insolvency

Mumbai: Loan recoveries from stressed residential realty projects are set to increase in the current financial year due to higher property prices as well as changes in regulations, a report said on Monday.Domestic rating agency CRISIL said in a report that the bad loan recovery rate is...

New Delhi, Mumbai-based Suraksha Group, which recently took control of debt-ridden realty firm Jaypee Infratech through the insolvency process, will pay around Rs 133 crore to the Yamuna Expressway Industrial Development Authority within three months as additional compensation. Will pay the...

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 National Company Law Tribunal (NCLT), while accepting Jammu and Kashmir Bank's plea for default in corporate guarantee given to LEL Electricals, has directed initiation of insolvency proceedings against Himalayan Mineral Waters.The Allahabad bench of NCLT has also appointed...

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...

New Delhi: NCLT, which on Monday ordered initiation of insolvency proceedings against Jaiprakash Associates Ltd (JAL), rejected the company's contention that it faced liquidity crunch mainly due to delay in government approvals. And there was default in repayment of loan due to protracted...

New Delhi: The National Company Law Tribunal (NCLT) on Monday accepted the petition filed by private lender ICICI Bank and directed initiation of insolvency proceedings against debt-ridden Jaiprakash Associates Ltd.Jaiprakash Associates Limited (JAL), the flagship firm of the Jaypee Group, is...

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...

New Delhi, Highlighting the consequences of the insolvency law implemented in 2016, Finance Minister Nirmala Sitharaman on Thursday criticized the Congress, saying the party always shies away from taking progressive steps for India's development and only encourages regressive policies. Is...

New Delhi: Engine Lease Finance BV, the aircraft engine leasing company of SpiceJet, has filed an insolvency petition before the NCLT against the debt-ridden airline for non-payment of more than US $ 12 million (about Rs 100 crore).Engine Lease Finance (ELF) has leased eight engines to...

New Delhi: Insolvency appellate tribunal NCLAT has upheld its order approving Aden Goodhomes' resolution plan for realty firm Radius Estate with a 93 per cent haircut to creditors.A two-member bench headed by the NCLAT Chairperson dismissed the petitions of two dissenting financial creditors...

New Delhi, More than three months after jointly bidding for GoFirst, travel portal EaseMyTrip CEO Nishant Pitti on Saturday said he is withdrawing his bid for the bankrupt airline.Busy Bee Airways, majority-owned by Pitti along with SpiceJet chief Ajay Singh, had in February bid for GoFirst...

New Delhi, Insolvency appellate tribunal NCLAT on Friday upheld Suraksha Realty's bid to acquire debt-ridden Jaypee Infratech, but asked it to pay an additional Rs 1,334 crore as compensation to farmers - various from the development. More than 20,000 home buyers facing genuine problems are...

New Delhi: Insolvency appellate tribunal NCLAT on Friday upheld Suraksha Realty's bid to acquire debt-ridden Jaypee Infratech Ltd, but asked it to pay an additional amount of about Rs 1,300 crore as compensation to farmers.Upholding the National Company Law Tribunal (NCLT) judgment of March...

New Delhi: Legal and administrative reforms are needed to ensure greater efficiency in resolving real estate cases under the insolvency law, according to a study.In its study, the Indian Institute of Insolvency Professionals of ICAI (IIIPI) has suggested that wherever possible, the focus...

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, Salasar Techno Engineering Ltd (STEL) on Wednesday said it has paid Rs 168 crore as balance payment to complete the acquisition of EMC Ltd through the insolvency process.The total acquisition cost of the engineering, procurement and manufacturing (EPC) firm is Rs 178 crore, STEL...

New Delhi: ICAI's Indian Institute of Insolvency Professionals (IIIPI) on Tuesday said it has reduced the annual membership fee for insolvency professionals and insolvency professional institutions (IPEs) by 50 per cent.According to a release, the membership fee for Judicial Insolvency...

New Delhi, ICAI's Indian Institute of Insolvency Professionals (IIIPI) will bring the support services provided by Insolvency Professional Entities (IPEs) under peer review mechanism.According to a release, the move will help insolvency professionals assess the adequacy of the infrastructure...