NARCL

Jaiprakash Associates offers more than NARCL, but creditors wary

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Jaiprakash Associates offers more than NARCL, but creditors wary

Mumbai: Debt-laden Jaiprakash Associates (JAL) last week made a ₹16,000-crore settlement offer to lenders in a desperate attempt to avoid bankruptcy. JAL said an initial upfront payment – of about ₹4,000 crore – will not be made immediately, but only after nine months from the date lenders agree to the settlement, people aware of the … Read more

Resolution winner is bound by plan, SC rules in Metalyst Forgings case

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Resolution winner is bound by plan, SC rules in Metalyst Forgings case

Mumbai: The resolution plan approved by the committee of creditors for an Amtek Auto subsidiary will be binding on the winning bidder that wanted to withdraw, India’s apex court has reiterated in its latest ruling on the Arvind Dham-promoted insolvent company. The Supreme Court overturned orders from a bankruptcy court and an appellate tribunal allowing … Read more