Banks move NCLT to invoke personal guarantee of promoters
Sources says that banks have decided that for invoking the personal guarantees, only the lead lender in each case will go to the NCLT.
Sources says that banks have decided that for invoking the personal guarantees, only the lead lender in each case will go to the NCLT.
According to Allied Silica, Tata Chemicals, the corporate debtor, had only transferred a sum of Rs 65 crore, out of Rs 123 crore and the balance amount of Rs 58 crore has not been paid. On account of default, the interest amounts to Rs 10.44 crore, and thus a total of Rs 68.44 crore is the unpaid operational debt, it said.
As per a company notice to shareholders, there shall be no meeting requiring physical presence at a common venue in view of the present circumstances on account of the Covid-19 pandemic.
Jet Airways Employees Consortium has joined hands with AdiGroup to bid for 75% in the airline.
The crisis-hit airline shares have lost over half of the value.
At NSE, shares plummeted 14.98 per cent to a multi-year low of Rs 58.15. In 12 trading days, the scrip has plunged over 61 per cent.
The RBI is likely to adopt a more accommodative approach towards resolution of stressed assets when it issues a revised circular, replacing the controversial February 12 circular quashed by the Supreme Court.
Mukul Kumar Shrawat, member (judicial,) National Company Law Tribunal, Mumbai, was born in Kanth, a town of Uttar Pradesh’s Moradabad…
With the RBI’s deadline ending to resolve the 28 large stressed accounts that the regulator had identified on its second…
Wilful defaulters and entities whose accounts have been classified as NPAs will be barred from bidding for assets under the…
