RCap second e-auction now on April 26
LIC has an admitted claim of Rs 4,909 crore and EPFO of Rs 3,309 crore, and they jointly have over 30% of the voting rights in the CoC. The beleaguered company’s total admitted claims are at Rs 25,434 crore. Key Points
FinancialexpressCreditors’ recovery via IBC surges to 36% of admitted claims in FY23
Data from the Insolvency and Bankruptcy Board of India (IBBI) showed that out of the total admitted claims of Rs 1.42 lakh crore, creditors realised rs 51,425 crore in FY23, compared to Rs 49,208 crore realised from admitted claims of Rs 2.14 lakh crore a year ago. Key Points
Economic TimesWest Bengal CM Mamata Banerjee sustains major injury; admitted to hospital
Mamata Banerjee, the Chief Minister of West Bengal, sustained a major injury and has been admitted to the hospital. The incident occurred at home, causing bleeding. Banerjee is conscious and is being stitched. A five-six member medical board has been formed for her treatment. State BJP president Sukanta Majumdar wishes her a speedy recovery. Key Points
Economic TimesPancard Clubs gets three firm offers for ₹5,034-cr debt
The company, which develops and operates hotels and resorts, is undergoing an in-court resolution process and more than 1.5 million financial creditors (timeshare subscribers) will be voting on these plans in the next couple of days to decide the successful resolution applicant. Key Points
Economic Times8 killed in cracker unit blast in Tamil Nadu
Krishnagiri (TN): Eight persons, three of them women, were killed in a blast at a cracker unit in Tamil Nadu’s Krishnagiri district on Saturday. PM Narendra Modi announced an ex gratia of Rs 2 lakh each to kin of the deceased. PTI Key Points
The Tribune India
Parkash Singh Badal moved to ICU, stable
In January 2022, Badal tested positive for Covid-19 and was admitted to a hospital in Ludhiana. Since then, he has been visiting hospitals for regular check-ups. | Latest News India Key Points
Hindustan TimesLosing control: Promoters clear nearly Rs 10 lakh crore 'default'
India Business News: Promoters settle 27,514 cases before admission in NCLT due to fear of losing control. Debtors resolve distress early. Lenders, financial creditors, an Key Points
Times Of IndiaCracking the Code: Q2 recovery under IBC rises to 33%
Improved investor interest in a broad range of small and medium enterprises and above-average realisation from the assets of a large company - Srei Group - boosted the recovery last quarter, showed the data. The realisation in the September quarter stood at ₹20,771 crore from about 85 stressed firms. Key Points
Economic TimesToddler among four injured after crane collapses in Chembur
The incident was reported at 3.46 pm after the trolley snapped and fell on a few neighbouring huts. Key Points
The Indian ExpressCBI probe won't help: Mamata Banerjee on Odisha train crash investigation
The Bengal chief minister said she had handed over the probe into the Gyaneshwari accident to the CBI 12 years ago. But the agency couldn't solve the case, she said. Key Points
India Today
HP’s first case of H3N2 emerges from Kangra
Kangra chief medical officer Dr Sushil Sharma said that a 2.5-month-old girl has been found infected in Paragpur area of the district. She has been admitted to Dr Rajendra Prasad Government College in Tanda Key Points
Hindustan TimesActor Sameer Khakhar, best known as Khopdi from Nukkad, dies at 71
Veteran actor Sameer Khakhar, who made a name for himself in the 1980s and 1990s on television, has died at the age of 71. His last appearance was in Farzi. Key Points
The Indian ExpressAfter Future Retail, now Future Enterprises admitted for insolvency
The Mumbai bench of the NCLT has ordered the ‘ordered the commencement of corporate insolvency resolution process’. The firm will now be auctioned in order to recover unpaid dues. Key Points
mintWife of billionaire Bill Ackman, who called for Harvard head Claudine Gay's exit, admits to plagiarism
Neri Oxman, a former MIT professor and the wife of billionaire Bill Ackman, who called for the resignation of Harvard president Claudine Gay over plagiarism allegations, has admitted to plagiarising content for her doctoral dissertation. She has apologised for her conduct. Key Points
India TodayReliance Retail, Jindal (India) make offers to acquire bankrupt Future Enterprises
Future Enterprises have received resolution plans from Jindal (India) Ltd, Reliance Retail Ventures and GBTL Ltd under the corporate insolvency process. The newly appointed resolution professional Avil Menezes disclosed the names of these three entities as a 'provisional list of prospective resolution applicants'. The RP has admitted Rs 12,265 crore of verified claims from lenders and Rs 23 crore of claims from fixed deposit holders. Key Points
Economic Times
SMBC Aviation Capital challenges NCLT order protecting Go First from recovery by lessors
On Wednesday, the NCLT admitted Go First's plea for voluntary insolvency and admitted for the initiation of Corporate Insolvency Resolution Process (CIRP) proceedings. NCLT has granted Go First protection under moratorium from recovery by lessors and lenders. US-based jet manufacturers Pratt and Whitney has defended itself against the budget airline's claim that P&W is responsible for the financial condition and bankruptcy. Key Points
Economic TimesInsolvency resolution high for manufacturing sector, lags for real estate
Manufacturing and real estate sectors in India have seen varying outcomes in insolvency cases. Manufacturing accounted for 38% of admitted cases but 48% of resolved ones, while real estate represented 21% of admitted cases but only 15% of resolved cases, according to data from the Insolvency and Bankruptcy Board of India. Key Points
Economic TimesBoiler blast in Haryana's Rewari, over 40 injured
Speaking to ANI, Dr Surender Yadav, a civil surgeon, said, “We have alerted the hospitals. We have sent the ambulance to the factory. Several people have burn injuries.” While one of the injured has been referred to Rohtak PGIMS, the rest have been admitted to various hospitals in the district, according to media reports. Key Points
Economic TimesWhat is Dermatomyositis? Know about the rare inflammatory condition that claimed ‘Dangal’ star Suhani Bhat
Bhatnagar was being treated at the AIIMS hospital, Delhi. She was admitted on February 7 and passed away on February 16, from several complications. The actress is best known for her luminous portrayal of the younger version of wrestler Babita Phogat in the 2016 blockbuster 'Dangal'. Key Points
Economic TimesRecord 273 stressed cases resolved via IBC in 2023
The realisation proceeds were to the tune of ₹67,000 crore in 2023 against ₹20,860 crore in 2022, according to the Insolvency and Bankruptcy Board of India (IBBI) data yet to be made public. The jump indicates a robust upward trajectory in the IBC's (Insolvency and Bankruptcy Code's) effectiveness, the official said. Key Points
Economic Times
Kerala blasts: Toll rises to 3 as another succumbs to wounds
In the statement issued by the hospital's medical board, the girl was admitted to the hospital on Sunday morning with severe burns covering 95 per cent of her body. Despite receiving ventilator support, her condition continued to deteriorate, leading to her death at 12.40 am, it said. Key Points
Economic TimesSassoon sends back five prisoners to Yerawada jail
Authorities have sent back five prisoners from Sassoon General Hospital to Yerawada Central Jail following the escape of drug haul mastermind Lalit Patil. Patil, who was admitted to the hospital for medical treatment, managed to flee on October 2. The prison department had previously tried to have the inmates returned to the jail, but the hospital claimed they couldn't be moved due to their medical conditions. After the escape, the hospital finally sent back the inmates. A committee has been appointed to review the treatment of prison inmates at the hospital. Key Points
Hindustan TimesHow Harry & Meghan’ plans to to ‘crash’ the monarchy and ‘take over’ the power | Explained
Prince Harry made a surprise visit to London’s High Court at the start of his privacy case against Associated Newspapers. But Harry’s and Meghan’s ultimate aim is to crash the monarchy. Key Points
FirstpostExplained: Harry & Meghan’s ultimate aim is to ‘crash’ the monarchy and ‘take over’
Prince Harry made a surprise visit to London’s High Court at the start of his privacy case against Associated Newspapers. But Harry’s and Meghan’s ultimate aim is to crash the monarchy. Key Points
FirstpostNCLT approves Welspun takeover of Sintex BAPL
The company was admitted to the NCLT under the Insolvency and Bankruptcy Code (IBC) in December 2020. The insolvency resolution process of Sintex BAPL had evinced interest from two bidders - JM Financial Asset Reconstruction Co Ltd and a consortium consisting of Welspun entity Propel Plastic Products Pvt Ltd and Plastauto Pvt Ltd. Key Points
Economic Times
SS Rajamouli says Oscar win will speed up RRR sequel script
At an after party, SS Rajamouli admitted that RRR's recent Oscar win for Naatu Naatu will have some impact on the sequel that is in the works. Last year, the director admitted that his screenwriter father Vijayendra Prasad was working on the story. Key Points
Hindustan Times