Archives for August 2019

Appointment of CA Parveen Bansal as RP of Lanco Solar Energy Private Limited

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View this email in your browser (https://mailchi.mp/aaainsolvency.com/appointment-of-ca-parveen-bansal-as-rp-of-lanco-solar-energy-private-limited?e=2da00e8643) http://insolvencyandbankruptcy.in AAA Insolvency Professionals LLP (“AAAIP”) is pleased to announce that the appointment of CA Parveen Bansal as resolution professional of Lanco Solar Energy power Limited (“Lanco Solar”), has been approved by the Committee of Creditors through e-voting concluded on 23-07-2019. Lanco Solar is in EPC and O&M business for solar projects and has investments in 7 solar plants of 5 MW each through its subsidiaries and associate company. CA Parveen Bansal is a designated partner of AAAIP. AAAIP has evolved to become the largest Insolvency Professional Entity (IPE) of India having reputed partners spread across the country. About CA Parveen Bansal CA Parveen Bansal (https://insolvencyandbankruptcy.in/people/ca-parveen-bansal/) is a Chartered Accountant, insolvency professional. He has mixed experience of about 34 years working in industries, audit firm and professional practice. He has industry exposure of manufacturing, trading, real estate companies, ARC. He has managed 4 assignments relating to corporate insolvency out of which 2 cases has been resolved with the recovery of more than 50%. Other 2 assignments, which includes 1 assignment with zero assets are near completion for liquidation. In 1 assignment, textile factory, which was lying closed for more than 4 years, after the resolution of dues of 250 workers has already resumed production. He is the resolution professional for Lanco Thermal Power Limited. About AAA Insolvency Professionals LLP (AAAIP) AAAIP is the 2^nd IBBI recognized Insolvency Professional Entity. Under the guidance of CA Anil Goel, founder and chairman of AAAIP, AAAIP has grown as the largest Insolvency Professional Entity of India with 34 partners spread across India and have accumulated experience of more than 69 live cases of Corporate Insolvency Resolution Process / Liquidation. IPE & SARFAESI have more than 250+ human resources spread across 50 cities of the country. Currently, IPE has an experience of handling corporate insolvency process of 5 power projects. Thanks & Regards AAA Insolvency Professionals LLP (India’s Largest Insolvency Professionals Entity) www.insolvencyandbankruptcy.in (http://insolvencyandbankruptcy.in/) Phone: 011-4666 4651 AAAA Branches (https://insolvencyandbankruptcy.in/directory/head-office-delhi/) : Delhi I Mumbai I Kolkata I Raipur I Chennai I Hyderabad I Kochi | Ahmedabad | Ludhiana | Bengaluru | Ranchi I Nagpur ============================================================ Copyright © 2019 AAA Insolvency Professionals LLP, All rights reserved. (The largest Insolvency Professionals Entity of India) Our mailing address is: AAA Insolvency Professionals LLP E-10 Kailash Colony Delhi 110048 India Want to change how you receive these emails? You can ** update your preferences (https://insolvencyandbankruptcy.us20.list-manage.com/profile?u=9aaeca745f2d1d45c4eeb7a47&id=c1864db71d&e=2da00e8643) or ** unsubscribe from this list (https://insolvencyandbankruptcy.us20.list-manage.com/unsubscribe?u=9aaeca745f2d1d45c4eeb7a47&id=c1864db71d&e=2da00e8643&c=d1ad7e01a2) .

Kylie Cosmetics

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** ———————————————————— ** Everything you need to know about Kylie Cosmetics. ———————————————————— Kylie Jenner. It’s a name that many off you know. Her company, “Kylie Cosmetics” has accrued $900 million since she founded it in November 2015. And today, I will examine her in my Marketing Case study. Find Out More (https://yahoo.us3.list-manage.com/track/click?u=091e879126f7d64cbd159482b&id=ab049709e3&e=05dd5972ad) ============================================================ ** Facebook (https://yahoo.us3.list-manage.com/track/click?u=091e879126f7d64cbd159482b&id=a2f644e6a5&e=05dd5972ad) ** Twitter (https://yahoo.us3.list-manage.com/track/click?u=091e879126f7d64cbd159482b&id=6c8f052c6a&e=05dd5972ad) ** Link (https://yahoo.us3.list-manage.com/track/click?u=091e879126f7d64cbd159482b&id=b6047ef98e&e=05dd5972ad) ** Website (https://yahoo.us3.list-manage.com/track/click?u=091e879126f7d64cbd159482b&id=8f5e5bfcc3&e=05dd5972ad) Copyright © 2019 Marketing Today Blog, All rights reserved. You are receiving this email because you opted in via our website. Our mailing address is: Marketing Today Blog 12 rue Jean Louis Linquette Saint-ouen-l’aumone 95310 France Want to change how you receive these emails? You can ** update your preferences (https://yahoo.us3.list-manage.com/profile?u=091e879126f7d64cbd159482b&id=c064a3c830&e=05dd5972ad) or ** unsubscribe from this list (https://yahoo.us3.list-manage.com/unsubscribe?u=091e879126f7d64cbd159482b&id=c064a3c830&e=05dd5972ad&c=48b347b388) . Email Marketing Powered by Mailchimp http://www.mailchimp.com/monkey-rewards/?utm_source=freemium_newsletter&utm_medium=email&utm_campaign=monkey_rewards&aid=091e879126f7d64cbd159482b&afl=1

Insolvency and Bankruptcy News – AAAIP

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View this email in your browser (https://mailchi.mp/aaainsolvency.com/ibc-224341?e=2da00e8643) ** http://insolvencyandbankruptcy.in ———————————————————— * Insolvency law amendments to ensure greater timeliness: Nirmala Sitharaman (#Insolvency) * DHFL assures lenders of zero haircut on the principal under resolution plan (#DHFL) * Supreme Court defers hearing of Essar Steel insolvency case till 19 August (#Supreme) * CA Gautam Mittal joins as a new partner of AAA Insolvency Professionals LLP (#Gautam) * CA Binay Kumar Singhania joins as a new partner of AAA Insolvency Professionals LLP (#Binay) Dear Sir/Madam, We have introduced a weekly newsletter that will cover Insolvency news in the country. Since this will be a forever evolving newsletter your feedback is important to us. You may reply on this thread with your inputs. ** Insolvency law amendments to ensure greater timeliness: Nirmala Sitharaman ———————————————————— Amendments to insolvency law are aimed at ensuring greater timeliness for resolution process, which has to be completed in 330 days, and changes are to made in seven sections of the law, Corporate Affairs Minister Nirmala Sitharaman said on Thursday. Moving the Insolvency and Bankruptcy Code (Amendment) Bill, 2019 for passage in Lok Sabha, she said the changes would also bring in more clarity on various provisions, including time-bound disposal at the application stage for resolution plan and treatment of financial creditors. As many as seven sections of the Code are to be amended. Once the Corporate Insolvency Resolution Process (CIRP) begins, it has to be completed in 330 days, including litigation stages and judicial process, the minister said citing the proposed amendments. Continue reading (https://www.businesstoday.in/top-story/insolvency-law-amendments-to-ensure-greater-timeliness-nirmala-sitharaman/story/369672.html) ** DHFL assures lenders of zero haircut on the principal under resolution plan ———————————————————— The troubled Dewan Housing Finance Corporation Ltd (DHFL) on Tuesday assured that its lenders will not have to face any haircuts under the resolution plan. As part of the resolution plan, which was cleared by the Special Committee of the DHFL Board on Tuesday, DHFL will put a moratorium of repayments and will also seek funding from banks and the National Housing Board for re-starting retail lending. DHFL, in a regulatory filing, said that the plan will also take steps to address the asset-liability mismatch. According to sources, the company is seeking a moratorium for at least six months and working capital loans of ₹1,200-1,500 crore per month to start retail funding. DHFL will also bring in a strategic investor. Continue reading (https://www.thehindubusinessline.com/money-and-banking/dhfl-board-approves-resolution-plan-lenders-to-face-no-haircuts/article28833170.ece) ** Supreme Court defers hearing of Essar Steel insolvency case till 19 August ———————————————————— The Supreme Court on Wednesday deferred till 19 August hearing in the Essarhttps://www.livemint.com/news/india/ibc-amendment-a-response-to-essar-steel-bankruptcy-case-sitharaman-in-rs-1564412682531.htmlSteelhttps://www.livemint.com/news/india/ibc-amendment-a-response-to-essar-steel-bankruptcy-case-sitharaman-in-rs-1564412682531.htmlinsolvencyhttps://www.livemint.com/news/india/ibc-amendment-a-response-to-essar-steel-bankruptcy-case-sitharaman-in-rs-1564412682531.htmlcase, saying said the matter should be decided in light of fresh challenges following recent amendments to the Insolvency and Bankruptcy Code. A division bench, headed by Justice Rohinton Fali Nariman and comprising Justice Surya Kant, heard the submissions by operational creditors and agreed to adjourn the case till 19 August. The operational creditors said they would file petitions within a week challenging the validity of the amendments to the IBC. The apex court bench also sought the presence of Attorney General before it in relation to the matter and sought his assistance regarding the amendments and their effect on the case. Continue reading (https://www.livemint.com/companies/news/supreme-court-defers-hearing-of-essar-steel-insolvency-case-till-19-august-1565180682995.html) ** CA Gautam Mittal joins as a new partner of AAA Insolvency Professionals LLP ———————————————————— B.Com, FCA, Insolvency Professional Regn.No.IBBI/IPA-001/IP-P01331/2018-19/12058 Designated Partner Designated Partner, Ludhiana Total-experience: 18 Years Core Competence & Industry-specific experience Accounting, auditing, compliances for businesses Investment Banking, PE and Debt Syndication, Business Valuation, Credit Sanctioning & Monitoring. Industry Sectors: Iron & Steel, TMT Steel Plants, Fasteners, Forgings-Hot & Cold Auto Parts, Jewellery House Real Estate, Infrastructure Agriculture, Pharma, Power Exports, Retail, Textiles, Hosiery & Garment Manufacturing. Experience in restructuring & handling of Stressed Assets Successfully handled more than 50 Debt raising and Debt Restructuring assignments. Continue reading (https://insolvencyandbankruptcy.in/people/ca-gautam-mittal/) ** CA Binay Kumar Singhania joins as a new partner of AAA Insolvency Professionals LLP ———————————————————— B.Com., FCA, CAAT Insolvency Professional Regn.No. IBBI/IPA-001/IP-P00041/2017-18/10102 Designated Partner, Kolkata Total-experience: 22 Years ** Core Competence & Industry-specific experience ———————————————————— Statutory/Management audit, compliances, Company Law Matters, stock audits and Forensic Audits. Has experience in diverse industry sectors such as Hosiery, Printing, Real Estate, Agro Products and Iron & Steel Industries. ** Experience in restructuring & handling of Stressed Assets ———————————————————— Has successfully completed the forensic audits of the following companies: Name of entity Bank Exposure (Rs. Cr) Prithvi Ferro Alloy P Ltd 94 Megha Granules P Ltd 96 VSP Udyog P Ltd 195 Maheshwari Ispat Ltd 536 D C Industrial Plant Services P Ltd 269 Sriram Rathi Steels P Ltd 110 Corporate Power Limited 4562 Rashi Steel & Power Ltd 120 Continue reading (https://insolvencyandbankruptcy.in/people/ca-binay-kumar-singhania/) If you like our weekly newsletter, Please forward this to your Friends and Colleagues!! Thanks & Regards AAA Insolvency Professionals LLP (India’s Largest Insolvency Professionals Entity) www.insolvencyandbankruptcy.in (http://insolvencyandbankruptcy.in/) AAA Branches (https://insolvencyandbankruptcy.in/directory/head-office-delhi/) : New Delhi I Mumbai I Kolkata I Raipur I Chennai I Hyderabad I Kochi | Ahmedabad | Ludhiana | Bengaluru | Ranchi I Nagpur http://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fmailchi.mp%2Faaainsolvency.com%2Fibc-224341 Share (http://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fmailchi.mp%2Faaainsolvency.com%2Fibc-224341) http://twitter.com/intent/tweet?text=Insolvency+and+Bankruptcy+News+-+AAAIP: https%3A%2F%2Fmailchi.mp%2Faaainsolvency.com%2Fibc-224341 Tweet (http://twitter.com/intent/tweet?text=Insolvency+and+Bankruptcy+News+-+AAAIP: https%3A%2F%2Fmailchi.mp%2Faaainsolvency.com%2Fibc-224341) http://us20.forward-to-friend.com/forward?u=9aaeca745f2d1d45c4eeb7a47&id=c618f89f3c&e=2da00e8643 Forward (http://us20.forward-to-friend.com/forward?u=9aaeca745f2d1d45c4eeb7a47&id=c618f89f3c&e=2da00e8643) ============================================================ ** Facebook (https://www.facebook.com/anil.goel.7587) ** Twitter (https://twitter.com/Anilgoelca) ** LinkedIn (https://www.linkedin.com/in/ca-anil-goel-aaa-insolvency/) ** Website (https://insolvencyandbankruptcy.in) ** LinkedIn (https://www.linkedin.com/company/aaa-insolvency-professional-llp/) Copyright © 2019 AAA Insolvency Professionals LLP, All rights reserved. (The largest Insolvency Professionals Entity of India) Our mailing address is: AAA Insolvency Professionals LLP E-10 Kailash Colony Delhi 110048 India Want to change how you receive these emails? You can ** update your preferences (https://insolvencyandbankruptcy.us20.list-manage.com/profile?u=9aaeca745f2d1d45c4eeb7a47&id=c1864db71d&e=2da00e8643) or ** unsubscribe from this list (https://insolvencyandbankruptcy.us20.list-manage.com/unsubscribe?u=9aaeca745f2d1d45c4eeb7a47&id=c1864db71d&e=2da00e8643&c=c618f89f3c) .

Insolvency and Bankruptcy News – AAAIP

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View this email in your browser (https://mailchi.mp/aaainsolvency.com/ibc-219125?e=2da00e8643) ** http://insolvencyandbankruptcy.in ———————————————————— * Rajya Sabha Passes The Insolvency And Bankruptcy Code (Amendment) Bill (#RajyaSabha) * Raheja Developers to Face Insolvency Proceedings (#Raheja) * Curious case of CCD founder: V G Siddhartha was under heavy debt burden (#CCD) * CA. Bimal Agarwal joins as a new partner of AAA Insolvency Professionals LLP (#Bimal) * Mr. Anil Sharma joins as a new partner of AAA Insolvency Professionals LLP (#Anil) Dear We have introduced a weekly newsletter that will cover Insolvency news in the country. Since this will be a forever evolving newsletter your feedback is important to us. You may reply on this thread with your inputs. ** Rajya Sabha Passes The Insolvency And Bankruptcy Code (Amendment) Bill ———————————————————— The Rajya Sabha on Monday approved amending the three-year-old Insolvency and Bankruptcy Code (IBC), providing clarity about preference to secured lenders over operational creditors and giving lenders explicit authority over distribution of proceeds of auction of loan defaulting companies. Replying to a debate on the Insolvency and Bankruptcy Code (Amendment) Bill 2019, Finance Minister Nirmala Sitharaman said the changes being brought in now are in response to events that eroded legislative intent of the IBC. She referred to the Essar Steel insolvency case where the lenders and operational creditors have been treated at par by the bankruptcy court for distribution of auction proceeds. Continue reading (https://www.moneycontrol.com/news/india/rajya-sabha-passes-ibc-amendment-restoring-primacy-of-lenders-in-insolvency-cases-4262851.html) ** Raheja Developers to Face Insolvency Proceedings ———————————————————— Delhi-based builder Raheja Developers is facing insolvency proceedings as the National Company Law Appellate Tribunal (NCLAT) has directed the adjudicating authority to admit the matter under Section 9 of Insolvency and Bankruptcy Code, 2016. The appellate tribunal has set aside an earlier order in a plea filed by one of the operational creditors, Ahluwalia Contracts. The adjudicating authority, the National Company Law Tribunal, New Delhi, had earlier rejected Ahluwalia Contracts’ application on the grounds that the claim fell within the ambit of “disputed claim”, and arbitration proceedings were initiated. The matter relates to an outstanding payment of 6.51 crore. However, the appellate tribunal has ruled that if the dispute was not raised prior to the issuance of the demand notice, existence of a disputed claim cannot be a ground to reject an application under Section 9 of the IBC. Ahluwalia Contracts had moved the NCLT after the developer failed to pay despite several demand notices for its outstanding dues related to work executed by the company. Continue reading (https://economictimes.indiatimes.com/industry/services/property-/-cstruction/raheja-developers-to-face-insolvency-proceedings/articleshow/70406616.cms) ** Curious case of CCD founder: V G Siddhartha was under heavy debt burden ———————————————————— Coffee Day Enterprises, the holding firm of Coffee Day, had a total debt of around Rs 6,550 crore as on March 2019. Sources in the know said that debt level of the entity had drastically reduced after Siddhartha’s stake sale in Mindtree. In March this year, he had sold his entire 20.32 percent stake in the Bengaluru-headquartered IT services firm to an engineering major, L&T for around Rs 3,200 crore, which had been utilized to pare some debt from Coffee Day Enterprises’ balance sheet. Industry experts said that the Mindtree stake sale to L&T despite opposition from its founders could be linked to the desperateness of Siddhartha to reduce the company’s debt, which was taking a toll on the working capital need of the firm due to high-interest outgo. Recently, news reports also suggested that the Coffee Day Group was in talks with global beverage maker Coca-Cola for selling a slice of its equity at an enterprise valuation of around Rs 10,000 crore. Continue reading (https://www.business-standard.com/article/companies/curious-case-of-ccd-founder-v-g-siddhartha-was-under-heavy-debt-burden-119073000404_1.html) ** CA. Bimal Agarwal joins as a new partner of AAA Insolvency Professionals LLP ———————————————————— B.Com. (Hons.), FCA Insolvency Professional Regn. No. IBBI/IPA-001/IP-P00268/2017-18/10512 Designated Partner, Kolkata Total-experience: 25 Years Core Competence & Industry-specific experience Statutory audit, Internal Audit, Direct and Indirect Taxation along with Bank Audit, Specialisation in Management Consultancy, Project Financing. Industry sectors: Logistics & Transportation, Plastic Products Manufacturing, Jewellery. Experience in restructuring & handling of Stressed Assets Merger & Acquisition, Amalgamation, Bank loan proposals. Handling clients under financial stress for restructuring and rescheduling of their debt. ** Mr. Anil Sharma joins as a new partner of AAA Insolvency Professionals LLP ———————————————————— Designated Partner – New Delhi Registered IBBI Valuer & Insolvency Professional B-Tech EE, IIT Delhi, Diploma in Business Finance, ICFAI Certified Management Consultant, Regn. No. IBBI/IPA-003/IP-N00218/2019-2020 Total Number of years of experience: 37 Years Core Competence & Industry Specific Experience: * Senior Management Roles, Revenue and Operations Management, Strategic Partnerships, Key Initiatives, Program Management, Large Programs Implementation. * Worked at Senior Positions with Tata VSNL Limited, Dishnet DSL Limited, Multinationals like- BT India Pvt Ltd, Cisco Systems India Limited, Telcordia Technologies India Pvt Ltd, HCL, Industry-specific experience at Corporates including Telecom Service Providers, Computer & Electronics goods manufacturers, Telecom Solution Providers, Retail Broadband & Broadband Network Service Providers. Strategy Consulting for a large Solar Equipment and Power Electronics Manufacturing company in India and a Telecom Infra project management company, Sterling Projects. If you like our weekly newsletter, Please forward this to your Friends and Colleagues!! Thanks & Regards AAA Insolvency Professionals LLP (India’s Largest Insolvency Professionals Entity) www.insolvencyandbankruptcy.in (http://insolvencyandbankruptcy.in/) AAA Branches (https://insolvencyandbankruptcy.in/directory/head-office-delhi/) : New Delhi I Mumbai I Kolkata I Raipur I Chennai I Hyderabad I Kochi | Ahmedabad | Ludhiana | Bengaluru | Ranchi I Nagpur http://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fmailchi.mp%2Faaainsolvency.com%2Fibc-219125 Share (http://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fmailchi.mp%2Faaainsolvency.com%2Fibc-219125) http://twitter.com/intent/tweet?text=Insolvency+and+Bankruptcy+News+-+AAAIP: https%3A%2F%2Fmailchi.mp%2Faaainsolvency.com%2Fibc-219125 Tweet (http://twitter.com/intent/tweet?text=Insolvency+and+Bankruptcy+News+-+AAAIP: https%3A%2F%2Fmailchi.mp%2Faaainsolvency.com%2Fibc-219125) http://us20.forward-to-friend.com/forward?u=9aaeca745f2d1d45c4eeb7a47&id=549c7274f8&e=2da00e8643 Forward (http://us20.forward-to-friend.com/forward?u=9aaeca745f2d1d45c4eeb7a47&id=549c7274f8&e=2da00e8643) ============================================================ ** Facebook (https://www.facebook.com/anil.goel.7587) ** Twitter (https://twitter.com/Anilgoelca) ** LinkedIn (https://www.linkedin.com/in/ca-anil-goel-aaa-insolvency/) ** Website (https://insolvencyandbankruptcy.in) ** LinkedIn (https://www.linkedin.com/company/aaa-insolvency-professional-llp/) Copyright © 2019 AAA Insolvency Professionals LLP, All rights reserved. (The largest Insolvency Professionals Entity of India) Our mailing address is: AAA Insolvency Professionals LLP E-10 Kailash Colony Delhi 110048 India Want to change how you receive these emails? You can ** update your preferences (https://insolvencyandbankruptcy.us20.list-manage.com/profile?u=9aaeca745f2d1d45c4eeb7a47&id=c1864db71d&e=2da00e8643) or ** unsubscribe from this list (https://insolvencyandbankruptcy.us20.list-manage.com/unsubscribe?u=9aaeca745f2d1d45c4eeb7a47&id=c1864db71d&e=2da00e8643&c=549c7274f8) .