Creditors to scrap bankruptcy process, accept out-of-court offer from Siva Industries: Report
Rupee rises against dollar
Creditors are likely to scrap bankruptcy process of Chennai-based Siva Industries and Holdings, founded by Chinnakannan Sivasankaran, known as Siva-the former promoter of telecom firm, Aircel. In a new development, the creditors have agreed to accept out-of-court offer from the businessman, according to
Journalist and activist Sucheta Dalal has tweeted about it to Ministry of Finance and Finance Minister Nirmala Sitharaman. She has asked if there will be explanations as to why defaulters like Siva, Gitanjali Group s Mehul Choksi and Winsome Diamonds Jatin Mehta are being spared.
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