IVRCL Ltd. News and Updates

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28 May 2018

Expression of interest for IVRCL resolution extended to June 4

Business Line

The last date for submission of the Expression of Interest (EoI) for a resolution plan for IVRCL has been extended to June 4.Sutanu Sinha, Insolvency

IVRCL Ltd.

09 May 2018

IVRCL resolution professional seeks expressions of interest for resolution plan

Business Line

The resolution professional of the debt-laden IVRCL has invited expressions of interest for a resolution plan for the company. The Hyderabad-based in

IVRCL Ltd.

04 Mar 2018

NCLT admits SBI's insolvency proceedings against IVRCL

Business Line

Company Board powers suspendedState bank of India has taken the debt trapped Hyderabad-based construction and infrastructure company IVRCL Limited to the National Company Law Tribunal.

IVRCL Ltd.

11 Dec 2017

Insolvency row: SBI moves NCLT against debt-ridden IVRCL as deadline looms

Business Standard

Hyderabad, 11 December: State Bank of India(SBI) on Monday moved the National Company Law Tribunal(NCLT) against Hyderabad-based infrastructure company IVRCL as the deadline to resolve the large NPA accounts in the second list- outside the NCLT mechanism-was set to expire on December 13.The bank has filed a petition before the Hyderabad bench of NCLT under Section 7 of the Insolvency and Bankruptcy Code(IBC) seeking the initiation of insolvency process for IVRCL. Section 7 of the IBC, 2016 provides the procedure for initiation of insolvency resolution process for the financial creditor.The move comes months after IVRCL management, which has been under the control of lenders following the implementation of strategic debt restructuring(SDR) in January, 2016, failed to get a new promoter on board within the prescribed 18 month time limit. A senior company official confirmed the development. "SBI has filed a petition for initiation of insolvency resolution, not necessarily for the...

IVRCL Ltd.

15 Nov 2017

After a two-year wait, IVRCL still hopes to find a new investor

Business Standard

Hyderabad, 15 November: With lenders in control of management, the debt-laden infrastructure company IVRCL prefers to do what ever it takes to find a new investor, even if it meant a long wait, before exploring options to decide the future course."We would like to sit together with our new investor and then decide the way forward on a financial turnaround plan. We would prefer a solution that can be a win-win for the lenders, the promoters and the company, " a senior IVRCL official told Business Standard on Wednesday. The management had not been able find a buyer in two long years after the strategic debt restructuring(SDR) came into effect even though the lenders were required to transfer 26 percent of their share holding to a new promoter within 18 months of SDR as per the Reserve Bank of India(RBI) guidelines. The senior management official ruled out the possibility of approaching the insolvency tribunal at this stage even as the company in its latest filing stated that 'no...

IVRCL Ltd.

24 Oct 2017

Lenders exit IVRCL's corporate debt package

Business Line

Empowered group approves decision to exit the mechanism

IVRCL Ltd.

23 Oct 2017, 07:33PM

Lenders to exit IVRCL debt restructure mechanism

Business Line

The consortium of lenders who had approved a Corporate Debt Restructure package to IVRCL have decided to exit the CDR mechanism. In a regulatory filing made to the BSE, the Hyderabad-based...

IVRCL Ltd.

14 Aug 2017

IVRCL posts 245-cr loss, pins hopes on strategic investor

Business Line

IVRCL has posted a huge loss of 244.74 crore for the first quarter ended June 30, 2017, against a loss of 153.58 crore for the corresponding quarter last year. The Hyderabad-based construction...

IVRCL posts Rs 245 cr loss in Q1

Business Line | 14 Aug 2017

IVRCL Ltd.

31 May 2017

Infra major IVRCL pares loss to 131 crore in FY17

Business Line

The focus will be on completing ongoing projects, says CMD

IVRCL Ltd.

15 Feb 2017

IVRCL pares loss to 249 cr in Q3

Business Line

IVRCL Ltd has posted a loss of 249.26 crore for the third quarter ended December 31, 2016, against a loss of 306.16 crore for the corresponding quarter last year on a standalone basis. The...

IVRCL posts Rs 249 cr loss in Q3

Business Line | 15 Feb 2017 1 more

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107 Votes:

Buy 71.96%

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Hold 10.28%