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IBC FRAUDS
ED chief orders action against IBC frauds, large haircuts to promotersThe ED director has ordered increased action on IBC fraud cases. He also directed steps for police FIR delays in certain states. Investigat...- NCLT rejects Jet Airways' liquidator plea seeking Rs 500 crore from BoeingThe National Company Law Tribunal dismissed Jet Airways' plea for a refund from Boeing. The tribunal cited a contractual dispute over advan...
- Subhash Chandra case: CBI lodges FIR against Essel Group chairman, others in Rs 1,322 cr fraudThe CBI registered an FIR against Essel Group chairman Subhash Chandra for alleged fraud. This action follows his opposition to a tribunal ...
- 'Indian debt resolution justice," Vijay Mallya alleges denial of justice, raises debt resolution questionsIn December 2025, Mallya had questioned the Central government and public sector banks over what he described as inconsistent statements on...
- Parliamentary panel seeks penalties for banks hosting multiple mule accountsA parliamentary committee suggests penalizing banks for mule accounts and KYC lapses. It also highlighted delays in merchant discount rates...
- Banks can flag fraud despite IBC shield: NCLTThe National Company Law Tribunal (NCLT) has ruled that a moratorium under the IBC doesn't prevent banks from classifying accounts as fraud...
- ED restitutes assets worth Rs 4,025 crore in Bhushan Steel bank 'fraud' caseThe Enforcement Directorate (ED) returned ₹4,025 crore to JSW, the successful bidder for Bhushan Power and Steel Ltd's assets under the Ins...
- Supreme Court to decide if PMLA overrides IBCTaking up an appeal filed in the matter of Ashok Kumar Sarawgi versus the ED, the apex court issued notices on November 11 to all parties a...
- NCLT directs investigation against Wave Megacity for alleged siphoning of homebuyers' moneyNCLT also imposed a fine of Rs 1 crore on Wave Megacity for attempting to play fraud on thousands of homebuyers by filing a petition under ...
- Srei founder urges RBI governor to advise banks not to act on KPMG reportEven though Kanoria had moved the court challenging the report, he has appealed to Reserve Bank of India (RBI) governor Shaktikanta Das to ...
- Religare Finvest lenders to move RBI for insolvencyUnder the Insolvency and Bankruptcy Code (IBC) framework, only the RBI can refer a finance company for insolvency proceedings. Lenders are ...
- RBI panel calls for an overhaul of ARC regulationsA central bank panel has suggested an overhaul of the rules governing Asset Reconstruction Companies (ARC) to enhance the availability of b...
- Banks may target family trusts of loan guarantorsMany of the family trusts created by businesspeople are meant primarily to protect their assets from potential claims related to their comp...
- Where companies are under huge debt pressure you tend to see white collar crime: Samir Paranjpe, Grant Thornton"I think it’s very clear that both small and large companies are equally impacted today. So we are seeing extreme cases where very large co...
- Lenders to move Supreme Court against NCLAT order on Essar, says SBI chairmanKumar pointed out that there is a distinction between secured and operational creditors, and that the former have a greater right on an ass...
- Irregularities of more than Rs 1 lakh cr found in cos under Insolvency and Bankruptcy CodeThe ministry of corporate affairs, which is responsible for implementation of IBC, is expected to initiate action against the promoters, di...
- Finance Ministry asks PSU bank CEOs to check frauds in NPAs or face penal actionOver a dozen cos undergoing bankruptcy process are being reviewed by probe agencies for frauds
- RBI governor appears before Parliamentary panel; assures steps to strengthen banking systemSources present at the meeting of the Parliamentary Standing Committee on Finance said the RBI Governor expressed confidence of tiding over...
- Parliamentary panel pulls up SBI, PNB chiefs over bank NPA'sEarlier, bankers appearing before a different parliamentary panel had said the 180-day resolution plan for NPAs under the Insolvency and Ba...
- Ricoh India files for insolvency"The company has come to a position where it is unable to meet its liabilities," said Ricoh India in a statement explaining the decision.
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