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Subhash Chandra's dissenting lenders Canara Bank, Union Bank move NCLAT against NCLT orderDissenting lenders have challenged the NCLT order approving Subhash Chandra's personal insolvency plan. The Essel Group chairman's plan pro...- 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...
- 'Not haircut but mundan': Congress on NCLT clearing Subhash Chandra's Rs 6.5 crore payoutThe NCLT has given the green light for Subhash Chandra's settlement of Rs 6.5 crore against outstanding dues of Rs 22,006 crore. This drast...
- Rs 22,006 crore claims, Rs 6.5 crore payout: NCLT clears Subhash Chandra planThe insolvency tribunal NCLT approved Subhash Chandra's repayment plan. Lenders will receive only Rs 6.5 crore against Rs 22,006.57 crore c...
- 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...
- Gratuity, leave encashment not part of CIRP cost: NCLATThe NCLAT dismissed an appeal regarding priority payment of gratuity dues. It upheld an earlier NCLT order concerning Duncans Industries' f...
- ETMarkets Management Talk | We want to grow 20% annually without taking on debt: Bansal Wire's Pranav BansalBansal Wire Industries is focusing on operational efficiency and cash generation for growth. The company targets twenty percent annual grow...
- Bankruptcy Court admits Oban Fashions under insolvency resolutionOban Fashions Pvt Ltd, a subsidiary of Rupa & Co Ltd, has been admitted under the Corporate Insolvency Resolution Process by the Mumbai ban...
- AIFs want to know extent of exclusion for equity play nowOn Wednesday, the Reserve Bank of India (RBI) allowed banks and NBFCs to exclude AIF investments in equity shares of their debtor companies...
- NCLT directs to initiate insolvency proceedings against Imperia Structures, appoints IRP"The petition establishes that the corporate debtor is in default of a debt due and payable and that the default is for an amount which is ...
- NCLT dismisses plea seeking insolvency proceedings against Religare EnterprisesLigare Aviation has approached NCLT against Religare Enterprises, which is a corporate guarantor of the principal borrower Auriga Marketing...
- Has suspension of IBC proceedings achieved its desired goal?When the suspension was proposed in June 2020, no one expected that the pandemic would last for such a long period, and therefore a one yea...
- Government extends suspension of fresh insolvency proceedings for three monthsThe ministry of corporate affairs, which notified the extension on Thursday, had received extensive representation from the industry seekin...
- Getting your dues: Procedure for creditors to file under IBCThe recent Insolvency and Bankruptcy Code (IBC) has been a big sigh of relief for MSMEs which would, ensure faster debt recovery or liquida...
- Homebuyers, MSMEs may get IBC reliefThe ordinance will make homebuyers financial creditors as the amounts raised from them under a real estate project would count as commercia...
- View: Resolution plans under IBC should adhere to principles of natural justiceIf the debtor company or its directors fail to avail the opportunity for submission of resolution plan, the creditors will be free to offer...
- IBC panel eases insolvency rules for MSME owners, treat home buyers as creditorsThe committee proposed that promoters of MSMEs who are not wilful defaulters should be allowed to bid during the insolvency process.
- Faster insolvency process in place for startups, small companiesApart from startups and small companies, an unlisted firm with total assets worth up to Rs 1 crore would be eligible for fast-track insolve...
- The how, why & what about Business GuaranteesA Guarantee is a promise to pay another person's debt or fulfill his or her contractual obligation, if that other person fails to perform h...
- Before you turn a loan guarantor understand the financial liabilities you will incurIt is important to understand the financial liabilities you will incur since you may have to pay the dues if the borrower were to default.
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