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Punj Lloyd Limited is an Indian Engineering, procurement and construction (EPC) company providing services for energy, infrastructure and defense sectors. The company's operations are spread across the Middle East and Africa, [ 2 ] [ 3 ] Asia Pacific, South Asia and Europe.
Under UK insolvency law an insolvent company can enter into a company voluntary arrangement (CVA). The CVA is a form of composition, similar to the personal IVA (individual voluntary arrangement), where an insolvency procedure allows a company with debt problems or that is insolvent to reach a voluntary agreement with its business creditors regarding repayment of all, or part of its corporate ...
It was established on 1 October 2016 and given statutory powers through the Insolvency and Bankruptcy Code, which was passed by Lok Sabha on 5 May 2016. It covers Individuals, Companies , Limited Liability Partnerships and Partnership firms .
Pre-packaged insolvency (a "pre-pack") is a kind of bankruptcy procedure, where a restructuring plan is agreed upon in advance of a company declaring its insolvency. In the United States pre-packs are often used in a Chapter 11 filing.
In 2015, Singapore-based Temasek Holdings purchased Punj Lloyd's 17.74% stake in the company. [10] In 2015, Medanta launched a 160-bed hospital in Indore. [11] Later that year, Medanta acquired the Abdur Razzaque Ansari Memorial Weavers' Hospital on the outskirts of Ranchi from Apollo Hospitals. [12]
A transaction at an undervalue in U.K. insolvency law can only be pursued by an administrator or liquidator of the company. [5] The transaction must have been a gift, or a transaction where the company received consideration of money or money's worth which was significantly lower in value than the asset was worth. [ 6 ]
The full list of organisations approved by the Insolvency Service as competent authorities are listed on the .Gov.UK web site. [ 10 ] Upon receipt of the application and payment of the fee, an Official Receiver may make the order, administratively, without the involvement of the court if it appears that the applicant meets the requirements.
GMR Group is an Indian multinational conglomerate headquartered in New Delhi.The group was founded in 1978 by Grandhi Mallikarjuna Rao and comprises several companies including GMR Infrastructure, GMR Energy, GMR Airports, and GMR Enterprises.