Late on Wednesday, CBI issued a press release which read, “It was alleged that the borrower company and its promoters entered a conspiracy with others and cheated IDBI Bank by way of misappropriation of funds and criminal breach of trust, manipulation of books of accounts etc.
The Indian government has initiated the process of selling a majority stake in IDBI Bank by inviting bids for an asset valuer. The chosen valuer will evaluate the bank s assets and provide support during the sale. Interested parties have until October 9 to submit their bids. The Department of Investment and Public Asset Management (DIPAM) is overseeing the strategic sale, pending clearance from the Reserve Bank of India. Once clearance is obtained, due diligence will be conducted by bidders.
The National Company Law Appellate Tribunal (NCLAT) on Wednesday deferred the hearing of IDBI bank s plea against Zee Entertainment till August 17. The private lender has challenged an NCLT order, which had on May 19 rejected its plea to initiate insolvency proceedings against the media major.
IDBI bank has moved the National Company Law Appellate Tribunal (NCLAT) against Zee Entertainment to challenge an NCLT order, which rejected the private lender s plea to initiate insolvency proceedings against the media major. IDBI s petition has been listed for hearing on Wednesday before a bench comprising Chairperson Justice Ashok Bhushan and Member Barun Mitra.
NARCL has acquired its first stressed asset of Jaypee Infratech Limited for a purchase consideration of ₹3,570 Crores in the form of cash and security receipts.