NEW DELHI: The ED has attached a sprawling property on Amrita Shergill Marg in Lutyen’s Delhi worth over Rs 486 crore belonging to Aarti Singhal, wife of Sanjay Singhal, former promoter of Bhushan Steel, in a money laundering case.This is the second property on Amrita Shergill Marg to be attached by ED, after the agency…
NEW DELHI: A court discharged Tuesday JSW Steel Ltd (formerly Monnet Ispat) in a case related to alleged irregularities in the allocation and running of Gare Palma and Rajgamar Dipside coal blocks in Chhattisgarh.The court said the adjudicating authority approved JSW’s application to take over Monnet Ispat via a resolution under insolvency & bankruptcy code….
NEW DELHI: In another significant action, Enforcement Directorate (ED) on Saturday said it restituted properties worth Rs 4,025 crore to JSW, a successful resolution applicant of the erstwhile Bhushan Power and Steel Ltd, under corporate insolvency resolution process of Insolvency and Bankruptcy Code.The assets were attached by ED in 2019 after a money laundering probe…
NEW DELHI: In a significant decision, Supreme Court on Monday ruled that maintenance payable to the estranged wife and children would get priority over claims of secured, financial and operational creditors over the assets of a husband’s firm facing proceedings under the Insolvency and Bankruptcy Code.A bench of Justices Surya Kant and Ujjal Bhuyan refused…
NEW DELHI: Hopes of Jet Airways getting fresh wings crashed on Thursday as the Supreme Court ordered its liquidation, with the successful bidder – Jalan Kalrock Consortium – failing to deposit even the first tranche of Rs 350 crore of the Rs 4,783 crore resolution plan for years, thereby burdening SBI-led lenders with huge financial…
Alok Industries has raised Rs 7,000 crore from parent Reliance Industries and two lenders – Axis Bank and State Bank of India, according to various disclosures by the company and people with knowledge of the matter. The textile manufacturer raised Rs 3700 crore in the form of term loans and working capital loans from banks,…
