Essar Steel Case

Mukhopadhaya's recent ruling restoring Cyrus Mistry as Tata Sons chairman came as a rude shock to the salt-to-software giant

Investors, however, booked profit at most banking counters with shares of SBI, Axis Bank, HDFC Bank, YES Bank, Punjab National Bank, Bank of Baroda, and The Federal Bank down up 2.7 per cent.

The Insolvency and Bankruptcy Code, 2016 envisages closure of a corporate insolvency resolution process in a time-bound manner

The Committee of Creditors (CoC) of the company had moved an urgent plea to seek an early hearing in this matter

A two-member NCLAT bench said that if the Ahmedabad bench of NCLT fails to pass an order by this deadline, it would call records and pass an order

GPI Textile's RP too seeks quashing of ArcelorMittal's resolution plan over non-payment of dues

Lenders should not be pressured into giving control of the company to any entity that undervalues it, Essar Steel says

The SBI's decision, however, will not stall the Insolvency and Bankruptcy Code (IBC) process as the new entity will join the committee of creditors, they clarified

Senior legal counsels from ESAHL, Committee of Creditors (CoC), Resolution Professional (RP) and ArcelorMittal made a last ditch effort to present their cases

Both companies to rectify their initial offers

Both bids have to be shared, evaluated by Committee of Creditors before taking any decision

Ruling a boost for govt, which has tweaked banking laws to empower RBI to tackle the bad debt issue

No supporting documents for insolvency release: RBI tells HC

Essar Steel had moved the court against the June 13 RBI circular

Rajnish Kumar hoped that the Gujarat High Court will decide quickly on the Essar Steel case