Promoters abusing IBC, contends stakeholders of TechPro and Educomp
The IBC in section 29A bars promoters to take part in bidding process thus making them ineligible for representation in the committee of creditors.
Search Results for: corporate insolvency resolution proceedings
Powers and Fees of liquidation professional as liquidator
Their powers are extensive and under their purview the liquidation process of a corporate person is carried out.
Debtors of Alok Industries could not be located, says RP
Steps taken by the resolution professional (RP) for Alok Industries to recover trade outstanding to the tune of Rs 11,622 crore from 5,293 debtors
What is Moratorium and public announcement?
Once NCLT has issued moratorium under section 14 of Insolvency Code in respect of Company in liquidation, Bank cannot pursue proceedings for recovery of loan.
Banks to deal with Nirav Modi, NPAs and rising yields
As one of the most eventful quarters for banks comes to a close, lenders’ balance sheets are hit by a triple whammy that could take them a while to recover.
Appellate tribunal stays NCLT order allowing promoter to bid for firm
An appellate tribunal has stayed the order of the National Company Law Tribunal (NCLT) allowing the promoter of MBL Infrastructure to bid for his insolvent company. It also stayed the resolution plan for the company. The Kolkata bench of the NCLT had allowed the promoter of MBL Infrastructure, Anjanee Kumar Lakhotia, to place a resolution … Continue reading “Appellate tribunal stays NCLT order allowing promoter to bid for firm”
Banks can take advantage of the IBC to easy up their balance
The Reserve Bank of India has suggested banks to report for insolvency complaints on their very own rather than watching for its commands.
Arbitration Clause vs RERA Complaints
A detailed article where you will know every thing about an arbitration clause and how it can impact the Builder-Buyer agreement.
SC refuses to grant more time to Jaiprakash Associates for depositing Rs125 crore.
New Delhi: The Supreme Court on Thursday refused to grant extension of time to Jaiprakash Associates Ltd (JAL) to deposit Rs125 crore. The amount is to be deposited by the end of this month. JAL was seeking time until 31 January to deposit Rs125 crore. As of now, the company’s liability is Rs1,525 crores. “Comply with … Continue reading “SC refuses to grant more time to Jaiprakash Associates for depositing Rs125 crore.”
Closing A Company Is Not An Easy Task, Know Clauses To Close A Company
A business may need to be closed for many reasons that may be due to business failure or any other unavoidable circumstances.
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