India winning NPA War steadily- Bhushan Steel puts Rs.36,400 crore in Bank, a way to recovery
NPA War: The major buyout of debt-ridden Bhushan Steel by a Tata Group company and many more to come under the Narendra Modi-led government’s IBC reform.
Search Results for: Insolvency and Bankruptcy Code
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
Amendments to be introduced in IBC to sync it with RERA
The government must amend the IBC to recognize the legitimate claim of home buyers. After all, they use their lifetime savings to invest in a house.
NCLT declares second round of bid invalid of ESSAR Steel
The Ahmedabad bench of the National Company Law Tribunal (NCLT) on Thursday asked the debt-laden Essar Steel’s committee of creditors
Mobilox v Kirusa- Supreme Court interprets ‘existence of dispute’ as per IBC
The Supreme Court of India in Mobilox Innovations Private Limited v Kirusa Software Private Limited has finally settled the widely debated question of what constitutes “existence of a dispute”.
Financial Sector Reforms in India
The IBBI and the adjudicating authority are set to play a major role towards the implementation of the new insolvency regime which undoubtedly acts as a catalyst of change and ensures ease of doing business in India.
Educomp’s resolution plan to be dealt by NCLT
The corporate tribunal is expected to hear the matter on Thursday, weeks after the 11th meeting of the “Committee of Creditors” of Educomp Solutions BSE 2.93 % was held on March 13.
Jyoti Structures faces liquidation of Rs.7000 Crore
Jyoti Structures, one of the 12 entities from the first central bank list to be taken to bankruptcy courts, would head into liquidation, inflicting a loss of Rs.7,000 crore on the affected bankers, people in the know told ET.
Ericsson vs. Aircel- The former moves to Delhi High Court to recover dues
Swedish telecom equipment manufacturer Ericsson has moved to Delhi High Court against Aircel and its units to get their debts back worth Rs.251.40 crore
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”
NCLAT getting clogged up; Appellate body has no competition regulation professional
Tribunals have been predicted as a solution to judicial delays and a tool to harness fee-effectiveness, accessibility, expedited functioning, professional understanding and freedom from technicalities getting used as pace-breakers. Nevertheless, fact seems pretty unique as a long way as opposition appeals are worried. The Indian competition adjudicatory shape includes the Competition Commission of India (CCI) … Continue reading “NCLAT getting clogged up; Appellate body has no competition regulation professional”
NCLT declines extending the deadline for liquidation
National Company Law Tribunal (NCLT) declined to extend the deadline for finalizing a rescue plan for the insolvent firm beyond the mandatory 270-day
Supreme Court stays NCLT order allowing government to take control of Unitech
New Delhi: The Supreme Court on Wednesday stayed an order of the National Company Law Tribunal (NCLT) that allowed the government to take control of troubled builder Unitech Ltd by suspending its board. “NCLT should not have passed the order. We direct the stay of the order dated 8 December,” said Chief Justice Dipak Misra. The … Continue reading “Supreme Court stays NCLT order allowing government to take control of Unitech”
Now Bank will be able to Start the loan recovery Process before 90 Days
A senior government official said that recent amendments in banking rules will help bank solve the problem of debt deferred soon. According to RBI regulations, if the amount of any loan amount is more than 90 days, then it becomes non-performing.
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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