Maulik Vyas

India: Patanjali challenges approval of Adani Wilmar’s bid for Ruchi Soya

Patanjali Ayurved Ltd has argued that under the insolvency and bankruptcy code, relatives of a wilful defaulter can’t participate in a bidding process.

India’s company law tribunal admits insolvency petition against apparel brand Provogue

This makes Provogue the fourth company from the textile and garment sector to attempt loan resolution in bankruptcy courts.

Liberty House gets company law tribunal nod to acquire Amtek Auto

New Delhi-based Amtek Auto owes over ₹12,300 crore to its lenders.

India’s company law tribunal approves AION-JSW  bid for Monnet Ispat

Sole bidder AION Capital-JSW Steel had offered ₹2,875 crore so far to acquire Monnet Ispat and Energy Ltd, while the company owes more than ₹11,000 crore to its lenders.

Company law tribunal dismisses Mistry’s plea against Tata Sons

A Mumbai division bench of NCLT dismissed the petition filed by the Mistry family’s investment firms, saying it found no merit in the case.

India: NCLT admits beleaguered telecom operator’s Aircel bankruptcy plea

Aircel and its subsidiaries Aircel Cellular Ltd and Dishnet Wireless Ltd together owe around Rs50,000 crore to creditors.

India: Another hiccup for Reliance Infratel as NCLT halts asset sale

This might create a minor hiccup as the Anil Ambani-owned company has entered into a binding agreement to sell off parts of RCom’s assets to Reliance Jio.

India: IDBI Bank to initiate bankruptcy proceedings against Orissa Slurry Pipeline

The Ruia family owned steel firm is one of the 12 cases identified by the Reserve Bank of India for initiating insolvency proceedings at NCLT.

India: Jinbhuvish Power, Korean JV partner at loggerheads over breach of contract

KOSEP, a subsidiary of Korea Power Generation, is seeking back around $7.5 million it invested from the Indian company.

India: RCom agrees to share Reliance Jio deal information with offshore investors

RCom and Reliance Jio have not disclosed the exact valuation of the deal yet.