"corporate-insolvency-resolution-process-cirp"

Lulu International Shopping Malls had entered the Hyderabad market a few years back and has set up its mall in Manjeera Mall on a lease basis

Three lessors - NGF Alpha, NGF Genesis and NGF Charlie- have filed petitions under Section 9 of IBC, seeking initiation of insolvency proceedings against SpiceJet claiming dues totalling USD 12.68 million

The admitted claims of employees stood at Rs 1,265 crore, while the consortium has proposed Rs 52 crore to settle their claims.

Earlier, the Dhoot family had offered to pay Rs 30,000 crore to lenders to settle their outstanding loans and pull out 13 Videocon group companies from the insolvency proceedings.