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FRESH INSOLVENCY PROCEEDINGS
Lenskart block deal; Meesho's kirana pushLenskart has drawn fresh interest from major institutional investors. This and more in today's ETtech Top 5.- JP Power shares surge 28% in 2 days, Adani Power hits fresh 52-week high amid optimism around stake acquisitionJaiprakash Power Ventures shares surged on Friday, extending their two-day rally to 28%, amid strong investor optimism surrounding Adani Po...
- From $22 billion to zero: Success, not failure, brought Byju downByju's, once a $22 billion edtech giant, has collapsed. Founder Byju Raveendran faces jail for contempt. The company's downfall stems from ...
- Dalmia Bharat seals Rs 2,850 crore deal for JAL cement assets after Adani insolvency takeoverDalmia Cement has acquired key cement assets from Jaiprakash Associates for ₹2,850 crore. This deal, facilitated by the Adani Group's insol...
- IBBI issues new guidelines to speed up appointment of insolvency professionalsThe Insolvency and Bankruptcy Board of India has released new rules for insolvency professionals. These guidelines aim to speed up appointm...
- Lavasa homebuyers file plea at NCLAT against resolutionHomebuyers of Lavasa, India's first privately built hill town, have filed a fresh appeal. They allege serious flaws in the resolution plan ...
- 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...
- 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...
- Mahagun Group raises Rs 225 crore from CSL Finance LimitedMahagun Group has secured Rs 225 crore funding from CSL Finance Limited. This capital infusion will accelerate project execution and ensure...
- On hold: Plan to bring in cross-border, individual insolvency frameworksThe government has delayed plans to introduce cross-border insolvency and an out-of-court individual delinquency mechanism. These provision...
- SC reserves verdict on plea against NCLAT order stopping insolvency proceedings against Byju'sThe bench, also comprising Justices JB Pardiwala and Manoj Misra, considered the plea of US firm Glas Trust Company LLC and asked the IRP n...
- 200 insolvency applications filed since suspension of fresh proceedings ended in MarchTalking about fresh insolvency filings after the expiry of the suspension, IBBI Chairperson M S Sahoo said the higher threshold of default ...
- Normalcy restored for resolution of stress under IBC: IBBI Chairperson MS SahooCertain provisions under the Code, which provides for time-bound and market-linked resolution of stressed assets, were suspended with effec...
- IBBI will strive for 'malleable regulatory framework' within confines of insolvency law: MS SahooThe Insolvency and Bankruptcy Board of India (IBBI) has adapted itself to the new environment in the wake of the coronavirus pandemic and w...
- Recovery from bankruptcy courts could fall by a third in FY21: ICRAThe suspension on new proceedings under India’s bankruptcy law and the lockdown caused due to the pandemic could lead to a sharp fall in re...
- 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...
- Rajya Sabha passes amendment in Insolvency and Bankruptcy CodeReplying to a debate on the Bill in the House, Finance Minister Nirmala Sitharaman said the intention of the IBC is to keep companies a "go...
- IBC suspension leaves door open for fraud: ExpertsAs per the ordinance issued on Friday, proceedings under the Insolvency and Bankruptcy Code can never ‘ever’ be filed for defaults occurrin...
- Cabinet okays ordinance to amend insolvency law; defaults due to COVID out of IBC ambitPayment defaults from March 25 -- the day when the nationwide lockdown to curb coronavirus infections began -- would not be considered for ...
- Resolution through bankruptcy courts to contract by 30-40 per cent: ReportIn the current fiscal, successful resolution of a large housing finance company is going to be the key determinant of the extent of amount ...
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