It filed for voluntary Chapter 7 bankruptcy in the Southern District of New York, court filings showed.
18 May 2018 1:52 PM
In a press release, the firm went opened up to confirming that they will shut down with immediate effect.
03 May 2018 9:57 AM
Auditors of Reliance Naval and Engineering Ltd have raised doubts about the Anil Ambani-led company’s ability to continue as going concern.
24 Apr 2018 12:44 PM
IIFCL tore into its valuers assuming a much less toll collections from Jaypee-built expressway.
22 Apr 2018 11:50 AM
Essar Steel owes around Rs 49,000 crore to banks, is the biggest asset on the block right now.
20 Apr 2018 9:31 AM
Firestar Diamond approached a bankruptcy court in New York in February.
08 Apr 2018 4:01 PM
The banks will need to achieve 50 per cent provision cover for those loans by end-June.
05 Apr 2018 12:23 PM
In 2017, the RBI ordered banks to force roughly 40 of the biggest corporate loan defaulters into bankruptcy proceedings.
13 Feb 2018 8:27 AM
SBI is claiming to recover Rs 4,295 cr from Bhushan steel along with USD 490 million foreign currency loan.
19 Jul 2017 2:06 PM
NPAs are a big drain on the financial health of banks especially public sector banks.
16 Jul 2017 4:40 PM
IBC that was passed in May 2016 replaced three existing laws on insolvency and bankruptcy.
13 Jul 2017 3:14 PM
Essar Steel, Bhushan Steel and Electrosteel Steel collectively have NPAs worth Rs 1 lakh crore.
23 Jun 2017 11:16 AM
Bill to cover financial entities and insurance firms.
15 Jun 2017 5:21 AM
Abbasi said that there had been lack of discipline and accountability in the Pakistan International Airlines (PIA) in the past.
19 May 2017 3:08 PM
President Pranab Mukherjee last night signed ordinance to amend Banking Regulation Act.
05 May 2017 6:05 PM
RBI to issue directions to any banking company to initiate insolvency resolution process in respect of a default.
05 May 2017 5:53 PM
The firm was to build 6 nuclear reactors in Andhra Pradesh along with state-run NPCIL.
29 Mar 2017 6:43 PM
The lack of uniformity between financial systems and regulations allows criminals to participate in these illegal activities
14 Mar 2017 9:11 PM
The company rebranded itself last year as Multiply, a "fan engagement platform" that connects celebrities and their followers.
04 Mar 2017 9:15 AM
As of January 1, a two-year experiment will see 2,000 unemployed Finns receive a monthly unconditional payment of $590.
18 Jan 2017 11:30 AM