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While the book value of all of Jet Airways assets may amount to around Rs 1,000 crore, 13 percent of the dues pending to financial creditors, of the airlines and 6.4 percent of the total admitted claims against the airline, auctioning the assets may fetch close to 50 percent of the total value of the assets.
Retail shareholders held a 19.29 percent stake in the grounded airline as on September 30. At the current market capitalisation, their holding is worth Rs 74.6 crore
Since 2021, China's real estate industry has faced turmoil due to regulatory actions targeting the substantial debts accumulated by certain companies. This crackdown has resulted in a series of defaults, including prominent firms like Evergrande and Country Garden, facing liquidation petitions. The latest major developer in a survival battle is Shimao Group, which recently disclosed that it has received a liquidation petition from China Construction Bank. Watch for more details!
Evergrande has defaulted since 2021, and its lenders, suppliers, and shareholders have already experienced significant losses. The company's share price has plummeted by 99 percent from its peak
Lenders are looking to discuss a proposal to liquidate Go First, a proposal to choose a firm to evaluate its remaining assets, and another proposal to evaluate potential buyers interested in the airline’s assets.
The airline’s lenders could vote on a proposal to liquidate the insolvent airline as early as this week, Moneycontrol has learnt. With this, another domestic airline’s days are set to come to an end
The financial creditors have also issued a no-dues certificate after receiving USD 22,50,000 as a full and final settlement.
Nithin Kamath talked about the concept of liquidation preferences in his 8-tweet thread, which allows investors to recover their investment before anyone else.
The liquidation process spells an end to a startup whose implosion and months-long battle for survival sent shock waves through Southeast Asia and India’s tech industries.
The record-setting rout in cryptocurrencies has put a slew of decentralized-finance applications and their communities in a race to protect themselves against a cascade of liquidations -- sometimes by employing unprecedented measures.
According to the letter, the new investor will be infusing $8 million in equity in tranches. The offer further stated that pursuant to Singapore's Insolvency, Restructuring, and Dissolution Act, Zilingo will be transferred to the ownership of a newly incorporated entity.
In value terms, around 74 percent of distressed assets were rescued. Of the CDs sent for liquidation, three-fourth were either sick or defunct and of the firms rescued, one-third were either sick or defunct, the Survey said.
Resolving insolvency cases speedily is necessary to clean up the balance sheet of both banks and corporate India and is a key condition to kick-start bank lending and boost private investment demand
IBBI has been set up under the Insolvency and Bankruptcy Code that seeks to consolidate and amend laws relating to reorganisation as well as insolvency resolution of corporate persons, partnership firms and individuals in a time-bound manner.
Indian market is not yet at the point where huge liquidation is being seen but it is slightly more defensive positioning, says Nick Parsons of National Australia Bank sharing his views to CNBC-TV18 on market weakness ahead US Fed meet this month end.
The companies to be delisted are -- Chemox Chemical Industries, Ganapati Exports, Hamco Mining & Smelting, Mansukh Industries, Mardia Chemicals, Mardia Steel, Moolchand Exports, Motorol, Pal Peugeot and Ponni Sugars (Orissa).
The current set of regulations surrounding the bankruptcy process in India were borne out of multiple judicial reforms and with biased towards revival of industrial companies.
SP Tulsian of sptulsian.com feels Tata Coffee can move to about Rs 1,400 in next six months.
SBI board today gave a formal approval to the management for issuing the recall notice to Kingfisher.
With no viable option left, the lenders to the debt-ridden Kingfisher Airlines (KFA) are set to take the “final call†on settling their outstanding dues after the proposed meeting with the company‘s chairman - Vijay Mallya. However, the company is yet to give any confirmation on its schedule.
In an interview to CNBC-TV18 Amit Gupta, head- derivatives -ICICI Direct said the October F&O series would expire mostly in line with the September series. "The September expired at 5,640 levels; I don't see the expiry today very far from this level. It should be around this level only," he added.
