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Tata hunkers down, tells all its firms to start saving cash

Tata Sons has undertaken a swift review of all group companies amid the ongoing Covid-19 crisis .


10 April, 2020, 11:45 AM IST



From NCLT to 4,800% returns: It’s a multibagger amid market mayhem

Not just that! The stock also scripted a trailblazing comeback from 52-week lows.

Jaypee Infratech gains 4% as NBCC gets NCLT nod to acquire firm

NBCC got approval from the NCLT to acquire the debt-laden firm through an ins...

Govt extends tenure of NCLT acting President BSV Prakash Kumar

"... it has been decided to extend the tenure of Shri BSV Prakash Kuamr as act...

  • The stock quoted a 52-week high of Rs 366.95 and a 52-week low of Rs 14.7.

    Officials aware of the developments say Morgan Stanley is readying the share sale process.

    The stock was locked in lower circuit on the BSE and the NSE at Rs 18.05 and Rs 17.70, respectively.

    “RCom in accordance with the stipulations contained in Regulation 30 of the SEBI ....hereby informs ...that resolution professional of RCom has duly filed the resolution plan as approved by the CoC with the... NCLT, Mumbai Bench on March 6, 2020 in accordance with Section 30(6) of the Insolvency and Bankruptcy Code, 2016,” said the company.

    IDBI Trusteeship wants the tribunal to seize the assets of Reliance Home Finance and Reliance Capital to recover the dues.

    Resolution of Jaypee Infratech’s bankruptcy case will provide relief to around 20,000 homebuyers in the company’s residential projects in Noida and Greater Noida. In its bid, NBCC had proposed to complete these stuck projects.

    The resolution professional for Jaypee Infratech, Anuj Jain, had filed a plea before the NCLT to approve NBCC's bid. Jaypee Infratech's creditors, including both financial and homebuyers, had approved the bid by the NBCC, which in turn has promised to complete the projects left midway by Jaypee Infratech.

    Jet Airways' resolution professional had last week filed an application in NCLT seeking 90 days' extension for the insolvency process of the grounded airline after it failed to attract any bidder. The NCLT bench, comprising Bhaskara Pantula Mohan and Rajesh Sharma, granted the extension as the CoC voted for the same, with 70 per cent votes in favour.

    The Ahmedabad bench of the National Company Law Tribunal (NCLT) had last year approved the joint bid.

    Earlier, the Committee of Creditor (CoC) had approved Sterlite Power Transmission Ltd's (SPTL) bid by 95.15 per cent of voting share, which was subsequently also passed by the NCLT on January 30, 2020.

    The National Company Law Appellate Tribunal has referred the ongoing dispute between General Electric and Triveni Turbines over their joint venture back to the Bengaluru bench of the National Company Law Tribunal (NCLT).

    In the resolution plan mentioned in National Company Law Tribunal on Monday, this realisation of Rs 6,600 crore will happen when UVARCL manages to sell Aircel’s assets. There will be no upfront payment made to the lenders but they will get zero optionally convertible debentures spread over a period of five years.

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