bankruptcy

New Delhi, IBBI chief Ravi Mital on Friday urged insolvency professionals to be as transparent as possible, provide more information to stakeholders and ensure faster resolution of stressed assets for better recovery.He also stressed that no one will take action against insolvency resolution...

New Delhi, Multiplier Brand Solutions has moved the NCLAT against the National Company Law Tribunal order which had dismissed its bankruptcy petition against Amazon Wholesale (India).A three-member NCLAT bench, also including Chairman Justice Ashok Bhushan, on Thursday directed to list the...

New Delhi, To ease the compliance burden on insolvency professionals and improve the efficiency of the liquidation process, the IBBI has launched a set of e-forms under the Insolvency and Bankruptcy Code.These forms are crucial for the liquidation process under the Insolvency and Bankruptcy...

The second rights issue began on 13 May and was expected to close on 13 June.The edtech company has been barred by NCLT from using any funds from the second rights issue.According to sources, the company's new petition is likely to be heard in the Karnataka High Court on Monday.Byju's is...

New Delhi: The suspended board of debt-laden Jaiprakash Associates has moved the appellate tribunal NCLAT, challenging last week's NCLT order directing it to initiate insolvency proceedings against the company.The petition was listed before a vacation bench of the National Company Law...

New Delhi, The Insolvency and Bankruptcy Board of India (IBBI) has issued a new set of guidelines to streamline the process of appointing insolvency professionals (IPs) as interim resolution professionals, liquidators and insolvency trustees.Under the new guidelines issued on June 5, a panel...

The group of lenders that gave a $1.4 billion term-loan to Byju's Alpha filed a petition against Neuron Fuel Inc., Epic! Creations Inc. and Tangible Play Inc. has been asked to initiate involuntary proceedings against them in a Delaware court under Chapter 11 of the US Bankruptcy Code.The...

Mumbai: Reserve Bank of India (RBI) Deputy Governor M Rajeswara Rao expressed concern over "tainted" promoters abusing the asset reconstruction companies (ARC) route to enter bankruptcy proceedings and called for reforms in the governance practices of such companies. Called for. Insisted on...

New Delhi: The National Company Law Tribunal (NCLT) has directed replacement of the resolution professional in the insolvency proceedings against Zee founder Subhash Chandra.The bankruptcy tribunal passed this order on Monday on the petition of Subhash Chandra.Delhi-based NCLT bench has now...

New Delhi [India], Finance Minister Nirmala Sitharaman said the Insolvency and Bankruptcy Code (IBC) introduced by the PM Modi-led government is a landmark reform, providing a legal framework to resolve the issues of financially stressed companies. Integrated framework has been introduced. Added...

Mumbai: The cut taken by creditors in bankruptcy resolutions has increased from 64 per cent in FY2023 to 73 per cent in FY2024, a report said on Friday.A total of 269 resolution plans were approved by the National Company Law Tribunal (NCLT) in FY24, up from 189 in the year-ago period...

New Delhi: Jaiprakash Associates, the flagship company of the troubled Jaypee Group, has not repaid the loan of Rs 4,616 crore including principal and interest.In a regulatory filing late on Monday, Jaiprakash Associates Ltd (JAL) said the company missed payment of principal amount of Rs 1,751...

Punjab [India], BJP Punjab President Sunil Jakhar on Sunday said the "appalling and "shameful" statement made by Congress Working Committee member Charanji Singh Channi reflected his bankruptcy and desperation and appealed to the Congress and its allies to address the issue. Asked to clarify...

Kolkata, Amid several setbacks, the Insolvency and Bankruptcy Board of India (IBBI) declared 2023-24 a landmark year with the National Company Law Tribunal achieving a significant 43 per cent increase in resolutions, from 189 cases last year to 125 this year. It's been 200 years. The year has...

New Delhi: Co-working firm WeWork Global, which has filed for bankruptcy in the United States, is in talks with potential investors to sell its entire 27 per cent stake in WeWork India to monetize its investment, sources said. .Bengaluru-based real estate firm Embassy Group, which holds the...

New Delhi: A special court headed by a sessions judge or an additional sessions judge has the jurisdiction to hear a complaint under the Bankruptcy Code (IBC), 2016, the Supreme Court said on Friday, setting aside a 2022 Bombay judgment Gave. high Court.The Bombay High Court had allowed a...