaman on Tuesday introduced a bill in the Lok Sabha for amendments to the Insolvency and Bankruptcy Code (IBC ...Read More >
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