Contents Page No. Insolvency proceedings have also been initiated at the … Corporate Debtors undergoing Liquidation REI Agro Limited Gujarat Oleo Chem Limited Raman Ispat Private Limited Rotomac Global Private Limited Rotomac Exports Private Limited Vindhya Vasini Industries Limited Loha Ispaat Limited Samtel Color Limited Conros Steels Private Limited VISA Power Limited Andaman Sea Foods Private Limited Rasoya Proteins Limited Vandana Energy & Steel … According to data collated by BloombergQuint, only four out of the 29 stressed accounts in the second list are near resolution. VISA Steel Limited is an India-based mineral, metal and energy company. State Bank of India had referred the company to the Kolkata NCLT … The NCLT had said that Rs 54,389-crore offer by Essar Steel Asia Holding, which is much higher than the ArcelorMittal's Rs 42,000 crore bid, is not maintainable as the only way to make a … Both these companies are among the 12 largest stressed accounts which the … Promoters were originally into trading of steel and steel … +Includes DocuBay and TimesPrime Membership worth ₹1499 & ₹999 resp. The lenders cleared ArcelorMittal’s bid in October last year, which received the NCLT’s nod by March. Bank of Maharashtra filed the application for bankruptcy proceedings against Visa Power, which was admitted before the Kolkata bench of the NCLT in December. Visa Steel Detailed director reports covering Visa Steel Financial Results and Performance report. It was established in 1970. 21-CTB-2019 in TP No. Includes DocuBay and TimesPrime Membership worth ₹1499 & ₹999 resp. For reprint rights: JSW Steel increases Bhushan Power & Steel offer by Rs 400 crore. Banks have decided to refer Asian Color Coated Ispat, Castex Technologies, Coastal Projects, East Coast Energy, IVRCL, Orchid Pharma, SEL Manufacturing, Uttam Galva Metallic, Uttam Galva Steel, Visa Steel, Essar Projects, Jai Balaji Industries, Monnet Power, Nagarjuna Oil Refinery, Ruchi Soya Soya Industries and Wind World India to NCLT for insolvency proceedings. Steel Essar Steel Bidders: Numetal, ArcelorMittal, Vedanta First round bids of Numetal and Arcelor Mittal Bids were rejected. "At some level, there has to be some absolutism between NCLT and NCLAT," he added. Quick Links; Important Links; GST/VAT Links; Ease Of Doing Business; Acts . Bhushan Power & Steel on block over delay at NCLT. 1 Notice of NCLT convened meeting of the Unsecured Creditors of VISA Steel Limited (‘Transferee Company’). Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. In the matter of Visa Steel Limited CA(IB)No. Visa Steel owes its lenders around Rs4,500 crore, according to Poonam Keswani, a lawyer at India Law Llp, which is representing SBI. Explore more on Visa Steel at Dnaindia.com. Banks will also have to make a provision of 50 per … NCLT judicial member Madan B Gosavi, in an order last week, said: “Six weeks’ time is granted to the corporate debtor to get on record a clear order from the Hon’ble High Court of Orissa in respect of the stay to this proceedings,” adding that he “may proceed with the hearing” of the main matter “on its own merit”. Some of the large accounts which are likely to go to the NCLT include Asian Color Coated Ispat, Castex Technologies, Coastal Projects, East Coast Energy, IVRCL, Orchid Pharma, SEL Manufacturing, Uttam Galva Metallic, Uttam Galva Steel, Visa Steel, Essar Projects, Jai Balaji Industries, Monnet Power, Nagarjuna Oil Refinery, Ruchi Soya Industries and Wind World India. The central bank had earlier in August sent out a letter to lenders asking them to either resolve these 28 accounts through any of RBI’s schemes before December 13 or else take the companies under Insolvency and Bankruptcy Code (IBC) at NCLT … Choose your reason below and click on the Report button. Reconstitute the NCLT Ahmedabad Bench order dated 5.3.2018 (,Size: 2.27 MB , Language-) Reconstitute the NCLT Mumbai Benches order dated 5.3.2018 (,Size: 2.39 MB , Language-) Constitution of Special Bench at NCLT While Bhushan Power & Steel dues are to the tune of Rs 2,099 crore, Alok Industries dues are Rs 903 crore. NCLT name Reset Orders Date Subject Orders Remarks 08 Aug, 2019 In the matter of Titan Energy Systems Limited IA No. Operational creditors to Essar Steel and Standard Chartered Bank approached the National Company Law Appellate Tribunal to seek more than what the Committee of Creditor had allocated. About Visa Steel Limited. Let's reshape it today, Hunt for the brightest engineers in India. Operational creditors to Essar Steel … Choose your winners rationally in 3 simple steps! 15 The stay was up to the date of the September hearing, which could not take place. The last hearing in the division bench was supposed to take place at the end of September but the matter could not be heard because of a strike there. Visa Power is a corporate guarantor to Visa Steel. Breather for Visa Steel The National Company Law Tribunal has granted six weeks to the promoters of Visa Steel to save the company from slipping into insolvency.NCLT Calcutta asked Visa Steel to get … No. VISA STEEL LTD.has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 30/06/2020 ,inter alia, to consider and approve This is in continuation to our … 87-CTB-2019 arising out of IA(IB) No. Date of the Unsecured Creditors of Visa Steel had approached Orissa high court, Financial... Coleman & Co. 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