RECENT NEWS & UPDATES

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Creditors Approve Jet Airways Resolution Plan

Posted under IBC, Business, Top Stories, by Neha Sonker / 1 day ago

Creditors to Jet Airways have approved a resolution plan which will give the country’s oldest private carrier a new lease of life, the airline said in a regulatory filing. The plan submitted by a consortium of London-based Kalrock Capital and UAE-based businessman Murari Lal Jalan comes after months of talks over the airline’s future and was confirmed in the regulatory filing, which gave no details of the deal.

Read more at Hindustan Times

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What The calcutta HC held On Anti-suit Injunction passed By Courts In Relation To foreign Arbitral Proceedings By Ajay Gaggar

Posted under IBC, Business, Legal, by Sonal / 3 days ago

A Division Bench of the Calcutta High Court held that an anti-suit injunction which was passed by an Indian court staying a foreign arbitral reference and the following enforcement of such foreign award, is without jurisdiction and held towards being non est, if later vacated through a superior court. Relating to this, a matter which involves, Devi Resources Ltd. (appellant), is a Hong Kong Based corporation that bought iron ore vide a contract dated 29th February, 2012 from Ambo Exports Ltd (respondent).

Read more at Lawyered.in

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Few Suitors Remain In The Fray As DHFL Bid Submission Deadline Ends Today

Posted under IBC, Legal, by Sonal / 4 days ago

Banks are bracing themselves for a lukewarm response as the deadline to submit binding bids for Dewan Housing Finance Limited (DHFL) ends on October 17. Of the two dozen players that had initially shown an interest in bidding for the mortgage lender, only four or five may actually submit bids, three senior executives involved in the transactions told CNBC-TV18.

Read more at CNBC

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Yes Bank Puts Essel Group Properties On Sale To Recover Rs 1,500 Cr Dues

Posted under IBC, Legal, by Sonal / 4 days ago

Yes Bank has put prime properties belonging to the Subhash Chandra-promoted Essel Group on sale to recover dues to the tune of Rs 1,500 crore. The bank has put two Essel Infraprojects-owned commercial properties in Mumbai and one bungalow owned by Essel Group’s RPW Projects Private Limited in New Delhi on the block, as per the auction notices issued by the bank which CNBC-TV18 has reviewed.

Read more at CNBC

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Notice In Anil Ambani's Plea Seeking Impleadment of Chinese Banks By Delhi HC

Posted under IBC, Legal, by Sonal / 7 days ago

Delhi High Court has issued notice in an application moved by Anil Ambani seeking the impleadment of Chinese banks in his pending petition challenging the appointment of a Resolution Professional for personal guarantee given by him for loans taken by Reliance Communications Ltd (RCom) and Reliance Infratel Ltd (RITL) from the State Bank of India.

Read more at Live Law

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