The Reserve Bank of India (RBI) has proposed to allow companies faced with insolvency proceedings, to tap funds through external commercial borrowings, to repay their debts. As per the existing guidelines, the proceeds of … READ FULL STORY
Admitting the insolvency pleas of two home buyers against Emaar MGF Land, a two-member bench headed by National Company Law Tribunal (NCLT) president justice MM Kumar, has appointed Manoj Kumar Anand as the interim … READ FULL STORY
Finance minister Piyush Goyal, on January 28, 2019, exhorted state-run banks to step up lending to micro, small and medium enterprises, agriculture and housing sectors and also assured these lenders of all kinds of … READ FULL STORY
Two non-bank lenders, Finance Advisors & Managers and Vista ITCL (formerly IL&FS Trust Company), have taken Mumbai-based developer Rashmi Housing to the National Company Law Tribunal (NCLT), for defaulting on a Rs 26.24-crore payment. … READ FULL STORY
The Supreme Court, on September 6, 2018, allowed the Corporation Bank, which has led a consortium of banks to lend loans to the Amrapali Group, to move the National Company Law Tribunal (NCLT). A … READ FULL STORY
Banks and financial institutions (FIs), which have lent money to Jaiprakash Associates Limited (JAL), on July 17, 2018, urged the Supreme Court that the assets of holding firm JAL, should not be used for … READ FULL STORY
State-run Punjab National Bank (PNB) and Carlyle Group, which owns over 32 per cent in PNB Housing Finance, have announced that they have appointed merchant bankers, to sell at least 51 per cent stake … READ FULL STORY
A Supreme Court bench headed by chief justice Dipak Misra, was informed by senior advocate Fali S Nariman, on July 16, 2018 that Jaiprakash Associates Limited (JAL) has already deposited Rs 750 crores with … READ FULL STORY
The Supreme Court, on July 4, 2018, suggested that realty firm Jaiprakash Associates Limited (JAL) should pay Rs 600 crores, instead of Rs 1,000 crores ordered earlier, to refund the principal amount to the … READ FULL STORY
Maintaining that it was ‘fully committed’ to construct homes and make payments to home buyers for the delay in handing over possession, Jaiprakash Associates Ltd (JAL) has also sought the constitution of a committee, … READ FULL STORY
Maharashtra’s real estate regulator MahaRERA chief Gautam Chatterjee, while welcoming the central government’s decision to empower home buyers by giving them the status of financial creditors under the bankruptcy law, however, added that the … READ FULL STORY
The Supreme Court, on May 16, 2018, ordered real estate firm Jaiprakash Associates Limited (JAL), to deposit an additional Rs 1,000 crores, by June 15, 2018, to refund money to the home buyers, if … READ FULL STORY
The Supreme Court, on April 16, 2018, directed realty firm Jaiprakash Associates Limited (JAL), to deposit Rs 100 crores with its registry, by May 10, 2018. The bench, headed by chief justice Dipak Misra, … READ FULL STORY
