Page 54 - Nclt
Energy sees some big-ticket filings under new insolvency law
In the first six months after notification of the Insolvency and Bankruptcy Code, a number of big-size filings were made from the infrastructure sector at the National Company Law Tribunal (NCLT). Last month saw insolvency filings worth Rs 10,000 crore from the sector. One of these being Kolkata-based steel company Ramsarup Industries, which has a principal debt of Rs 2,000 crore.Others in the segment that have gone the insolvency route are Uttam Galva Steel, Gujarat NRE Coke, Marmagoa Steel and Facor Steel. Gujarat NRE Coke, listed on the National Stock Exchange, owes Rs 3,880 crore.Bio-diesel maker Gujarat Oleo Chemical has a debt of almost Rs 5,000 crore and has filed for insolvency at the Ahmedabad bench of NCLT.Overall filings from the steel sector are a little more than Rs 20,000 crore, some by creditors and others by the corporate debtor itself.As for filings from the power sector, senior officials from a company that has filed for insolvency blame the government's erstwhile ...
 "Energy sees some big-ticket filings under new insolvency law")
NCLT orders on disputed debt create ambiguity for insolvency professionals
Two different verdicts left ambiguity on how the term 'dispute' was to be interpreted
 "NCLT orders on disputed debt create ambiguity for insolvency professionals")
NCLT accepts Synergies Dooray's application for insolvency
Exim and Edelweiss have been restrained from taking any further action in the matter
 "NCLT accepts Synergies Dooray's application for insolvency")
New insolvency framework marches with army of 600 IPs
Agencies under ICAI, ICSI see brisk registration in the first month
 "New insolvency framework marches with army of 600 IPs")