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CORPORATE DEBTORS
Need reforms for higher recoveries and speedier resolutions in IBC: IBBI ChairJayanti Prasad emphasized the need for reforms in India's debt resolution framework to improve realizations and safeguards. Justice Anupind...- IHH plans to raise Fortis stake to 51%, expand capacity to 10,000 beds by 2031IHH Healthcare aims to raise its stake in Fortis Healthcare to 51 percent within three to five years. The company intends to increase Forti...
- Fortis Healthcare confident forensic audit will clear company in share transfer disputeFortis Healthcare has expressed confidence that a forensic audit will verify its non-involvement in a share transfer dispute. The Supreme C...
- Fortis defends itself after Supreme Court allows forensic audit, says it was "complete stranger" to Daiichi-Singh Brothers disputeIn a disclosure to the stock exchanges, Fortis said the Supreme Court, in its September 25 order, disposed of the company's Special Leave P...
- McNally Bharat: ED probes 'backdoor return' of old power network via IBCEnforcement Directorate has traced ₹105 crore of cash infusion to McNally Bharat Engineering from Vishwa Group entities. The funds moved th...
- Dredging Corporation tells Delhi HC it faces cash crunch over ₹51-crore Mercator Award; court warns of coercive actionThe disclosure came in an additional affidavit filed by the Corporation in execution proceedings before Justice Om Prakash Shukla. Accordin...
- Insolvency regulator mulls tighter safeguards for personal guarantee insolvencyIndia’s insolvency regulator is proposing tighter safeguards for personal guarantor cases, including zero voting rights for related-party c...
- NCLT approves Shree Naman's Rs 1,800 cr bid for Gstaad, Neo HotelsThe bankruptcy court in Mumbai has greenlit Shree Naman Developers' ambitious acquisition valued at ₹1,800 crore for two hotel establishmen...
- NCLAT sets aside Zaveri Group's bid for Gujarat Hydrocarbons and Power SEZThe NCLAT has overturned Zaveri Group's resolution plan for GHPSL. This decision mandates a restart of the insolvency process with new bids...
- Corporate stress remains benign despite IBC delays and deep haircuts: KotakIndia's corporate credit cycle is expected to remain stable in the near future. Strong corporate balance sheets and moderate debt levels su...
- Dissenting creditors alleged family-linked entities cast 61.78 pc votes that cleared Subhash Chandra's insolvency planDissenting lenders have alleged that five entities linked to Subhash Chandra’s family controlled 61.78% of voting rights and helped approve...
- Sintex Industries: NCLAT upholds clean slate principle, rejects shareholder's plea for compensationIn a critical ruling, the National Company Law Appellate Tribunal (NCLAT) upheld the clean slate principle enshrined in the Insolvency and ...
- 99.97% haircut? How the scissors worked in the Subhash Chandra caseNCLT has approved a resolution plan allowing Zee founder Subhash Chandra to pay about ₹6.5 crore against ₹22,006.57 crore in admitted claim...
- Insolvency professionals need to be wary of IBC abuse indicators: IBBIInsolvency professionals are now required to watch for at least nine "indicators" to prevent abuse of the Insolvency and Bankruptcy Code (I...
- NCLAT upholds insolvency proceedings against Nyka Steel guarantor over UCO Bank duesThe NCLAT upheld an NCLT order initiating insolvency proceedings against a personal guarantor. This decision involved Asif Ahmed Siddique, ...
- NCLAT junks plea of Log 9 Mobility's executives against order to assist in recovery of EVs leased from GensolThe NCLAT rejected an appeal by Log 9 Mobility's suspended directors. They challenged an NCLT order to help recover leased electric vehicle...
- How companies create fake cash in books, and take investors for a rideCash is the item on a balance sheet that most investors accept without argument. Revenue can be recognised early, inventory can be overvalu...
- NCLT rejects Authum's plan for Vas Infra over CIRP issueThe NCLT rejected Authum Investment's plan for Vas Infrastructure due to irregularities. The tribunal found misrepresentation of assets and...
- SC says insolvency shield cannot protect real estate promoters from homebuyers' casesThe Supreme Court ruled promoters and directors cannot use insolvency moratorium against homebuyers. This decision provides significant rel...
- NCLT has jurisdiction to adjudicate disputes solely relating to insolvency of corporate debtor: Supreme CourtA bench of Justices DY Chandrachud and M R Shah said, "Therefore, considering the text of Section 60(5)(c) (of IBC) and the interpretation ...
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