Nirav Modi and ICICI cases to get special attention from Ministry of Corporate Affairs

Nirav Modi scam and the ICICI Bank controversy were amongst the top notch cases that the NCLT is dealing with and Government is taking keen interest in resolving these issues.

Operational Creditors still unable to gain from Insolvency Resolution

According to the terms of loan resolution in the Insolvency and Bankruptcy Code, the first preference on recovery is to secured financial creditors, followed by unsecured financial creditors, and then operational creditors.