Bitcoin fell as traders monitored transfers by wallets belonging to the failed Mt. Gox exchange, whose administrators have been stepping up efforts to return a $9 billion hoard of the largest digital asset to creditors. The original cryptocurrency dropped as much as 2.7% and was trading at about $67,840 as of 12:15 p.m. Tuesday in … Read more
After a delay of nearly seven years, lenders of Amtek Auto’s listed subsidiary Metalysts Forgings are likely to recover part of their dues, as the bankruptcy court has approved the company’s acquisition. The Mumbai bench of the National Company Law Tribunal (NCLT) has given its nod to Metalyst Forgings’ acquisition by Deccan Value Investors LP-led … Read more
Mumbai: Promoters of distressed engineering, procurement and construction (EPC) company Gayatri Projects (GPL) made a nearly ₹750 crore offer to creditors seeking to settle dues worth ₹9,115 crore after banks filed for the company’s liquidation. However, a successful outcome is far from easy as any settlement with promoters under Section 12A of Insolvency and Bankruptcy … Read more
Mumbai: Creditors to Gayatri Projects (GPL), promoted by former Rajya Sabha MP T Subbarami Reddy, have voted to initiate liquidation proceedings against the company after rejecting the only bid from private equity fund Mark AB Capital Investment LLC, people familiar with the matter said. Mark AB was offering a total of ₹650 crore, of which … Read more
