Creditors took a haircut of around 67 per cent on their admitted claims on the realisation made till September 2025 under the corporate insolvency resolution process (CIRP) of the Insolvency and Bankruptcy Code (IBC), the latest data released by the insolvency regulator showed.
The Kanpur-based two-wheeler manufacturer has decided to approach the Board for Industrial and Financial Reconstruction (BIFR).\n
Taken out from the supervision of the Board for Industrial and Financial Reconstruction (BIFR), Dunlop India Limited (DIL) expects to make a marginal profit by March 2008 and declare a dividend for shareholders next fiscal.
The Board for Industrial and Financial Reconstruction has constituted an assets sale committee for selling off Cement Corporation of India as a whole or in parts after declaring it sick, Rajya Sabha was informed on Monday.
Income tax authorities and public service broadcaster Prasar Bharti were given eight weeks time by the Board for Industrial and Financial Reconstruction on Tuesday to resolve the outstanding issues with Amitabh Bachchan Corporation Ltd.
Dunlop India of the Pawan Ruia group has submitted a Rs 600 crore (Rs 6 billion) draft rehabilitation scheme to the Board for Industrial and Financial Reconstruction for the revival of the ailing outfit.
Radico Khaitan Ltd has informed BSE that the Board for Industrial and Financial Restructuring has sanctioned a scheme of rehabilitation of Abhishek Cements Ltd.
With assets depreciating over time, it will lead to large haircuts for lenders and creditors, say experts
Finance Minister Jaswant Singh assured the Rajya Sabha that no employee of the Board for Industrial and Financial Reconstruction and Company Law board would be retrenched when these were disbanded and merged into National Company Law Tribunal.
The total admitted claim of financial creditors of these 88 companies stood at Rs 1.3 trillion, of which they recovered Rs 65,635 crore.
Experts say this further underlines the lack of investor interest in stressed assets at present.
Govt to bring 'Bankruptcy Code' for ease of doing biz
The Supreme Court on Tuesday held that the sale of surplus lands by National Textile Corporation was legal.
Indo Texprint Overseas Ltd has fixed February 10 as record date for the purpose of reduction of the existing share capital of the company by 90 per cent from Rs 50 million to Rs 5 million.\n\n\n\n
Pawan Ruia has finally done it, a beaming Buddhadeb Bhattacharjee, then West Bengal chief minister, had said at the reopening of the 70-year-old Sahagunj factory owned by Dunlop in 2005. But with the Calcutta high court passing a winding-up order in 2013 and the Trinamool Congress-led state government passing a Bill to take over the company in 2016, the once-upon-a-time undisputed leader in the Indian tyre industry looks vastly undone. But that can hardly be a deterrent for Ruia, who has a penchant for making headlines one way or the other.
Despite the Indian government's recent efforts anecdotal evidence indicates that there has been little change in the extortionist behaviour of a significant proportion of tax and police officials, says Jaimini Bhagwati.
Industrialist Pawan Ruia's (think Dunlop and Jessop) arrest this month for cheating and criminal breach of trust marked a new low, but the tide had been turning against him for a while now. Ishita Ayan Dutt & Avishek Rakshit report.
So far, among the IBC cases, SBI has been able to recover Rs 8,500 crore from Tata Steel's acquisition of Bhushan Steel. Another Rs 1,500 crore is in an escrow account on account of Electrosteel Steels.
RBI governor Raghuram Rajan says, laws must be tightened for freeloaders.
At least 13 attempts were made earlier at modernising.
Recent tribunal rulings open prospects of large haircuts and barriers to auctioning of personal guarantees, among other issues
Pulbic banks have no reason to cheer Budget announcement.
Kalanithi Maran, the former promoter of Spicejet, has moved the Delhi High Court against the airline.
Conversion of outstandings into equity even partially should be a strict no-no says Chatered Accountant S Murlidharan
All evidence suggests that the US Federal Reserve will raise interest rates soon.
Govt must take few steps to improve business environment.
'By not letting bankrupt banks fail, we have discouraged ordinary folk from taking precautions while choosing their bank or at least when they hear bad news about their bank,'says S Muralidharan, former MD, BNP Paribas.
With a sole mandate of inflation targeting, RBI wears many hats.
Budget in the medium term aims to kick-start the investment cycle.
The government has provided a long-term vision.
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