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BANKRUPTCY TRIBUNAL DECISION
'Creditors can't seek claims beyond okayed resolution plan'Creditors seeking duplicate recoveries from group companies after a resolution plan is finalized will be disappointed, the NCLT ruled. JM F...- 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: Creditors realised Rs 4 lakh cr; cases involving Rs 14 lakh cr settled in pre-admission stageIndia's Insolvency and Bankruptcy Code (IBC) has facilitated over Rs 4 lakh crore in creditor realisations from resolved cases. Additionall...
- 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...
- 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...
- NCLAT dismisses Vedanta plea against Adani’s Jaiprakash Associates bid, upholds NCLT orderThe National Company Law Appellate Tribunal has dismissed Vedanta's challenges against Adani Enterprises' winning bid for Jaiprakash Associ...
- Insolvency law not a recovery mechanism, Supreme Court reiterates in key IBC rulingIn a landmark decision, the Supreme Court has clarified that insolvency law is not intended for the mere pursuit of debt recovery. It highl...
- NCLAT reserves order in Jaypee insolvency case; Vedanta alleges flawed evaluation, Adani defends bidding processThe National Company Law Appellate Tribunal has reserved its judgment in the Jaypee insolvency case. Vedanta Group argued the resolution pr...
- Supreme Court refuses to stay Adani’s ₹14,500 cr JAL resolution planThe Supreme Court has declined to halt Adani Group's ₹14,500-crore plan for Jaiprakash Associates. Vedanta's challenge to the resolution pl...
- 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...
- NCLT allows 936 days exclusion from Lok Housing’s resolution processAs per the bankruptcy regulation, the lenders and the resolution professional are expected to complete the resolution process within a tota...
- Appellate Tribunal dismisses IBBI plea in GTL Infra caseThis NCLT order has already been challenged by Canara Bank before the appellate tribunal NCLAT, which issued notices on January 23, 2023, a...
- NCLAT stays formation of committee of creditors to overtake group company of realty developer ATS“We welcome the decision of the Court to put a stay on the constitution of CoC till the next hearing. We are adhering to all legal guidelin...
- Telecom bankruptcies worth $6 billion left hanging as ministries argue over airwavesAny uncertainty about lenders’ rights over the key assets of operators could also discourage lending or bank guarantees to Bharti Airtel Lt...
- Debt-ridden IL&FS to file bankruptcy for its offshore firms IIDL, IIDMCC in UAE"After hearing both the sides and on perusal of records, this bench is of the view that the initiation of bankruptcy proceedings is the bes...
- Sterling SEZ: NCLT gives an earful to bankers, orders their personal presence FridayNitin and Chetan Sandesara are absconding and are believed to be abroad and are facing a Delhi court trail to declare them fugitive economi...
- IBBI needs to have more powers, says NCLAT ChairpersonUnder the Code, the CoC represents the creditors and a resolution plan requires its approval before being finally cleared by the tribunal.
- Lenders to oppose NCLT decision to start RCom bankruptcy proceedingsRCom and its two units opposed the NCLT order, saying the Swedish company was an operational creditor.
- IBC panel for allowing lenders to invoke personal guaranteesIf accepted, this will be a significant move in the light of a recent decision by the NCLAT that SBI cannot invoke personal guarantees and ...
- Tribune may file for bankruptcy protection: ReportsLeading US media house Tribune Co is possibly preparing to file for bankruptcy protection after suffering losses in the third quarter, indi...
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