Posts by admin

Celebrating 100 Cases – AAA Insolvency Milestones!!

FacebookStumbleUponGoogle+TwitterEmail

View this email in your browser (https://mailchi.mp/31c39da1d4fd/celebrating-100-cases-aaa-insolvency-milestones-224593?e=2da00e8643) The AAA Insolvency Professionals is thrilled to celebrate this milestone with you. On this occasion, we hope that you will take a moment to reflect on the AAA Insolvency has played in your life and find time to celebrate this special milestone in a way that is meaningful to you. * Connect with our organization. * Learn what is happening in AAA Insolvency by visiting our website (https://insolvencyandbankruptcy.in) and following on social media. Let us know how you choose to celebrate! we love hearing from you Thanks & Regards AAA Insolvency Professionals LLP (India’s Largest Insolvency Professional Entity) Phone: 011-4666 4600 anilgoel@aaainsolvency.com (mailto:anilgoel@aaainsolvency.com) www.insolvencyandbankruptcy.in (https://insolvencyandbankruptcy.us20.list-manage.com/track/click?u=9aaeca745f2d1d45c4eeb7a47&id=197fd05876&e=46b084c9e8) AAA Branches (https://insolvencyandbankruptcy.us20.list-manage.com/track/click?u=9aaeca745f2d1d45c4eeb7a47&id=c631f002da&e=46b084c9e8) : Delhi I Mumbai I Kolkata I Raipur I Chennai I Hyderabad I Kochi | Ahmedabad | Ludhiana | Bengaluru | Ranchi I Nagpur ============================================================ ** Twitter (https://twitter.com/Anilgoelca) ** Facebook (https://www.facebook.com/anil.goel.7587) ** Website (https://insolvencyandbankruptcy.in) ** LinkedIn (https://in.linkedin.com/in/ca-anil-goel-aaa-insolvency) Copyright © 2019 AAA Insolvency Professionals LLP, All rights reserved. You are receiving this email because you opted-in at our website Our mailing address is: AAA Insolvency Professionals LLP E-10A 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=99b53bbe97&e=2da00e8643) or ** unsubscribe from this list (https://insolvencyandbankruptcy.us20.list-manage.com/unsubscribe?u=9aaeca745f2d1d45c4eeb7a47&id=99b53bbe97&e=2da00e8643&c=2cdbccce7d) .

Promote your business form digital marketing

FacebookStumbleUponGoogle+TwitterEmail

We`re Creative by Birth https://gmail.us4.list-manage.com/track/click?u=fa0cac5cb853fd8632b40c77d&id=df5a785cda&e=e76a8adf22 Want Perfect Digital Marketing…? Let’s GO. ============================================================ ** (https://gmail.us4.list-manage.com/track/click?u=fa0cac5cb853fd8632b40c77d&id=c7ad38c99e&e=e76a8adf22) Email-info@digitalgoku.com Toll free- +91-9140850173 Copyright © 2019 ** Digitalgoku (https://gmail.us4.list-manage.com/track/click?u=fa0cac5cb853fd8632b40c77d&id=b508eca829&e=e76a8adf22) Pvt. Ltd. | All Rights Reserved This email was sent to radiosangharsh@gmail.com (mailto:radiosangharsh@gmail.com) why did I get this? (https://gmail.us4.list-manage.com/about?u=fa0cac5cb853fd8632b40c77d&id=83e6e861fa&e=e76a8adf22&c=58537f9d31) unsubscribe from this list (https://gmail.us4.list-manage.com/unsubscribe?u=fa0cac5cb853fd8632b40c77d&id=83e6e861fa&e=e76a8adf22&c=58537f9d31) update subscription preferences (https://gmail.us4.list-manage.com/profile?u=fa0cac5cb853fd8632b40c77d&id=83e6e861fa&e=e76a8adf22) Digital Goku . Neem sarai , mundera , allahabad . allahabad . Allahabad 211011 . India Email Marketing Powered by Mailchimp http://www.mailchimp.com/monkey-rewards/?utm_source=freemium_newsletter&utm_medium=email&utm_campaign=monkey_rewards&aid=fa0cac5cb853fd8632b40c77d&afl=1

NCLT has inherent power to impose Moratorium even prior to initiation of CIRP

FacebookStumbleUponGoogle+TwitterEmail

View this email in your browser (https://mailchi.mp/04e5ea1e7092/nclt-has-inherent-power-to-impose-moratorium-even-prior-to-initiation-of-cirp-224565?e=2da00e8643) The Hon’ble NCLAT has in a crucial decision held that the NCLT has the powers to declare moratorium prior to admission of the petition against the corporate debtor. In the case of “NUI Pulp and Paper Industries Pvt Ltd v. M/s Roxcel Trading GMBH”, an appeal was filed by M/s NUI Pulp and Paper Industries Pvt Ltd (Appellant/Corporate Debtor) against the order of the NCLT, Chennai wherein the NCLT had directed the directors of the corporate debtor not to alienate, encumber, or create any third party interest on the assets of the corporate debtor till admission/rejection of the petition by the NCLT. What exactly transpired: * Appellant contended that before Admission of the petition, NCLT has no powers to restrain the corporate debtor or its directors from alienating, encumbering or creating third party interest. * Respondent/Operational Creditor had expressed the apprehension that the Corporate Debtor or its directors are intended to sell assets of the corporate debtor to cause wrongful losses to the Respondent. * Counsel on behalf of the Corporate Debtor could not give any undertaking against selling, alienating or transferring assets of the Corporate Debtor. What was held by NCLAT: * Once an application under Section 7 or 9 is filed in the Adjudicating Authority, it is not necessary for the Adjudicating Authority to await hearing of the parties for passing order of ‘Moratorium’ under Section 14 of the I&B Code. * To ensure that one or other party may not abuse the process of the Tribunal or for meeting the ends of justice, it is always open to the Tribunal to pass an appropriate interim order. Thanks & Regards AAA Insolvency Professionals LLP (India’s Largest Insolvency Professional Entity) Phone: 011-4666 4600 anilgoel@aaainsolvency.com (mailto:anilgoel@aaainsolvency.com) www.insolvencyandbankruptcy.in (https://insolvencyandbankruptcy.us20.list-manage.com/track/click?u=9aaeca745f2d1d45c4eeb7a47&id=197fd05876&e=46b084c9e8) AAA Branches (https://insolvencyandbankruptcy.us20.list-manage.com/track/click?u=9aaeca745f2d1d45c4eeb7a47&id=c631f002da&e=46b084c9e8) : Delhi I Mumbai I Kolkata I Raipur I Chennai I Hyderabad I Kochi | Ahmedabad | Ludhiana | Bengaluru | Ranchi I Nagpur https://www.facebook.com/anil.goel.7587 https://www.twitter.com/Anilgoelca/ https://insolvencyandbankruptcy.in https://www.linkedin.com/in/ca-anil-goel-aaa-insolvency/ ============================================================ Copyright © 2019 AAA Insolvency Professionals LLP, All rights reserved. You are receiving this email because you opted-in at our website Our mailing address is: AAA Insolvency Professionals LLP E-10A 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=99b53bbe97&e=2da00e8643) or ** unsubscribe from this list (https://insolvencyandbankruptcy.us20.list-manage.com/unsubscribe?u=9aaeca745f2d1d45c4eeb7a47&id=99b53bbe97&e=2da00e8643&c=58c4d66d62) .

NCLAT held that Workmen dues of Pension Fund, Provident Fund and Gratuity Trust Fund not part of Liquidation Assets.

FacebookStumbleUponGoogle+TwitterEmail

View this email in your browser (https://mailchi.mp/37ffca410681/nclat-held-that-workmen-dues-of-pension-fund-provident-fund-and-gratuity-trust-fund-not-part-of-liquidation-assets-224485?e=2da00e8643) The Legal Team of AAA Insolvency Professionals LLP has done a thorough analysis of a landmark judgment passed by NCLAT in the case of State bank of India v Moser Baer Karamchari Union & Anr. On 19th August, the NCLAT delivered a landmark judgment paving the way for thousands of aggrieved employees struggling to get their dues from the Companies going through liquidation. What transpired in Court: * Moser Baer Karamchari Union moved Court praying for directions to the Liquidator to exclude the amount due to them towards ‘Provident Fund’, ‘Pension Fund’ and ‘Gratuity trust Fund’ payable waterfall mechanism under Section 53. * Earlier, NCLT Delhi in its order dated 19.03.2019 held that Provident Fund’, ‘Pension Fund’ and ‘Gratuity trust Fund’ cannot be part of Section 53 of the IBC. * SBI (Secured Creditor/ Appellant) has appealed against the order of NCLT Delhi arguing that dues of employees including contribution to Provident fund, Pension fund and Gratuity fund should be included in liquidation estate as per Section 326 and Section 327 of the Companies Act. * On the other hand, Resolution Professional submitted that Section 36(4)(a)(iii) of the IBC specifically excludes all sums due to any workman or employee from the provident fund, the pension fund and the gratuity fund from liquidation estate. Question of law: Whether the provident fund, the pension fund and the gratuity fund come within the meaning of assets of the Corporate Debtor for distribution under Section 53 of the Code. What Court held: * In terms of Section 36(4)(a)(iii) of the Code, all sums due to any workman or employees from the provident fund, the pension fund and the gratuity fund, do not form part of the liquidation estate/ liquidation assets. * Explanation (iii) below Section 53, for the purposes of the meaning of ‘workmen’s dues’, cannot derive the meaning as assigned to it in Section 326 of the Companies Act, 2013. * Once the liquidation estate/ assets pf the Corporate Debtor under Section 36(1) read with Section 36(3) do not include all sum due to any workman/employees from provident fund, the pension fund and the gratuity fund, the same funds cannot be included under Section 53 for distribution of assets. Thanks & Regards AAA Insolvency Professionals LLP (India’s Largest Insolvency Professional Entity) Phone: 011-4666 4600 anilgoel@aaainsolvency.com (mailto:anilgoel@aaainsolvency.com) www.insolvencyandbankruptcy.in (https://insolvencyandbankruptcy.us20.list-manage.com/track/click?u=9aaeca745f2d1d45c4eeb7a47&id=197fd05876&e=46b084c9e8) AAA Branches (https://insolvencyandbankruptcy.us20.list-manage.com/track/click?u=9aaeca745f2d1d45c4eeb7a47&id=c631f002da&e=46b084c9e8) : 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%2F37ffca410681%2Fnclat-held-that-workmen-dues-of-pension-fund-provident-fund-and-gratuity-trust-fund-not-part-of-liquidation-assets-224485 Share (http://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fmailchi.mp%2F37ffca410681%2Fnclat-held-that-workmen-dues-of-pension-fund-provident-fund-and-gratuity-trust-fund-not-part-of-liquidation-assets-224485) http://twitter.com/intent/tweet?text=NCLAT+held+that+Workmen+dues+of+Pension+Fund%2C+Provident+Fund+and+Gratuity+Trust+Fund+not+part+of+Liquidation+Assets.: https%3A%2F%2Fmailchi.mp%2F37ffca410681%2Fnclat-held-that-workmen-dues-of-pension-fund-provident-fund-and-gratuity-trust-fund-not-part-of-liquidation-assets-224485 Tweet (http://twitter.com/intent/tweet?text=NCLAT+held+that+Workmen+dues+of+Pension+Fund%2C+Provident+Fund+and+Gratuity+Trust+Fund+not+part+of+Liquidation+Assets.: https%3A%2F%2Fmailchi.mp%2F37ffca410681%2Fnclat-held-that-workmen-dues-of-pension-fund-provident-fund-and-gratuity-trust-fund-not-part-of-liquidation-assets-224485) http://us20.forward-to-friend.com/forward?u=9aaeca745f2d1d45c4eeb7a47&id=6fefa8decd&e=2da00e8643 Forward (http://us20.forward-to-friend.com/forward?u=9aaeca745f2d1d45c4eeb7a47&id=6fefa8decd&e=2da00e8643) https://www.facebook.com/anil.goel.7587 https://www.twitter.com/Anilgoelca/ https://insolvencyandbankruptcy.in https://www.linkedin.com/in/ca-anil-goel-aaa-insolvency/ ============================================================ Copyright © 2019 AAA Insolvency Professionals LLP, All rights reserved. You are receiving this email because you opted-in at our website Our mailing address is: AAA Insolvency Professionals LLP E-10A 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=99b53bbe97&e=2da00e8643) or ** unsubscribe from this list (https://insolvencyandbankruptcy.us20.list-manage.com/unsubscribe?u=9aaeca745f2d1d45c4eeb7a47&id=99b53bbe97&e=2da00e8643&c=6fefa8decd) .

Debt Recovery

FacebookStumbleUponGoogle+TwitterEmail

I write on behalf of AAA Insolvency Professionals LLP!! View this email in your browser (https://mailchi.mp/48a537bab193/debt-recovery-solution-aaa-insolvency-professionals-224413?e=2da00e8643) ** ———————————————————— Dear Sir, I write on behalf of AAA Insolvency Professionals LLP, an Insolvency Professional Entity (IPE) registered with the Insolvency and Bankruptcy Board of India (IBBI) under the Insolvency & Bankruptcy Code, 2016 (IBC). We are the largest such IPE in the country and have been dealing solely with cases under the IBC since the Code was enacted. We currently have more than 34 partners (https://insolvencyandbankruptcy.in/people/) in 14 offices all over the country with a staff strength of more than 250 who are capable of handling cases of any magnitude under IBC or Sarfaesi. IBC has given the status of an ‘operational creditor’ to any supplier of goods or services whose debt remains unpaid. Using said status, an operational creditor can file an application under the IBC for initiation of insolvency proceedings against any such debtor, which would essentially mean the losing control and custody of their business to the creditors of the company through a Resolution Professional, like us. Such proceedings generally result in quick payment to the creditors of the company, either through settlement or the sale of the company as a going concern to another person or through its liquidation. Either way, the operational creditors are most benefitted through the settlement of debt by the Companies else the Company will perish and promoters will lose the company. At times, the threat alone results in immediate settlement of dues by the debtor. We understand your firm is providing consultancy/auditing services to several of the entities/companies in India, we understand how bad debts may be affecting the financial status of these companies and would like to propose our services in the recovery of such debt for any entity under your purview. We would like to have a call with you to discuss how your clients can benefit from this revolutionary law. We also urge you to give us the names of such entities which might require our help in order to enable us to speak to the respective proprietors/ partners/ directors of the same at our end as well. In furtherance to the above proposal, we would love to discuss our business further, along with our potential assistance in the recovery of your debts. Looking forward to your reply. Thanks & Regards Rohit Mob: +918506801082 Phone: 011-4666 4651 Other Offices (https://insolvencyandbankruptcy.in/directory/head-office-delhi/) : Mumbai I Kolkata I Raipur I Chennai I Hyderabad I Kochi | Ahmedabad | Ludhiana | Bengaluru | Ranchi I Nagpur ============================================================ ** Share (http://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fmailchi.mp%2F48a537bab193%2Fdebt-recovery-solution-aaa-insolvency-professionals-224413) ** Share (http://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fmailchi.mp%2F48a537bab193%2Fdebt-recovery-solution-aaa-insolvency-professionals-224413) ** Tweet (http://twitter.com/intent/tweet?text=Debt+Recovery: https%3A%2F%2Fmailchi.mp%2F48a537bab193%2Fdebt-recovery-solution-aaa-insolvency-professionals-224413) ** Tweet (http://twitter.com/intent/tweet?text=Debt+Recovery: https%3A%2F%2Fmailchi.mp%2F48a537bab193%2Fdebt-recovery-solution-aaa-insolvency-professionals-224413) ** Forward (http://us20.forward-to-friend.com/forward?u=9aaeca745f2d1d45c4eeb7a47&id=79b224186e&e=2da00e8643) ** Forward (http://us20.forward-to-friend.com/forward?u=9aaeca745f2d1d45c4eeb7a47&id=79b224186e&e=2da00e8643) ** Facebook (http://www.facebook.com) ** Twitter (http://www.twitter.com/) ** LinkedIn (https://www.linkedin.com/in/ca-anil-goel-aaa-insolvency/) ** Website (https://insolvencyandbankruptcy.in) Copyright © 2019 AAA Insolvency Professionals LLP, All rights reserved. You are receiving this email because you opted-in at our website Our mailing address is: AAA Insolvency Professionals LLP E-10A 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=99b53bbe97&e=2da00e8643) or ** unsubscribe from this list (https://insolvencyandbankruptcy.us20.list-manage.com/unsubscribe?u=9aaeca745f2d1d45c4eeb7a47&id=99b53bbe97&e=2da00e8643&c=79b224186e) .

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

FacebookStumbleUponGoogle+TwitterEmail

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

FacebookStumbleUponGoogle+TwitterEmail

** ———————————————————— ** 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

FacebookStumbleUponGoogle+TwitterEmail

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

FacebookStumbleUponGoogle+TwitterEmail

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) .

Travelize- Lead Management application

FacebookStumbleUponGoogle+TwitterEmail

Hello, Warm Greetings from Travelize!! I am delighted to discuss with you and your organization how our product *“TRAVELIZE”* will help your business for Smart Field Service Management. Travelize is a digital geo-location application which is developed to manage easy work-flow and benefits the field employees’ as well as the manager *Time is running out!! Look @ 6 SECRETS TO EFFECTIVE FIELD SERVICE: * 1. Remote attendance management 2. Schedule meetings online & view status (Completed/pending) 3. Track distance covered (Km) with Geofence 4. Notice mobile signal strength & battery level 5. Import reports in one click from cloud database 6. Pre-built analytics shows productivity level *Benefits: Saves time, Cost-effective, and eliminates manual work-flow.* Would you be interested to have a look into it? *Kindly revert back with your valuable feedback and contact details.* I look forward to your positive response Best Regards, Rudra Team-Travelize *If you are not interested please reply in subject line as UNSUBSCRIBE* [image: beacon]

Insolvency and Bankruptcy News – AAA Insolvency Professionals

FacebookStumbleUponGoogle+TwitterEmail

View this email in your browser (https://mailchi.mp/aaainsolvency.com/ibc-213357?e=2da00e8643) ** ———————————————————— * Lenders to Essar Steel move Supreme Court against NCLAT ruling (#Essarsteel) * NCLAT dismisses contempt plea against Anil Ambani, others (#AnilAmbani) * NCLAT stays liquidation process against Adhunik Metaliks (#NCLT) * Reliance Communications lenders to seek Rs 580 crore from Ericsson claiming violation of IBC (#Reliance) * CMA. Deepika B Prasad joins as a new partner of AAA Insolvency Professionals LLP (#Deepika) * CA K.V. Sivaraman joins as a new partner of AAA Insolvency Professionals LLP (#Sivaraman) 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. ** Apex court stays NCLAT verdict in Essar Steel insolvency case ———————————————————— The Supreme Court on Monday put on hold the sale of Essar Steel India Ltd to ArcelorMittal after lenders to the bankrupt Indian steelmaker challenged an appeals court ruling that said operational creditors have to be treated on a par with financial creditors. The Supreme Court agreed to “expeditiously” hear the plea filed by banks against the National Company Law Appellate Tribunal (NCLAT) order of 4 July. The bankruptcy appeals court order, approving ArcelorMittal’s₹42,000 crore offer for Essar Steel, had upset secured financial creditors, as it diminished their priority rights to the proceeds generated from the sale or liquidation of a bankrupt entity. Continue reading (https://www.livemint.com/companies/news/supreme-court-puts-essar-steel-sale-to-arcelormittal-on-hold-temporarily-1563779714430.html) ** NCLAT dismisses contempt plea against Anil Ambani, others ———————————————————— The National Company Law Appellate Tribunal has dismissed a contempt petition filed against Reliance Group Chairman Anil Ambani and other officials by minority shareholders of tower unit Reliance Infratel, including HSBC Daisy, alleging non-payment of settlement dues. “We find no case is made out for initiation of contempt proceedings… Both the applications… are accordingly dismissed,” a two-member bench led by justice SJ Mukhopadhaya said. HSBC Daisy and others had moved a contempt plea in the appellate tribunal, alleging that Reliance Infratel had not paid up about Rs 230 crore as mandated by the NCLAT under a pact to settle a dispute over unpaid dues. Continue reading (https://economictimes.indiatimes.com/industry/telecom/telecom-news/nclat-dismisses-contempt-petitions-against-anil-ambani-over-rcom-payment-default/articleshow/70352117.cms) ** NCLAT stays liquidation process against Adhunik Metaliks ———————————————————— The National Company Law Appellate Tribunal (NCLAT) has stayed the liquidation process against corporate debtor Adhunik Metaliks. This follows an appeal by Liberty House group. The latter had emerged the successful resolution applicant for Adhunik Metaliks. However, since it failed to implement its resolution plan, the Cuttack Bench of NCLT had passed an order for liquidation of Adhunik Metaliks Ltd and group company Zion Steel on July 8, 2019. In a notification to the stock exchanges on Monday, Adhunik Metaliks said the NCLAT passed an order on July 17, 2019, stating that the “operation of the impugned order of liquidation shall remain stayed.” Earlier, State Bank of India had filed an application to initiate the insolvency process against the companies after they defaulted in repaying the debt of over Rs 747 crore. Continue reading (https://economictimes.indiatimes.com/industry/indl-goods/svs/metals-mining/nclat-stays-liquidation-process-against-adhunik-metaliks/articleshow/70347237.cms) ** Reliance Communications lenders to seek Rs 580 crore from Ericsson claiming violation of IBC ———————————————————— ** ———————————————————— Lenders to Reliance Communications (RCom) have decided to send a demand notice to Ericsson, asking the Swedish telecom equipment maker to refund the Rs 580 crore that it received from the erstwhile Anil Ambani-owned telco under a Supreme Court directive, according to people directly aware of the matter. The lenders claim the payment to Ericsson qualifies as a ‘preferential transaction’ under the Insolvency and Bankruptcy Code (IBC). The decision was taken at a recent meeting of RCom’s committee of creditors, and the consortium of lenders led by SBI is likely to send a formal communication to Ericsson soon, according to two independent sources. RCom was admitted for insolvency proceedings in the National Company Law Tribunal in February. Continue reading (https://economictimes.indiatimes.com/industry/telecom/telecom-news/reliance-communications-lenders-to-seek-rs-580-crore-from-ericsson-claiming-violation-of-ibc/articleshow/70338401.cms) ** CMA. Deepika B Prasad join as a new partner of AAA Insolvency Professionals LLP ———————————————————— Cost & Management Accountant Insolvency Professional Regn.No. IBBI /IPA-003/IP-N000110/2017-2018/11186 Designated Partner, New Delhi 20 Years Core Competence & Industry-specific experience Experience under IBC Presently IRP in the case of: * M/s. Compact Lamps Pvt. Ltd. Worked alongside RP’s in the following cases: * M/s. Advantage Projects and Consultants Pvt. Ltd. M/s. Kunj Forgings Pvt.Ltd. Management consulting, financial modeling, business restructuring and costing assignments with India’s renowned organizations. Internal Audit, Feasibility and setting up of new projects, Project Management& appraisal, Rehabilitation and restructuring under BIFR. Worked in: Healthcare Industry, Automobile Industry, the Energy sector – EPC Companies, Engineering Industry, Textile Industry, Garment Industry, Electronics, Fertilizer Industry, Television Broadcasting Industry, E-Commerce. Continue reading (https://insolvencyandbankruptcy.in/people/cma-deepika-b-prasad/) ** CA K.V. Sivaraman joins as a new partner of AAA Insolvency Professionals LLP ———————————————————— B.Com, ICWAI (Inter), FCA Designated Partner New Delhi Regn. No. IBBI/IPA-001/IP-P00900/2017-2018/11497 Designated Partner, New Delhi Total-experience: 30 Years of Core Competence & Industry-specific experience Accounts Audit and Taxation, Finance and Treasury Management, Credit Insurance, Running and Managing of Business Operations. Work Experience in various Industry Sectors as senior management personnel/ consultant such as Ceramic ware – EID Parry (I) Ltd., Leather Goods – Hidesign, HDPE/PP Bags – Stanpacks (I) Ltd., Hospital – Madurai Meenakshi Mission Hospital & Research Centre, KPO/ BPO Operations – BBW Accounting Services (P) Ltd., IT Distribution – Global Infonet Distribution (P) Ltd., Merchant Trading – TUF Metallurgical (P) Ltd., Management Audit – Sahara India Parivar, Fishing Operations – Fortune Fisheries Group. IFST for 9 Years from SIPCOT for Stanpacks (I) Ltd. continue reading (https://insolvencyandbankruptcy.in/people/ca-k-v-sivaraman/) 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) 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-213357 Share (http://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fmailchi.mp%2Faaainsolvency.com%2Fibc-213357) http://twitter.com/intent/tweet?text=Insolvency+and+Bankruptcy+News+-+AAA+Insolvency+Professionals: https%3A%2F%2Fmailchi.mp%2Faaainsolvency.com%2Fibc-213357 Tweet (http://twitter.com/intent/tweet?text=Insolvency+and+Bankruptcy+News+-+AAA+Insolvency+Professionals: https%3A%2F%2Fmailchi.mp%2Faaainsolvency.com%2Fibc-213357) http://us20.forward-to-friend.com/forward?u=9aaeca745f2d1d45c4eeb7a47&id=3b84942b63&e=2da00e8643 Forward (http://us20.forward-to-friend.com/forward?u=9aaeca745f2d1d45c4eeb7a47&id=3b84942b63&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=3b84942b63) .

Proposed Amendment to Insolvency and Bankruptcy Code – Cabinet Approved!!

FacebookStumbleUponGoogle+TwitterEmail

View this email in your browser (https://mailchi.mp/aaainsolvency.com/proposed-amendment-to-insolvency-and-bankruptcy-code-cabinet-approved?e=2da00e8643) Thanks & Best Regards Anil Goel Chartered Accountant & Insolvency Professional Founder Chairman AAA Insolvency Professionals LLP (The largest Insolvency Professionals Entity of India) Founder Chairman AAA Capital Services Private Limited (India’s largest ‘Resolution & Enforcement Agents’ under SARFAESI Act) Senior Partner AKG & Co., Chartered Accountants Head Office: E-10A, Kailash Colony, New Delhi-110048 Mob: 9811055148 Phone: 011-4666 4600 Other Offices: 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=22640dbb03) .

Insolvency and Bankruptcy News – AAA Insolvency Professionals

FacebookStumbleUponGoogle+TwitterEmail

View this email in your browser (https://mailchi.mp/aaainsolvency.com/ibc-208213?e=2da00e8643) ** ———————————————————— * Lenders to Essar Steel move Supreme Court against NCLAT ruling (#Essarsteel) * Bhushan Power ‘fund diversion’ under CBI lens (#Bhushanpower) * NCLAT asks IL&FS, govt about steps taken for 55 loss making red firms (#NCLTask) * Jet Airways case: Dutch insolvency administrator moves NCLAT (#JetAirways) * Mr. CA Suresh Kannan join as a new partner of AAA Insolvency Professionals LLP (#SureshKannan) * Mr. CA Vishal Sharma join as a new partner of AAA Insolvency Professionals LLP (#BinayKumar) 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. ** Lenders to Essar Steel move Supreme Court against NCLAT ruling ———————————————————— (The Essar Steel case pertains to a 10-million tonne per annum steel mill in Gujarat, which became insolvent in August 2017, with dues of more than ₹54,000 crore.) A consortium of lenders led by State Bank of India has filed a petition before the Supreme Court against a National Company Law Appellate Tribunal (NCLAT) ruling that Essar Steel’s operational creditors have to be treated on a par with financial creditors at the time of settling claims. The insolvency court’s ruling is expected to have a far-reaching impact and could significantly improve recoveries for operational creditors, who were so far considered to be a notch below financial creditors. Continue reading (https://www.livemint.com/companies/news/lenders-to-essar-steel-move-supreme-court-against-nclat-ruling-1563285565612.html) ** Bhushan Power ‘fund diversion’ under CBI lens ———————————————————— The Central Bureau of Investigation, which is probing Bhushan Power & Steel Ltd after it defaulted on Rs 47,204 crore of loans from 33 banks and financial institutions, is focussing on the alleged diversion of Rs 2,348 crore by the company to over 200 ‘shell and bogus’ entities according to the FIR filed by it, people aware of the matter told ET. The modus operandi of the fund diversion was similar to the one used by Bhushan Steel Ltd, which once belonged to the Brij Bhushan Singal group. The amount involved matches the figure that the income-tax department said had been diverted over a seven-year period. In addition, the CBI uncovered discrepancies between the books of BPSL and the shell companies. Amounts totaling Rs 537.85 crore were diverted to 86 shell companies “without any obvious purpose” and were shown as payments made by BPSL, the CBI said in a complaint. “Loans were availed of from 33 banks, purportedly for working capital and purchase of plant and machinery. However, they diverted over Rs 2,300 crore to over 200 shell companies,” said one person. Continue reading (https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/bhushan-power-fund-diversion-under-cbi-lens/articleshow/70253573.cms) ** NCLAT asks IL&FS, govt about steps taken for 55 loss making red firms ———————————————————— The National Company Law Appellate Tribunal has asked from the government and IL&FS about the steps being taken for the 55 loss-making red entities of the debt-ridden group. A two-member NCLAT bench headed by Chairman Justice S J Mukhopadhaya has asked IL&FS and the Ministry of Corporate Affairs to file an affidavit within two weeks stating the time it would take to decide on it. The appellate tribunal has also asked as to whether any such red entities could be categorized into a green or amber list of IL&FS companies. Meanwhile, during the course of hearing, IL&FS informed that three amber listed companies would be upgraded to green entities as they have signed a term sheet with their lenders for the restructuring of their debts, etc. Continue reading (https://economictimes.indiatimes.com/industry/banking/finance/banking/nclat-asks-ilfs-govt-about-steps-taken-for-55-loss-making-red-firms/articleshow/70196957.cms) ** Jet Airways case: Dutch insolvency administrator moves NCLAT ———————————————————— (A three-member NCLAT bench headed by Chairman Justice S J Mukhopadhaya has also asked the Dutch bankruptcy administrator to assist in the insolvency proceedings of Jet Airways which is currently going on in India.) Dutch Bankruptcy administrator on Friday moved the National Company Law Appellate Tribunal (NCLAT) on the Jet Airways matter, which has agreed to hear the case. A three-member NCLAT bench headed by Chairman Justice S J Mukhopadhaya has also asked the Dutch bankruptcy administrator to assist in the insolvency proceedings of Jet Airways which is currently going on in India. Furthermore, the Dutch insolvency court administrator has agreed before the Tribunal to not sell the confiscated assets of the debt-ridden carrier. It may be noted that NCLAT has also issued a notice to the consortium of Jet Airways’ lenders, directing them to file their reply within a period of two weeks. The Tribunal has further directed to list the matter on August 21, 2019, for the next hearing. Earlier, the National Company Law Tribunal (NCLT), Mumbai, had rejected the appeal of Dutch insolvency administrator to recognize their proceedings. Continue reading (https://www.businesstoday.in/sectors/aviation/jet-airways-case-dutch-insolvency-administrator-moves-nclat/story/363786.html) ** CA Vishal Sharma join as a new partner of AAA Insolvency Professionals LLP ———————————————————— FCA, Licentiate ICSI Insolvency Professional Regn.No .IBBI/IPA-001/IP-P00264/2017-18/10508 Designated partner, Kolkata (https://insolvencyandbankruptcy.in/directory/kolkata-office/) Total-experience: 23 Years Core Competence & Industry specific experience Banking – Concurrent Audit, Statutory Audit, Accounts Audit and Taxation, Direct and Indirect Taxation, Audit under SOX. Industry Sectors: Plywood, Power Transmission, Jute and Real Estate Industries. Experience in restructuring & handling of Stressed Assets Loan applications for clients including applications for rescheduling and restructuring of loans. Working Capital management for clients under financial stress. Continue reading (https://insolvencyandbankruptcy.in/people/ca-vishal-sharma/) ** CA Suresh Kannan joins as a new partner of AAA Insolvency Professionals LLP ———————————————————— B.Com. CWA & FCA Insolvency Professional Regn.No IBBI/IPA-001/IP-P01434/2018-2019/12277 Designated Partner, Bengaluru (https://insolvencyandbankruptcy.in/directory/bengaluru/) Total-experience: 21 +Years Core Competence & Industry specific experience Played a stellar role in setting up more than 100 companies including Foreign Companies and managing their finance function Industry Sectors: Construction, Textile, Manufacturing, Embedded technology, Hospitality services, IT/ITES, Project Management, Real Estate, Stone Industry, Trading, Translation Services and Engineering Services. Experience under IBC Have been handling 5-6 companies under CIRP as a consultant for Corporate Debtors. Partner of AAA Insolvency Professionals LLP, largest IPE in the country and assisting other partners in CIRP and Liquidation cases. AAAIP is presently working on more than 46 live CIRP cases. PS: If you like our weekly newsletter, Please forward this to your Friends and Colleagues!! http://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fmailchi.mp%2Faaainsolvency.com%2Fibc-208213 Share (http://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fmailchi.mp%2Faaainsolvency.com%2Fibc-208213) http://twitter.com/intent/tweet?text=Insolvency+and+Bankruptcy+News+-+AAA+Insolvency+Professionals: https%3A%2F%2Fmailchi.mp%2Faaainsolvency.com%2Fibc-208213 Tweet (http://twitter.com/intent/tweet?text=Insolvency+and+Bankruptcy+News+-+AAA+Insolvency+Professionals: https%3A%2F%2Fmailchi.mp%2Faaainsolvency.com%2Fibc-208213) http://us20.forward-to-friend.com/forward?u=9aaeca745f2d1d45c4eeb7a47&id=eec0c977c6&e=2da00e8643 Forward (http://us20.forward-to-friend.com/forward?u=9aaeca745f2d1d45c4eeb7a47&id=eec0c977c6&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=eec0c977c6) .

Insolvency and Bankruptcy News – AAA Insolvency Professionals

FacebookStumbleUponGoogle+TwitterEmail

View this email in your browser (https://mailchi.mp/aaainsolvency.com/ibc?e=2da00e8643) ** ———————————————————— * NCLT Mumbai asked to pass an order on insolvency against Videocon companies in 3 weeks (#NCLTmumbai) * NCLAT approves ArcelorMittal’s bid with modifications (#NCLTApproves) * Justice Mukhopadhaya at NCLAT: Steering the major cases (#Justice) * PNB reports over ₹3800 crore fraud by Bhushan Power & Steel (#Bhushanpower) * Mr. Pankaj Kr Tibrewal joins as a new partner of AAA Insolvency Professionals LLP (#Pankajkumar) * Appointment of CA Jigar Shah as IRP of Harneshwar Agro Products Power & Yeast (India) Limited (#JigarShah) 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. ** NCLT Mumbai asked to pass an order on Insolvency against Videocon comapanies in 3 weeks ———————————————————— The National Company Law Appellate Tribunal (NCLAT) has directed the Mumbai bench of the NCLT to pass an order over the insolvency plea against 15 Videocon group companies within the next three weeks. The NCLAT said that taking into consideration the nature of the matter, the National Company Law Tribunal (NCLT) Mumbai should pass an order within three weeks over the insolvency plea filed by banks. The NCLAT order came over the plea filed by the lenders, led by SBI and the Resolution Professional of the company. The lenders had pleaded that the NCLT was yet to pronounce its judgment even as it reserved an order after the completion of arguments in January 2019. Continue reading (https://www.livemint.com/companies/news/nclt-mumbai-asked-to-pass-order-on-insolvency-against-videocon-cos-in-3-weeks-1562501049527.html) ** NCLAT approves ArcelorMittal’s bid with modifications ———————————————————— The National Company Law Appellate Tribunal (NCLAT) on Thursday approved the resolution plan submitted by Lakshmi Mittal-led ArcelorMittal for Essar Steel India, but with modifications. Of the Rs 42,000-crore plan submitted by ArcelorMittal, the financial creditors would now get about Rs 30,030 crore while the operational creditors would get Rs 12,000 crore, the NCLAT said, holding both the classes of creditors would get 60.7 percent of their admitted claims. A two-member Bench of the appellate tribunal headed by Chairperson Justice S J Mukhopadhaya also reprimanded the committee of creditors (CoC) for discriminating against the operational creditors and other financial creditors such as Standard Chartered Bank (StanChart). The CoC, the NCLAT said, had not been empowered to decide the manner in which the distribution was to be made between one and the other creditor. Continue reading (https://www.business-standard.com/article/companies/nclat-approves-arcelormittal-bid-for-essar-steel-119070400527_1.html) ** Justice Mukhopadhaya at NCLT: Steering the major cases ———————————————————— New Delhi, July 7 Since the inception of the Insolvency and Bankruptcy Code (IBC) and the National Company Law Appellate Tribunal (NCLAT) in 2016, NCLAT Chairman Justice Sudhansu Jyoti Mukhopadhaya has presided over the majority of insolvency resolution cases, and more importantly, has been presiding over all the significant ones. Known for being tough against actions which delay the resolution process, Justice Mukhopadhaya has time and again reiterated his stand that operational and financial creditors should be treated with fairness. An example of his quest for just an early resolution of cases is the NCLAT”s latest directive in the Jaypee Infratech (JIL) matter, whereby the bench headed by the Chairman directed the major lender IDBI Bank and NBCC, the bidder of the stressed asset, to resolve the issues among themselves. The JIL’s Committee of Creditors had rejected the state-run NBCC’s bid on the ground that it was conditional. The bank’s voted against the bid although home buyers were in its favor. Continue reading (https://www.outlookindia.com/newsscroll/justice-mukhopadhaya-at-nclat-steering-the-major-cases/1570196) ** PNB reports over ₹3800 crore fraud by Bhushan Power & Steel ———————————————————— Punjab National Bank on Saturday said it has detected a fraud of ₹3,805.15 crore by Bhushan Power & Steel Ltd and has reported it to the Reserve Bank of India. The exposure of ₹3,800 crore includes domestic exposure of₹3,191 crore, overseas exposure of $49.71 million at the bank’s Dubai branch and $38.51 million at its Hong Kong branch. PNB said the company misappropriated bank funds and manipulated books to raise funds from consortium lenders. “On the basis of Forensic Audit Investigation findings and the CBI filing an FIR on a suo moto basis, against the company and its directors, alleging diversion of funds from the banking system, a fraud of ₹3,805.15 core is being reported by the bank to the RBI,” the bank said. Continue reading (https://www.livemint.com/industry/banking/pnb-reports-over-rs-3800-crore-fraud-by-bhushan-power-steel-1562423846091.html) ** Mr. Pankaj Kr Tibrewal joins as a new partner of AAA Insolvency Professionals LLP ———————————————————— AAAIP which is the largest Insolvency Professional Entity (IPE) in India has appointed Mr. Pankaj Kr. Tibrewal as a designated partner. It is learned that Mr. Pankaj who holds a B. Com (H) along with certifications like FCA and ACS, is a Certified GST expert from ICAI. Mr. Pankaj holds an overall experience of 20 years and was designated as Key Management Personnel (KMP) in his last three organizations. His other key areas of expertise include Implementing and Building Standard Operating Procedures (SOPs), Revenue Assurance, Pilferage Control, Risk Management, Banking Relationship, Fund Management, Cost Control and Rationalization, Legal & Taxation, Negotiation, and Validation, Identification, and Finalisation of properties for marketing stores. Mr Pankaj Kr. Tibrewal who is an expert in handling stressed assets will be part of an organization that has the reputation of handling complex projects time and again to successful completion. AAAIP was founded on 20/12/2016. On 01/03/2017, the Insolvency and Bankruptcy Board of India (IBBI) recognized it as an Institute of Public Enterprise (IPE) with its Head Office at New Delhi. Continue reading (https://insolvencyandbankruptcy.in/pankaj-kr-tibrewal-join-aaa-insolvency-professionals-llp/) ** Appointment of CA Jigar Shah as IRP of Harneshwar Agro Products Power & Yeast (India) Limited ———————————————————— AAA Insolvency Professionals LLP (AAAIP) is pleased to announce that the appointment of CA Jigar Shah as Interim Resolution Professional of Harneshwar Agro Products Power & Yeast (India) Limited, by NCLT, Mumbai Bench, order dated. 26/06/2019 (Copy of Order received on 08.07.2019). The Corporate Debtor is engaged in the manufacturing of Jaggery (Chemical Free), Fuel Grade Ethanol, Bio – Compost, CNG Furnace/BioFuel Oil, Bio Fertilizers, CO2 and Sulpher. CA Jigar Shah is a designated partner (https://insolvencyandbankruptcy.in/people/ca-jigar-shah/) of AAA Insolvency Professionals LLP (“AAAIP”). AAAIP has evolved to become the largest Insolvency Professional Entity (IPE) of India having reputed partners spread across the country. About CA Jigar Shah CA Jigar Shah is a Chartered Accountant, Insolvency Professional and Registered Valuer. He has mixed experience of about 16 years working in Banking Industry, Business Valuation, Credit Sanctioning & Monitoring; Debt Syndication; Private Equity; Debt Restructuring; Internal Audit, Merchant Banking, Merger & Acquisition. He has been appointed as IRP in few cases each by Dena Bank and SASF of IDBI Bank and assisting other partners in CIRP and Liquidation cases. Continue reading (https://insolvencyandbankruptcy.in/appointment-of-jigar-shah-as-irp-of-harneshwar-agro-products-power-yeast-india-limited/) If you like our Weekly Newsletter, please do forward it to your friend’s and colleagues. Thanks & Regards AAA Insolvency Professionals LLP (India’s Largest Insolvency Professionals Entity) Other Offices (https://insolvencyandbankruptcy.us20.list-manage.com/track/click?u=9aaeca745f2d1d45c4eeb7a47&id=7ee8277606&e=46b084c9e8) : Mumbai I Kolkata I Raipur I Chennai I Hyderabad I Kochi | Ahmedabad | Ludhiana | Bengaluru | Ranchi I Nagpur ============================================================ ** Facebook (http://www.facebook.com) ** Twitter (http://www.twitter.com/) ** Google Plus (http://plus.google.com.com/) 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=c82b27feee) .

Your weekly insolvency and bankruptcy NEWS!!

FacebookStumbleUponGoogle+TwitterEmail

View this email in your browser (https://mailchi.mp/b2b36ca2d6f5/your-weekly-insolvency-and-bankruptcy-news-197061?e=2da00e8643) ** ———————————————————— ** AAA Insolvency Professionals LLP (India’s largest insolvency professionals entity) ———————————————————— Key highlights on IBC, 2016 1. Telecom department rejects Aircel’s resolution proposal 2. Jet Airways crisis: Hindujas likely to bid for grounded airline in a week 3. NCLAT directs NCLT Allahabad bench to decide insolvency plea against JP Associates in 6 weeks 4. Introduction of CA Anil Kumar Khicha as a new partner of AAA Insolvency Professionals LLP 5. Introduction of CA. Pankaj Kr. Tibrewal as a new partner of AAA Insolvency Professionals LLP 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. Here is this week’s Top Insolvency News! Telecom department rejects Aircel’s resolution proposal The Department of Telecommunications (DoT) has rejected the resolution proposal cleared by bankrupt telco Aircel’s lenders under which Rs 16.50 crore was earmarked for all operational creditors, including the government, saying it was insufficient to cover for its license and spectrum-related dues. “As per their plan (that of resolution professional), a sum of Rs 16.50 crore has been earmarked for all operational creditors. There is no specific provision for the DoT,” continue reading (https://economictimes.indiatimes.com/industry/telecom/telecom-news/telecom-department-rejects-aircels-resolution-proposal/articleshow/70023027.cms) Jet Airways crisis: Hindujas likely to bid for the grounded airline in a week Lenders, including IDBI Bank and Punjab National Bank, reportedly have outstanding debt worth Rs 8,000 crore from Jet Airways, while dues with operational creditors are much larger. The Hinduja group is likely to put a formal bid for crisis-ridden Jet Airways as early as this week, sources said. Ongoing discussions between the Hinduja group, Etihad Airways, and lenders to Jet Airways gathered steam after June 20, when the National Company Law Tribunal (NCLT) had passed an order, initiating insolvency proceedings against the grounded airline. “Discussions have been fast-tracked with the insolvency plea being filed. We had been working with an internal deadline of mid-July to finalize the details, but a formal bid could be submitted to the interim resolution professional this week itself continue reading (https://www.financialexpress.com/industry/jet-airways-crisis-hindujas-likely-to-bid-for-grounded-airline-in-a-week/1625326/) NCLAT directs NCLT Allahabad bench to decide insolvency plea against JP Associates in 6 weeks The NCLAT on Monday directed the National Company Law Tribunal to decide the insolvency plea filed by ICICI Bank against Jaiprakash Associates in six weeks. The private sector lender had approached the National Company Law Appellate Tribunal (NCLAT), seeking a direction to NCLT Allahabad-bench to expedite the hearing on its insolvency petition against Jaypee Group firm Jaiprakash Associates Ltd (JAL). Hearing the matter, a three-judge bench of the NCLAT headed by Chairman Justice S J Mukhopadhyaya directed the NCLT Allahabad to decide on admitting the plea preferably in six weeks. continue reading (https://www.firstpost.com/business/nclat-directs-nclt-allahabad-bench-to-decide-insolvency-plea-against-jp-associates-in-6-weeks-6913241.html) Introduction of CA Anil Kumar Khicha as a new partner of AAA Insolvency Professionals LLP About CA Anil Khicha B.Com, FCA Insolvency Professional Regn .No .IBBI/IPA-001/IP-P00422/2017-18/10745 Designated Partner, Chennai Total experience : 30 Years CA Anil Khicha is appointed Chennai (https://insolvencyandbankruptcy.in/directory/chennai-office/) based partner of AAA Insolvency Professionals LLP (“AAAIP”) Core Competence & Industry specific experience Audit, accounting, bank audits, debt syndication, a corporate consultancy. Industry Sectors: Steel Industry, Real Estate/Builders, Trading Business and NBFCs. Experience in restructuring & handling of Stressed Assets. Structuring & Restructuring of debts finance with banks in more than 40 assignments. Experience under IBC 3 cases filed with NCLT on behalf of operational creditors-2 at Chennai & 1 at Guwahati. continue reading (https://insolvencyandbankruptcy.in/people/ca-anil-kumar-khicha/) Introduction of CA. Pankaj Kr. Tibrewal as a new partner of AAA Insolvency Professionals LLPAbout CA Pankaj Kr. Tiberwal B.Com (H), FCA, ACS, Certified GST expert from ICAI Insolvency Professional Regn.No. IBBI/IPA-001/IP-P-01577/2018-2019/12410 Designated Partner, Kolkata Total experience: 20 Years CA Pankaj Kr. Tiberwal is appointed Kolkata (https://insolvencyandbankruptcy.in/directory/kolkata-office/) based partner of AAA Insolvency Professionals LLP (“AAAIP”) Core Competence & Industry specific experience Accounts & Commercial heading function, designated as KMP in last 3 organizations. Certified GST expert, Building and Implementing SOP’s, Revenue Assurance, Risk Management, Pilferage control, Fund management, Banking relationship, Cost control and rationalization, Negotiation, Legal & Taxation. Identification, validation, and finalization of properties for retail stores. Experience in restructuring & handling of Stressed Assets Mr. Pankaj is the Part of the team and supporting CFO for the restructuring and handling the stressed Assets. Continue reading (https://insolvencyandbankruptcy.in/directory/kolkata-office/) If you like our Weekly Newsletter, please do forward it to your friend’sand colleagues. Thanks & Regards Rohit AAA Insolvency Professionals LLP (India’s Largest Insolvency Professionals Entity) Mob: +918506801082 Phone: 011-4666 4651 Other Offices (https://insolvencyandbankruptcy.in/directory/head-office-delhi/) : Mumbai I Kolkata I Raipur I Chennai I Hyderabad I Kochi | Ahmedabad | Ludhiana | Bengaluru | Ranchi I Nagpur ============================================================ ** Share (http://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fmailchi.mp%2Fb2b36ca2d6f5%2Fyour-weekly-insolvency-and-bankruptcy-news-197061) ** Share (http://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fmailchi.mp%2Fb2b36ca2d6f5%2Fyour-weekly-insolvency-and-bankruptcy-news-197061) ** Tweet (http://twitter.com/intent/tweet?text=Your+weekly+insolvency+and+bankruptcy+NEWS%21%21: https%3A%2F%2Fmailchi.mp%2Fb2b36ca2d6f5%2Fyour-weekly-insolvency-and-bankruptcy-news-197061) ** Tweet (http://twitter.com/intent/tweet?text=Your+weekly+insolvency+and+bankruptcy+NEWS%21%21: https%3A%2F%2Fmailchi.mp%2Fb2b36ca2d6f5%2Fyour-weekly-insolvency-and-bankruptcy-news-197061) ** Forward (http://us20.forward-to-friend.com/forward?u=9aaeca745f2d1d45c4eeb7a47&id=2f22c88968&e=2da00e8643) ** Forward (http://us20.forward-to-friend.com/forward?u=9aaeca745f2d1d45c4eeb7a47&id=2f22c88968&e=2da00e8643) ** Facebook (https://www.facebook.com/anil.goel.7587) ** Twitter (http://www.twitter.com/anilgoelca) ** LinkedIn (https://www.linkedin.com/in/ca-anil-goel-aaa-insolvency/) ** Website (https://insolvencyandbankruptcy.in) Copyright © 2019 AAA Insolvency Professionals LLP, All rights reserved. (The largest Insolvency Professionals Entity of India) Our mailing address is: E-10 A Kailash Colony New Delhi – 110048 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=2f22c88968) .

Debt Recovery Solution – AAA Insolvency Professionals!!!

FacebookStumbleUponGoogle+TwitterEmail

View this email in your browser (https://mailchi.mp/76883f13c86f/debt-recovery-solution-aaa-insolvency-professionals?e=2da00e8643) ** ———————————————————— Dear Sir, I write on behalf of AAA Insolvency Professionals LLP, an Insolvency Professional Entity (IPE) registered with the Insolvency and Bankruptcy Board of India (IBBI) under the Insolvency & Bankruptcy Code, 2016 (IBC). We are the largest such IPE in the country and have been dealing solely with cases under the IBC since the Code was enacted. We currently have more than 34 partners (https://insolvencyandbankruptcy.in/people/) in 14 offices all over the country with a staff strength of more than 250 who are capable of handling cases of any magnitude under IBC or Sarfaesi. IBC has given the status of an ‘operational creditor’ to any supplier of goods or services whose debt remains unpaid. Using said status, an operational creditor can file an application under the IBC for initiation of insolvency proceedings against any such debtor, which would essentially mean the losing control and custody of their business to the creditors of the company through a Resolution Professional, like us. Such proceedings generally result in quick payment to the creditors of the company, either through settlement or the sale of the company as a going concern to another person or through its liquidation. Either way, the operational creditors are most benefitted through the settlement of debt by the Companies else the Company will perish and promoters will lose the company. At times, the threat alone results in immediate settlement of dues by the debtor. We understand your firm is providing consultancy/auditing services to several of the entities/companies in India, we understand how bad debts may be affecting the financial status of these companies and would like to propose our services in the recovery of such debt for any entity under your purview. We would like to have a call with you to discuss how your clients can benefit from this revolutionary law. We also urge you to give us the names of such entities which might require our help in order to enable us to speak to the respective proprietors/ partners/ directors of the same at our end as well. In furtherance to the above proposal, we would love to discuss our business further, along with our potential assistance in the recovery of your debts. Looking forward to your reply. Thanks & Regards Rohit Mob: +918506801082 Phone: 011-4666 4651 Other Offices (https://insolvencyandbankruptcy.in/directory/head-office-delhi/) : Mumbai I Kolkata I Raipur I Chennai I Hyderabad I Kochi | Ahmedabad | Ludhiana | Bengaluru | Ranchi I Nagpur ============================================================ ** Share (http://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fmailchi.mp%2F76883f13c86f%2Fdebt-recovery-solution-aaa-insolvency-professionals) ** Share (http://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fmailchi.mp%2F76883f13c86f%2Fdebt-recovery-solution-aaa-insolvency-professionals) ** Tweet (http://twitter.com/intent/tweet?text=Debt+Recovery+Solution+-+AAA+Insolvency+Professionals%21%21%21: https%3A%2F%2Fmailchi.mp%2F76883f13c86f%2Fdebt-recovery-solution-aaa-insolvency-professionals) ** Tweet (http://twitter.com/intent/tweet?text=Debt+Recovery+Solution+-+AAA+Insolvency+Professionals%21%21%21: https%3A%2F%2Fmailchi.mp%2F76883f13c86f%2Fdebt-recovery-solution-aaa-insolvency-professionals) ** Forward (http://us20.forward-to-friend.com/forward?u=9aaeca745f2d1d45c4eeb7a47&id=f59f9c2e85&e=2da00e8643) ** Forward (http://us20.forward-to-friend.com/forward?u=9aaeca745f2d1d45c4eeb7a47&id=f59f9c2e85&e=2da00e8643) ** Facebook (http://www.facebook.com) ** Twitter (http://www.twitter.com/) ** LinkedIn (https://www.linkedin.com/in/ca-anil-goel-aaa-insolvency/) ** Website (https://insolvencyandbankruptcy.in) 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=f59f9c2e85) .

Delivery Status Notification (Failure)

FacebookStumbleUponGoogle+TwitterEmail

[image: 48HoursLogo.png] CLICK HERE

Delivery Status Notification (Failure)

FacebookStumbleUponGoogle+TwitterEmail

[image: 48HoursLogo.png] Create A FREE Logo in Less Than 5 Minutes without Photoshop! [UPDATE] This video will show you how to create a FREE LOGO without Photoshop using > a free website called LogoMaker. I used to go to 48hourslogo.com > and pay someone $5 … READ MORE

logo design for only $29

FacebookStumbleUponGoogle+TwitterEmail

Get Amazing custom logo designs for your business in just 48 Hours! Start an online logo design contest for only $29 and watch designer logos roll in the same day! [image: 48HoursLogo.png] CLICK HERE

Social Media Marketing Strategy

FacebookStumbleUponGoogle+TwitterEmail

Our custom content management system gives you the power to curate, update and refine your website’s content in real time. Get low cost website design services with add-on benefits. Contact us with your requirement. Thanks Veera

Hello

FacebookStumbleUponGoogle+TwitterEmail

Good day Wilton, I want to use this medium to propose an exportation contract to you .Revert if interested for more information. Kind Regards, Rick Johnston

Job Offer

FacebookStumbleUponGoogle+TwitterEmail

Hello Wilton, We are currently seeking for certified business expatriate to represent our firm in your region,attached to a bogus salary and commission benefit. kindly Revert if interested for more details. Note: The job will only take few minutes of your time daily,so you can Earn Extra dollar while doing your normal job/Business. Regards, Sam Hong, International Recruitment Consultant. Simcere Pharmaceutical Group.

Improvements to our Privacy Policy and Privacy Controls

FacebookStumbleUponGoogle+TwitterEmail

radiosangharsh@gmail.com This month, we’re updating our Privacy Policy to make it easier for you to understand what information we collect and why we collect it. We’ve also taken steps to improve our Privacy Checkup and other controls we provide to safeguard your data and protect your privacy. Nothing is changing about your current settings or how your information is processed. Rather, we’ve improved the way we describe our practices and how we explain the options you have to update, manage, export, and delete your data. We’re making these updates as new data protection regulations come into effect in the European Union, and we’re taking the opportunity to make improvements for Google users around the world. Making our Privacy Policy easier to understand Simpler structure & clearer language We’ve improved the navigation and organization of the policy to make it easier to find what you’re looking for. We’ve also explained our practices in more detail and with clearer language. New descriptive videos & illustrations Often a visual description is easier to understand than text alone, so we’ve added short videos and illustrations throughout the policy. Embedded privacy controls We’ve made it easier to jump to key settings directly from the policy, helping you make choices about your privacy. The revised policy is available here and will take effect on May 25, 2018. Improving your privacy controls Within the past year, we updated My Activity so that you can better access and manage the data in your Google Account. We also launched a redesigned Dashboard , which allows you to easily see an overview of products you’re using and your data associated with them. This month, we’ve updated our Privacy Checkup with new illustrations and examples to help you make more informed choices about your key privacy controls. And since we understand that your preferences may change over time, the new Privacy Checkup enables you to sign up for regular reminders to check your privacy settings. To learn more about these and other controls to manage your privacy, visit your Google Account . (c) 2018 Google LLC, 1600 Amphitheatre Parkway, Mountain View, CA 94043 This email was sent to radiosangharsh@gmail.com to provide an update about your Google Account.

Best website design offer anywhere! 

FacebookStumbleUponGoogle+TwitterEmail

Greetings, I am Oni Segun, i am a freelance website developer and writer, i work with Asuqu.com – registered as Asuqu Marketplace Limited. I am designing a standard business website for just N30,000. The amount quoted covers domain name registration, web. hosting, web. security, website maintenance for a year, and a FREE logo design option just incase you do not have one. Should you have any question, kindly reply this mail, or chat with me on WhatsApp. I love to hear from you. Kind regards, Oni Segun Contact: Whatsapp – 08066713661 Skype: oniayomideji@gmail.com ============================================================ ** (https://asuqu.us18.list-manage.com/track/click?u=bb55842a3374f8f2dad3ce370&id=4184ad35a5&e=a7a66088a6) ** Facebook (https://asuqu.us18.list-manage.com/track/click?u=bb55842a3374f8f2dad3ce370&id=e2a478d71c&e=a7a66088a6) ** (https://asuqu.us18.list-manage.com/track/click?u=bb55842a3374f8f2dad3ce370&id=53b3ed8bb3&e=a7a66088a6) ** Twitter (https://asuqu.us18.list-manage.com/track/click?u=bb55842a3374f8f2dad3ce370&id=be2f513c3a&e=a7a66088a6) Copyright © 2018 asuqu, All rights reserved. Email directory Our mailing address is: asuqu 371 Borno Way Alagomeji Yaba Lagos Lagos 23401 Nigeria Want to change how you receive these emails? You can ** update your preferences (https://asuqu.us18.list-manage.com/profile?u=bb55842a3374f8f2dad3ce370&id=f93e2a3ee9&e=a7a66088a6) or ** unsubscribe from this list (https://asuqu.us18.list-manage.com/unsubscribe?u=bb55842a3374f8f2dad3ce370&id=f93e2a3ee9&e=a7a66088a6&c=64bf6c5dec) . Email Marketing Powered by MailChimp http://www.mailchimp.com/monkey-rewards/?utm_source=freemium_newsletter&utm_medium=email&utm_campaign=monkey_rewards&aid=bb55842a3374f8f2dad3ce370&afl=1

The Best Phone Mobile security virus protection !!

FacebookStumbleUponGoogle+TwitterEmail

The best apps and games for your Phone Mobile security virus protection !! Get The Best Mobile Security Now Special Services Offers… Enter your mobile number now to start downloading….. Just Click Here >> http://www.universalservices.latestentertainment24.com Just Click Here >> http://www.universalservices.latestentertainment24.com

The Best Phone Mobile security virus protection !!

FacebookStumbleUponGoogle+TwitterEmail

The best apps and games for your Phone Mobile security virus protection !! Get The Best Mobile Security Now Special Services Offers… Enter your mobile number now to start downloading….. Just Click Here >> http://www.universalservices.latestentertainment24.com Just Click Here >> http://www.universalservices.latestentertainment24.com

Alain, a new email address was added to your account

FacebookStumbleUponGoogle+TwitterEmail

Hi Alain, The email address radiosangharsh@gmail.com was recently added to your LinkedIn account. If you don't want that email associated with your account after all, here's how to remove it: Type https://www.linkedin.com/e/v2?e=2kktp-jaiiaw7o-bj&lipi=urn%3Ali%3Apage%3Aemail_security_add_email_notification%3BQuHjc4OHTx%2Bu2SPBMLsoEw%3D%3D&t=nas&midToken=AQFnuF7q7i3FmQ&ek=security_add_email_notification into your browser Sign in with your email address and password Find Primary email in the upper left and click Change/Add Click Remove next to the email address you're removing. Thanks for using LinkedIn and for helping us to keep your account secure. The LinkedIn Team © 2017 LinkedIn Ireland Unlimited Company. LinkedIn, the LinkedIn logo, and InMail are registered trademarks of LinkedIn Corporation in the United States and/or other countries. All rights reserved. This email was intended for Alain Moury (COMMERCIAL MANAGER, BUSINESS ADMINISTRATION, EXPORT SALES SPECIALIST). Learn why we included this: https://www.linkedin.com/e/v2?e=2kktp-jaiiaw7o-bj&lipi=urn%3Ali%3Apage%3Aemail_security_add_email_notification%3BQuHjc4OHTx%2Bu2SPBMLsoEw%3D%3D&a=customerServiceUrl&midToken=AQFnuF7q7i3FmQ&ek=security_add_email_notification&articleId=4788 If you need assistance or have questions, please contact LinkedIn Customer Service: https://www.linkedin.com/e/v2?e=2kktp-jaiiaw7o-bj&lipi=urn%3Ali%3Apage%3Aemail_security_add_email_notification%3BQuHjc4OHTx%2Bu2SPBMLsoEw%3D%3D&a=customerServiceUrl&midToken=AQFnuF7q7i3FmQ&ek=security_add_email_notification LinkedIn is a registered business name of LinkedIn Ireland Unlimited Company. Registered in Ireland as a private unlimited company, Company Number 477441 Registered Office: Wilton Plaza, Wilton Place, Dublin 2, Ireland

Chinasa Nwinya’s invitation is awaiting your response

FacebookStumbleUponGoogle+TwitterEmail

Hi , Chinasa Nwinya would like to connect on LinkedIn. How would you like to respond? Accept: https://www.linkedin.com/comm/start/accept-invitation?sharedKey=cmNszUv7&invitationId=6333420656855642177&trk=eml-second_guest_reminder_01-hero-147-accept_text&trkEmail=eml-second_guest_reminder_01-hero-147-accept_text-null-%7Eipik9v%7Eja88c3hd%7Efk-ssuw-start%7Esignup%7Ewarm&lipi=urn%3Ali%3Apage%3Aemail_second_guest_reminder_01%3BaCiWobwISD%2BGqzRDxKLz3g%3D%3D View Chinasa Nwinya’s profile: https://www.linkedin.com/comm/start/accept-invitation?sharedKey=cmNszUv7&invitationId=6333420656855642177&trk=eml-second_guest_reminder_01-hero-3-profile_text&trkEmail=eml-second_guest_reminder_01-hero-3-profile_text-null-%7Eipik9v%7Eja88c3hd%7Efk-ssuw-start%7Esignup%7Ewarm&lipi=urn%3Ali%3Apage%3Aemail_second_guest_reminder_01%3BaCiWobwISD%2BGqzRDxKLz3g%3D%3D You received an invitation to connect. LinkedIn will use your email address to make suggestions to our members in features like People You May Know. Unsubscribe here: https://www.linkedin.com/e/v2?e=-ipik9v-ja88c3hd-fk&t=lun&midToken=AQFmrFVhGEd36Q&ek=second_guest_reminder_01&li=149&m=unsub&ts=HTML&eid=-ipik9v-ja88c3hd-fk&loid=AQHfQGll3ezghAAAAV_aaDlzcMDWkDBP9KLU9EbnDWkyIQWAG2Vd9M4g30gm-DklnjQfnwGg0YjRpcUP2xwqKWXHuXrhxrGyEQFILHcX5LOrMQo This email was sent to radiosangharsh@gmail.com. If you need assistance or have questions, please contact LinkedIn Customer Service: https://www.linkedin.com/e/v2?e=-ipik9v-ja88c3hd-fk&lipi=urn%3Ali%3Apage%3Aemail_second_guest_reminder_01%3BaCiWobwISD%2BGqzRDxKLz3g%3D%3D&a=customerServiceUrl&ek=second_guest_reminder_01 © 2017 LinkedIn Corporation, 1000 West Maude Avenue, Sunnyvale, CA 94085. LinkedIn and the LinkedIn logo are registered trademarks of LinkedIn.

Chinasa Nwinya’s invitation is awaiting your response

FacebookStumbleUponGoogle+TwitterEmail

Chinasa Nwinya would like to connect on LinkedIn. How would you like to respond? Accept: https://www.linkedin.com/comm/start/accept-invitation?sharedKey=cmNszUv7&invitationId=6333420656855642177&trk=eml-first_guest_reminder_01-hero-148-accept_text&trkEmail=eml-first_guest_reminder_01-hero-148-accept_text-null-%7Eipik9v%7Ej9y8b39u%7Elh-ssuw-start%7Esignup%7Ewarm&lipi=urn%3Ali%3Apage%3Aemail_first_guest_reminder_01%3Bs8wDtQHjRcGAt0zchdzW0A%3D%3D View Chinasa Nwinya’s profile: https://www.linkedin.com/comm/start/accept-invitation?sharedKey=cmNszUv7&invitationId=6333420656855642177&trk=eml-first_guest_reminder_01-hero-3-profile_text&trkEmail=eml-first_guest_reminder_01-hero-3-profile_text-null-%7Eipik9v%7Ej9y8b39u%7Elh-ssuw-start%7Esignup%7Ewarm&lipi=urn%3Ali%3Apage%3Aemail_first_guest_reminder_01%3Bs8wDtQHjRcGAt0zchdzW0A%3D%3D You received an invitation to connect. LinkedIn will use your email address to make suggestions to our members in features like People You May Know. Unsubscribe here: https://www.linkedin.com/e/v2?e=-ipik9v-j9y8b39u-lh&t=lun&midToken=AQFmrFVhGEd36Q&ek=first_guest_reminder_01&li=150&m=unsub&ts=HTML&eid=-ipik9v-j9y8b39u-lh&loid=AQHfyVGcRDygJAAAAV-2VjH87prERKmLFHDzUjMYfJZ1Xj6H4F1AmgCbuJNrRkdhQcHgB2dnm2_NCnvCho4DlYGwVmdnX6L-kTF9qTTw5A4OXzg This email was sent to radiosangharsh@gmail.com. If you need assistance or have questions, please contact LinkedIn Customer Service: https://www.linkedin.com/e/v2?e=-ipik9v-j9y8b39u-lh&lipi=urn%3Ali%3Apage%3Aemail_first_guest_reminder_01%3Bs8wDtQHjRcGAt0zchdzW0A%3D%3D&a=customerServiceUrl&ek=first_guest_reminder_01 © 2017 LinkedIn Corporation, 1000 West Maude Avenue, Sunnyvale, CA 94085. LinkedIn and the LinkedIn logo are registered trademarks of LinkedIn.

Chinasa Nwinya’s invitation is awaiting your response

FacebookStumbleUponGoogle+TwitterEmail

Chinasa Nwinya would like to connect on LinkedIn. How would you like to respond? Accept: https://www.linkedin.com/comm/start/accept-invitation?sharedKey=cmNszUv7&invitationId=6333420656855642177&trk=eml-first_guest_reminder_01-hero-148-accept_text&trkEmail=eml-first_guest_reminder_01-hero-148-accept_text-null-%7Eipik9v%7Ej9y8b39u%7Elh-ssuw-start%7Esignup%7Ewarm&lipi=urn%3Ali%3Apage%3Aemail_first_guest_reminder_01%3Bs8wDtQHjRcGAt0zchdzW0A%3D%3D View Chinasa Nwinya’s profile: https://www.linkedin.com/comm/start/accept-invitation?sharedKey=cmNszUv7&invitationId=6333420656855642177&trk=eml-first_guest_reminder_01-hero-3-profile_text&trkEmail=eml-first_guest_reminder_01-hero-3-profile_text-null-%7Eipik9v%7Ej9y8b39u%7Elh-ssuw-start%7Esignup%7Ewarm&lipi=urn%3Ali%3Apage%3Aemail_first_guest_reminder_01%3Bs8wDtQHjRcGAt0zchdzW0A%3D%3D You received an invitation to connect. LinkedIn will use your email address to make suggestions to our members in features like People You May Know. Unsubscribe here: https://www.linkedin.com/e/v2?e=-ipik9v-j9y8b39u-lh&t=lun&midToken=AQFmrFVhGEd36Q&ek=first_guest_reminder_01&li=150&m=unsub&ts=HTML&eid=-ipik9v-j9y8b39u-lh&loid=AQHfyVGcRDygJAAAAV-2VjH87prERKmLFHDzUjMYfJZ1Xj6H4F1AmgCbuJNrRkdhQcHgB2dnm2_NCnvCho4DlYGwVmdnX6L-kTF9qTTw5A4OXzg This email was sent to radiosangharsh@gmail.com. If you need assistance or have questions, please contact LinkedIn Customer Service: https://www.linkedin.com/e/v2?e=-ipik9v-j9y8b39u-lh&lipi=urn%3Ali%3Apage%3Aemail_first_guest_reminder_01%3Bs8wDtQHjRcGAt0zchdzW0A%3D%3D&a=customerServiceUrl&ek=first_guest_reminder_01 © 2017 LinkedIn Corporation, 1000 West Maude Avenue, Sunnyvale, CA 94085. LinkedIn and the LinkedIn logo are registered trademarks of LinkedIn.