A day after the plan to get Jet Airways back online, experts have said it will be “very difficult and uncertain.” The airline’s creditors on Saturday approved a multi-million dollar resolution plan under which Jet Airways would be acquired by a consortium of investors. However, experts say that the road …
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NEW DELHI: Vodafone Group Plc lenders have approved the merger of Indus Towers Ltd and Bharti Infratel Ltd, the UK-based company said in a statement on Monday. The agreement to continue the deal is conditional on consent to a security package for the merged entity of Vodafone’s existing lenders, the …
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ArcelorMittal is likely to bid for Uttam Galva Steels, who was recently admitted to the National Company Law Court (NCLT) and whose co-promoter was once. The NCLT Mumbai Bench bank on October 1 admitted a petition filed by the State Bank of India (SBI) under the Insolvency and Bankruptcy Code …
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On Thursday, the Supreme Court dismissed the request of the State Bank of India (SBI) to request the stay of a stay granted by the Delhi High Court in bankruptcy proceedings against Reliance Communications (RCom) chairman Anil Ambani. Ambani had previously objected to SBI invoking personal guarantees under the 2019 …
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Following a push from the Ministry of Finance, Indian public sector lenders, led by the State Bank of India, are preparing the list of all defaulters who had given their personal guarantees while taking loans and defaulted, resulting in bankruptcy proceedings. According to the council, the personal guarantees of all …
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Jio and Airtel shared spectrum with bankrupt telcos The Supreme Court exempted Bharti Airtel and Reliance Jio from paying around Rs 40 billion in past fees for using the spectrum of other bankrupt telcos. In particular, Jio uses spectrum from Anil Ambani’s Reliance Communications (RCom), which has liquidity problems, while …
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