Insolvency
Latest news, explainers and analysis on Insolvency. Tracking 5 stories on Arth Vani.
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Latest on Insolvency
BreakingSubhash Chandra's ₹6.5 Cr Insolvency Settlement Sparks Creditor Outcry Over ₹22,000 Cr Claims
Essel Group founder Subhash Chandra is facing significant backlash from creditors over a proposed ₹6.5 crore settlement in his personal insolvency process. This settlement stands in stark contrast to the admitted claims of ₹22,000 crore, although Chandra clarifies that Indian bank claims are ₹5,311 crore, promising full repayment by principal creditors.
BreakingBanks Question Subhash Chandra's ₹40,562 Cr Net Worth Drop, RP's Role
Dissenting banks are raising serious concerns over the drastic fall in Subhash Chandra's net worth from ₹40,562 crore to ₹32 crore in his insolvency case. They are also questioning the role of Resolution Professional Shiv Nandan Sharma and the alleged crowding out by related parties in the Committee of Creditors, highlighting difficulties in high-profile debt recovery.
BreakingNCLT Approves 99.97% Haircut in Subhash Chandra Insolvency Case
The National Company Law Tribunal (NCLT) has cleared a resolution plan for Zee founder Subhash Chandra, allowing him to settle ₹22,006.57 crore in claims for just ₹6.5 crore. This massive haircut stems from his role as a personal guarantor rather than a direct borrower.
6.5 Lakh Investors Hit as Jaiprakash Associates Delists from BSE and NSE
Shares of Jaiprakash Associates (JAL) have been officially delisted from major stock exchanges following a marathon insolvency process. With the company's assets moving to the Adani Group, nearly 6.5 lakh retail shareholders face a potential total loss of their investment value.
BreakingJAL Shares to Delist on Thursday: 6 Lakh Shareholders to Receive Zero Value
Jaiprakash Associates (JAL) will be removed from the BSE and NSE on June 18 following its acquisition by the Adani Group. Under the court-approved insolvency plan, the existing equity is being completely extinguished, leaving retail investors with no compensation.
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