IDBI TRUSTEESHIP SERVICES
From bankruptcy to bull run: Can Reliance Infra & Reliance Power fuel Anil Ambani’s comeback saga?
Anil Ambani's Reliance Infrastructure and Reliance Power are experiencing a significant resurgence, with stock prices soaring. Reliance Infrastructure benefited from a legal reprieve and strategic defense contract, while Reliance Power is boosted by major solar projects and a return to profitability. These developments spark hopes for a potential comeback after years of financial struggles.
Anil Ambani's Reliance Infra says NCLAT suspends NCLT order admitting co into insolvency; shares edge up over 10%
The National Company Law Appellate Tribunal (NCLAT) has suspended the National Company Law Tribunal’s (NCLT) order from May 30, 2025, which had initiated the Corporate Insolvency Resolution Process (CIRP) for Reliance Infrastructure. Following this suspension, shares of the Anil Ambani-owned company surged, trading at Rs 378.35 apiece on the BSE, marking a 10.64 per cent increase.
Bankruptcy court admits insolvency resolution plea against Reliance Infrastructure
The NCLT's Mumbai bench has initiated insolvency proceedings against Reliance Infrastructure following a petition by IDBI Trusteeship Services over unpaid dues exceeding Rs 88 crore. Tehseen Fatima Khatri has been appointed as the interim resolution professional. Reliance Infrastructure claims full payment has been made and intends to appeal the order, deeming it infructuous.
Reliance Infra says made full payment of Rs 92.68 cr, NCLT order infructuous
Reliance Infrastructure has cleared its dues of Rs 92.68 crore to Dhursar Solar Power. This payment addresses claims related to tariff agreements. Consequently, the company aims to withdraw the insolvency order issued by NCLT Mumbai. Reliance Infra plans to appeal before the NCLAT. The initial insolvency plea was filed by IDBI Trusteeship Services concerning payment defaults.
Sapphire Media completes acquisition of Big FM 92.7
Sapphire Media Limited has successfully acquired the debt-ridden Reliance Broadcast Network, owner of Big FM 92.7, through the insolvency process. The acquisition, approved by NCLT and NCLAT, includes all statutory approvals from the Ministry of Information & Broadcasting.
Coffee Day Enterprises' total default at Rs 425.38 crore as on March, 2025
Coffee Day Enterprises Limited faces a significant financial hurdle. The company reports a default of over Rs 425 crore on loan repayments. This includes interest and principal amounts owed to banks and other debt securities. A liquidity crisis is the reason for the delay. Lenders have issued loan recall notices and initiated legal action.
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SC agrees to hear IDBI Trusteeship Services’ appeal, issues notice to Essel group entities
The Supreme Court has asked a response from Essel group firms, Cyquator Media Services Pvt Ltd and Direct Media Distribution Ventures, on the appeal against a National Company Law Appellate Tribunal's (NCLAT) September order that rejected its insolvency plea against the firms. The NCLAT dismissed an insolvency petition against Direct Media Ventures and two days later, the insolvency petition against Cyquator Media, a promoter group company of Zee Entertainment Enterprises.
NCLAT dismisses IDBI Trusteeship plea for insolvency against Essel group entity Cyquator Media Services
A two-member bench of the appellate tribunal observed that the default, claimed by IDBI Trusteeship, had happened during June 2020, which is covered under the period excluded under Section 10A of the Insolvency and Bankruptcy Code, 2016. Section 10A bars absolutely and forever, the filing of any application under Sections 7, 9 and 10 of the Code, for defaults committed on or after March 25, 2020 up to March 25, 2021.
Insolvency plea against Essel entity Cyquator dismissed
In its petition against Cyquator Media, IDBI Trusteeship had invoked the provisions of Section 7 Insolvency and Bankruptcy Code read with Rule 4 of Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016 for resolution of financial debt worth ₹599 crore.
HC appoints court receiver for future associate company's Mall
The Bombay High Court has appointed a receiver for an Ahmedabad mall owned by an associate company of Kishore Biyani's Future Corporate Resources following applications by IDBI Trusteeship Services and Edelweiss Special Opportunities Fund. The applications were filed with regards to recovery of dues worth ₹401 crore.
Future appeals against ruling on stake sale in insurance arm
The court will hear the matter on Monday. The city civil court in Mumbai has passed an ex-parte interim order in a plea filed by IDBI Trusteeship Services on behalf of its bondholders. Senior Advocates Ravi Kadam and Vikram Nankani are appearing for Future Enterprises along with law firm Naik, Naik & Co.
NSE-BSE bulk deals: IDBI Trustee dumps more shares of GTL and GTL Infra
IDBI Trusteeship sold 10 crore shares of GTL Infra on BSE and 25 crore shares on NSE at Rs 2.03 and Rs 2.04 apiece, respectively.
IDBI Trusteeship Services invokes pledged shares of Coffee Day Enterprises
The shares were sold on May 17, 2021, and, based on the weighted average price of the stock at Rs 30.14 apiece, sale of 4,865,067 equity shares of Coffee Day Enterprises is estimated at a sum of Rs 14.66 crore.
IDBI Trustee plans to grow AUM by 12%, expand product suite
IDBI Trusteeship, which manages a portfolio of more than Rs 43 lakh crore, is targeting a further 12% AUM growth in the coming fiscal year across its trusteeship business, including debenture trusteeship, security trusteeship, alternate investment funds, infra investment trusts and masala
IDBI Trustee appeals to RBI to reconsider move to write-off tier 2 bonds
The trusteeship has also requested the RBI to protect interest of debenture holders.
BSE-NSE Bulk deals: IDBI Trusteeship Services offloads 2.5 crore shares of Siti Networks
IDBI Trusteeship Services sold nearly 2.55 crore shares of Siti Networks at a price of Rs 0.55 per share, while Ashwin Porwal HUL bought 45 lakh shares at a similar price.
Franklin Templeton gets HC nod to sell Essel’s pledged shares
The shares were pledged with Franklin Templeton as a security cover for debentures of Essel Infraprojects worth Rs 425 crore, which the fund house had subscribed to.
IDBI Trusteeship Services releases 12.5 lakh pledged shares of Max Financial
The 12.5 lakh shares are equivalent to 0.47 per cent equity stake.
Bondholders and lenders of GVK Power Goindwal at loggerhead over priority payment
IDBI Trusteeship filed the case on behalf of DB International (Asia), an affiliate of Deutsche Bank.
Bondholders drag Reliance Home Finance to NCLT
IDBI Trusteeship wants the tribunal to seize the assets of Reliance Home Finance and Reliance Capital to recover the dues.
Reliance Home Finance could land at NCLT
Debt investors of RHFL are planning legal action that may include a request for recovery proceedings.
Religare gets shareholders' approval to repay Axis loan
In the postal ballot notice issued in July, Religare Enterprises had said that it proposes to make further capital investment of up to 500 crore in Religare Capital Markets (RCML).
Jyoti will clear dues by December, SBI assures bondholders
ET has gone through the letter sent by IDBI Trusteeship Services to bondholders that summarises takeaways from the minutes of a meeting held between SBI, Jyoti structures and IDBI Trusteeship Services, in which the latter requested the lender to allow the company to make payments.
Ventura Power pledges its 2.65 per cent stake in Adani Power
Ventura Power Investments Pvt Ltd said it has pledged 7.77 crore shares or 2.65 per cent stake in Adani Power Ltd, to IDBI Trusteeship Services Ltd
IDBI Trusteeship acquires 6.44 per cent equity shares of Adani Power
The statement revealed that the IDBI Trusteeship acquired 18.49 crore shares on June 17.
Mallya's stake in United Spirits Limited declines as Kingfisher Airlines’ lenders invoke shares
USL said lender IDBI Trusteeship Services invoked 3.14 million pledged shares held by United Breweries Holdings (UBHL) in USL, now a Diageo-owned company.
Jaiprakash Power Ventures pledge more shares
Jaiprakash Power Ventures today said the amount of shares in possession of IDBI Trusteeship Services on behalf of lenders increased to 10.83 per cent.
IIFL Inc buys Shriram City Union Fin shares worth Rs 100 cr
IIFL Inc purchased 4.12 lakh shares of Shriram City on the BSE and 3.98 lakh scrips on the NSE from the open market.
IDBI Trusteeship Services sells 2.30% stake in Parsvnath Developers
Parsvnath said IDBI Trusteeship Services has released the shares, leading to dilution of its stake in the co by 2.30% stake from 15.66% earlier.
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