NCLT appoints IRP for ATS project on finance company's request

Jaiprakash defaults on Rs 46.16 bn loans

Jaiprakash Associates, the flagship firm of the crisis-hit Jaypee Group, has announced a default on loans totalling Rs 46.16 billion, encompassing both principal and interest amounts. The disclosure, made in a regulatory filing, stated that Jaiprakash Associates (JAL) had failed to repay a principal sum of Rs 17.51 billion and interest amounting to Rs 28.65 billion on April 30.

According to JAL, the company's total borrowing, inclusive of interest, stands at Rs 298.05 billion, with a repayment deadline of 2037. However, as of April 30, 2024, only Rs 46.16 billion remains outstanding. <..

Jaiprakash Associates defaults on Rs 46.16 billion loans

Jaiprakash Associates, the flagship firm of the crisis-hit Jaypee Group, has announced a default on loans totalling Rs 46.16 billion, encompassing both principal and interest amounts. The disclosure, made in a regulatory filing, stated that Jaiprakash Associates (JAL) had failed to repay a principal sum of Rs 17.51 billion and interest amounting to Rs 28.65 billion on April 30.

According to JAL, the company's total borrowing, inclusive of interest, stands at Rs 298.05 billion, with a repayment deadline of 2037. However, as of April 30, 2024, only Rs 46.16 billion remains outstanding. <..

Lavasa creditors invoke DPIL's guarantee

Creditors to Lavasa Corp invoked the Rs.250 million performance bank guarantee (PGB) by Darwin Platform Infrastructure (DPIL), citing non-compliance of the corporate insolvency resolution process (CIRP) timeline.

This came nine months after the National Company Law Tribunal (NCLT) approved the transaction. Invocation of the guarantee means the monitoring committee to implement the plan has now been dissolved and the CIRP process has been halted, putting the decision on the future of the private hill town project back before the NCLT.

The lenders took a decision to invoke th..

TVS Motor Unveils Electric Two-Wheeler

TVS Motor Company, a leading two-wheeler manufacturer in India, has unveiled its latest addition to the electric vehicle segment with the launch of the TVS iQube Electric in Bengaluru. This move marks the company's foray into the burgeoning electric vehicle market, aligning with the global shift towards sustainable mobility solutions.

The TVS iQube Electric promises to redefine urban commuting with its advanced technology and eco-friendly features. Boasting a sleek design and compact structure, the electric scooter is tailored to meet the evolving needs of urban commuters, offering a s..

Chinese EV Giant Leapmotor Eyes Indian Market

Chinese electric vehicle (EV) manufacturer Leapmotor is poised to make a significant entry into the Indian market in the third quarter of the 2024-25 fiscal year. With India rapidly transitioning towards electric mobility, Leapmotor's arrival could mark a pivotal moment in the country's automotive industry.

Leapmotor's decision to venture into India underscores the growing appeal of the country as a lucrative market for EV manufacturers worldwide. As one of the world's largest automotive markets, India presents immense opportunities for companies looking to capitalise on the increasing..