JSW’s Man Of Steel
Sajjan Jindal has steered JSW Steel through domestic and global headwinds, increased capacity and acquired new businesses, to turn the company into the country’s largest steelmaker.
Sajjan Jindal has steered JSW Steel through domestic and global headwinds, increased capacity and acquired new businesses, to turn the company into the country’s largest steelmaker.
The recently-amended Insolvency and Bankruptcy Code, 2016, not only insulates buyers from the misdeeds of the former owners, but also sets a threshold for launching corporate insolvency cases.
A ₹3,800 crore fraud will demand more provisioning in the current year, and PNB may require further capital from the government if it needs to grow its business.
British tycoon Sanjeev Gupta has acquired distressed assets across the world and has bid for four bankrupt companies in India. But he finds decision-making in India too slow.
Lenders call for a second round of bids for the bankrupt steel maker even as the 270-day time limit for insolvency resolution under the IBC expires on April 29.
The entire insolvency process under the Insolvency and Bankruptcy Code is under threat. Is it time for another amendment?