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CORPORATE DEBTOR MANAGEMENT
When a small footnote is used as a tool to make a weak balance sheet look strongThis is the uncomfortable truth about company accounts. A number on a balance sheet is not always cash that will return, and a liability tu...- NCLT admits SBI plea for personal insolvency proceedings against Anil AmbaniMumbai NCLT has admitted SBI's plea to start personal insolvency proceedings against Anil Ambani. This follows a Rs 1,200 crore claim by th...
- NCLAT quashes Ligare Aviation's insolvency; loan from Religare Enterprises round-tripping of moneyThe National Company Law Appellate Tribunal has cancelled insolvency proceedings against Ligare Aviation. The tribunal found the National C...
- The billionaire shakedown: How India changed its 'default' settingsIndia's decade-old Insolvency and Bankruptcy Code has revolutionized corporate finance, ending a 'defaulter's paradise' and recovering tril...
- IBC 10-year anniversary scorecard: Over Rs 4 lakh crore realised, big implications for credit markets, economic efficiencyThe Insolvency and Bankruptcy Code has helped creditors recover over Rs 4 lakh crore rupees. The Code has revived many distressed companies...
- Venugopal Dhoot moves SC against order upholding separate insolvency for Videocon Industries Ltd and VOVLVideocon founder Venugopal Dhoot has approached the Supreme Court. He is challenging a recent appellate tribunal order. This order allows s...
- Adani’s ₹5,700 crore Jaypee takeover gets monitoring panel to oversee execution of key dealsAdani Enterprises is embarking on a transformative journey to breathe new life into Jaiprakash Associates. With assets valued at around ₹5,...
- Deloitte India could lead professional services space soon: Romal ShettyDeloitte India’s leadership believes that the future of professional services will extend beyond traditional offerings to solutions, platfo...
- NCLAT upholds separate insolvency processes for Videocon Industries and Videocon Oil VenturesThe NCLAT has upheld separate insolvency proceedings for Videocon Industries Ltd (VIL) and Videocon Oil Ventures Ltd (VOVL), overturning an...
- NCLT approves Mantra Properties buyout of Mulund projectThe company entered corporate insolvency resolution process (CIRP) in July 2023 on a plea by Beacon Trusteeship Ltd. It has two secured cre...
- Faster insolvency process proposed with creditor-led resolution frameworkA new Creditor-initiated Insolvency Resolution Process (CIIRP) aims to expedite debt resolution, allowing financial creditors with 51% debt...
- New creditor-led IBC framework to put in place safeguards for stressed firm's managementNew creditor-led insolvency rules will impose strict financial transaction limits on stressed companies, requiring committee of creditors' ...
- Government sets minimum default threshold at Rs 10 lakh for MSME prepack insolvency resolutionThis distancing of the resolution professional will also work as a countermeasure to the debtor-in-control model that works in such pre-pac...
- Bankruptcy court admits insolvency plea against listed beverage firm Manpasand BeveragesThe company has said in its stock exchange announcement on March 9 that, as per Section 17 of the IBC, the powers of the Board of Directors...
- IBC to trump PMLA in case of corporate debtors, not wrongdoers: SCIn a ruling that will have a bearing on several high-profile insolvency cases, the Supreme Court has clarified that proceedings against a c...
- GSTN enables new registration functionality for insolvency resolution professionalsIn March, the CBIC said the corporate debtors shall be liable to obtain new registration through IRP or RP.
- No moratorium for personal guarantors: Supreme CourtThe law mandates a moratorium of 180 days against a corporate debtor once insolvency proceedings start.
- NCLT nod to initiate insolvency against Bhushan EnergyA two-member bench of NCLT has appointed Navneet Kumar Gupta as the interim resolution professional (IRP) to initiate insolvency proceeding...
- Can a bank allow a company under insolvency to withdraw cash?In an embarrassing case, Amtek Auto managed to withdraw money from its account in IOB Hosur branch although loans taken from the bank’s Raj...
- Bankruptcy Code: Alarm bells for trade, industry and commerceThe proposed bankruptcy code is also an alarm to all the debtors to ensure that commitments to make payment whether for loan repayment.
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