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The Latest Breaking News from RP

Byju’s-BCCI settlement remains stalled; NCLT pauses buyer search

Byju's proposed Rs 158-crore settlement with the BCCI remains unresolved. Creditors have met multiple times but could not reach a decision on the matter. The settlement's approval or rejection will determine the continuation of insolvency proceedings. Founders have also challenged GLAS Trust's authority and claim size. The tribunal has paused…

The Economic Times

Gratuity, leave encashment not part of CIRP cost: NCLAT

The NCLAT dismissed an appeal regarding priority payment of gratuity dues. It upheld an earlier NCLT order concerning Duncans Industries' former director. Such dues must be settled according to the company's approved resolution plan. Gratuity is a terminal benefit, not an insolvency resolution process cost. The appellate tribunal found the…

The Economic Times

Winning NASCAR Cup title a "personal confidence booster" for Blaney

Blaney's first title – secured in last November’s season finale at Phoenix – was the second consecutive for Penske and fourth overall. Joey Logano has won two while Brad Keselowski gave Penske his first Cup championship in 2012.

Motorsport

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Creditors approve Adani Power consortium bid to takeover bankrupt Coastal Energen

Adani Power Ltd. consortium approved to buy Coastal Energen Ltd. under CIRP with ₹3,500 crore resolution plan.

The Hindu

Go First CEO Khona exits airline, laments 6-month salary dues

Go First CEO Kaushik Khona announced his exit after airline entered insolvency due to fund crunch blamed on engine failures. Salaries unpaid for six months despite requests. Resolution Professional unable to find bidder. NCLT granted 90-day extension for CIRP, failing which airline will be liquidated. Jindal Power submitted EOI but…

The Hindu

GoFirst can fly leased aircraft, says NCLT

NCLT rejects pleas from 6 aircraft lessors to bar GoFirst from using their aircraft and appoint an inspector. Court maintained that an order refraining the resolution professional from using the aircraft would amount to “corporate death” and that it was the duty of the interim resolution professional to ensure the…

The Hindu

This modern portrait painting trend is unexpected, but necessary

The Royal Society of Portrait Painter's President, Anthony Connolly, reveals what everyone is painting.

Creative Bloq

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NCLAT upheld Adani Power bid for Korba West Power; asks Shapoorji Pallonji & Co to pursue arbitration for claims

NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) has upheld the 2019 Resolution Plan of Adani Power's bid for Korba West Power and has asked Shapoorji Pallonji Co to pursue arbitration proceedings for pending claims.

The Times of India

911 call logs reveal sightings of blood stains, knives and ‘suspicious men’ in town of Idaho student murders

The alarm and disquiet of Moscow residents has made itself known in a flood of reports about ‘suspicious’ noises or people

The Independent UK

Future Retail insolvency: Expression of interest invited from prospective buyers by October 20

NEW DELHI: The resolution professional of Future Retail Ltd (FRL) has invited 'expression of interest' from prospective buyers under the ongoing Corporate Insolvency Resolution Process (CIRP).

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