Insolvency

NCLAT upholds late filing of homebuyer claims

When the payment is received by the corporate debtor from an allottee, it becomes obliged to hand over the possession of the house and the allied liabilities.

published on : 19th July 2022

24 bills, including Insolvency and Bankruptcy Code, listed for introduction in Monsoon Session of Parliament

Insolvency and Bankruptcy Code (Amendment) Bill seeks to strengthen the Insolvency and Bankruptcy Code by introducing provisions on cross-border insolvency.

published on : 15th July 2022

NCLT nod on resolution plan must within 30 days, says insolvency panel

The panel has suggested the National Company Law Tribunal (NCLT) should not take over 30 days after receiving a request for approval or rejection of a resolution plan.

published on : 16th June 2022

There should not be any stigma attached to genuine business failure: Insolvency and Bankruptcy Board

He said that insolvency is still in its nascent stage in India and steps need to be taken to make the bankruptcy framework more effective.

published on : 10th June 2022

Wages of employees during insolvency process

Whenever a company becomes insolvent, the problem of the assets being less than what has to be paid always arises.

published on : 2nd June 2022

NCLT allows insolvency proceedings against National Textiles Corporation

The NCLT direction came over a petition filed by Hero Solar Energy Private Ltd (HSEPL)  claiming a default of Rs 13.84 lakh for two contracts for installing solar rooftop power projects.

published on : 29th May 2022

Ram Charan Company Private Limited appeals against NCLT order

RCCPL was represented by senior advocate PH Arvindh Pandian and advocate Ananth Merathia while K Gaurav Kumar appeared for Classic Exports.

published on : 1st May 2022

Comparing realisations with outstanding loans not reasonable to assess IBC effectiveness: RBI DG

Industrialist Harsh Goenka had alleged that public money was being "stolen" through such resolutions.

published on : 30th April 2022

Lenders reject Future Group-RIL deal

It leaves bankruptcy as a strong possibility for the retailer; at least 75% vote was required for the deal to pass.

published on : 23rd April 2022

Vendors can use GST returns as proof of default: Insolvency regulator

In a bid to reduce the delays in the resolution process, the Insolvency Bankruptcy Board of India (IBBI) has proposed some changes in the insolvency and bankruptcy regulations.

published on : 16th April 2022

Bank of India starts insolvency against Future group

Future Retail defaulted on payment of Rs 5,322.32 crore to a string of lenders by the due date of March 31.

published on : 15th April 2022

Challenges posed by insolvency in real estate sector

The status of a homebuyer has been alleviated to the status of the financial creditor and can bring proceedings against the alleged defaulter.

published on : 5th April 2022

Builders’ claim of insolvency and bankruptcy: UP government to set up high-level committee

Buyers have been a harried lot due to non-deliverance of housing units despite making payments. 

published on : 3rd April 2022

Adani, KKR, Piramal among 14 prominent bidders for Reliance Capital

The bidders have two options - either they can bid for the entire RCL or any one or more than one of the eight subsidiaries of the NBFC firm.

published on : 13th March 2022

Jaypee Infratech insolvency: NCLT to hear Suraksha group resolution plan on March 7, 9 

In a regulatory filing, JIL said the listing of matter of resolution plan, along with related pleas, is listed for consideration before NCLT  Principal Bench, New Delhi, on March 7 and 9.

published on : 5th March 2022

Recoveries from insolvency code shrink to 33 per cent  

Narendra Modi government’s much touted reform - the Insolvency and Bankruptcy Code (IBC) -- is floundering as recoveries under IBC continue to shrink further.

published on : 5th March 2022

ZEE Entertainment moves application in NCLT for dismissal of IndusInd Bank's insolvency plea 

IndusInd Bank had moved to National Company Law Tribunal claiming default of Rs 83.08 crore against the media & entertainment firm.

published on : 23rd February 2022

Videocon Group insolvency: NCLAT junks Anil Agarwal-led firm's takeover, calls for fresh bids

The tribunal said that provisions of the Insolvency and Bankruptcy Code have not been complied with during the corporate insolvency resolution process of Videocon.

published on : 5th January 2022

Insolvency cases: After missed timelines in 2021, process likely to speed up with improved infrastructure

As a result, the virtual adjudication process, the mode adopted in the wake of the pandemic, also slowed down.

published on : 31st December 2021

Government proposes framework for cross-border insolvency; seeks comments till December 15

The corporate affairs ministry, which is implementing the Insolvency and Bankruptcy Code (IBC), has sought comments on the draft framework till December 15.

published on : 26th November 2021
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