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INSOLVENCY CODE VIOLATIONS
NCLT adjourns Bhushan Power & Steel insolvency case hearing to May 26The National Company Law Tribunal (NCLT) has postponed the Bhushan Power and Steel Limited (BPSL) insolvency case hearing to May 26, seekin...- IBC rules under review after scrapping of JSW Steel's BPSL acquisitionIndia is examining its insolvency rules after a Supreme Court ruling. The review focuses on adherence to processes and timelines by stakeho...
- SC issues notice to Centre on pleas challenging provisions of insolvency and bankruptcy code"The Impugned Provisions are inherently violative of the principle of natural justice and strike at the root of the right of livelihood, ri...
- Banks seek review of SC order tagging statutory creditors as 'Secured' onesIn its September 6 order, the top court ruled that any insolvency resolution plan, approved by the financial creditors by ignoring the stat...
- Centre looking at decriminalising some IBC offencesIn a discussion paper floated last week, the ministry of corporate affairs proposed to empower National Company Law Tribunals (NCLTs) and D...
- IBC may come up in Budget session for faster resolution, cross-border normsThe proposed legislative changes also include a code of conduct for the committee of creditors (CoC) that decides on insolvency resolution ...
- Insolvency Board proposes amends in liquidation process, increases transparencyThe proposed amendments include capping revisions on bids to two times, banning unsolicited bids and empowering the Committee of Creditors ...
- Delhi HC asks Govt, Finance Ministry and RBI to consider parity between IBC and Sarfaesi ActAccording to the Sarfaesi Act, asset reconstruction companies that take over stressed assets from lenders cannot infuse equity into an inso...
- Plea against Insolvency code ordinance; Delhi High Court seeks Centre's standA bench of Chief Justice D N Patel and Justice Prateek Jalan issued notice to the Ministry of Law and the Insolvency and Bankruptcy Board o...
- Rakesh Wadhwan, director of HDIL, loses appeal against initiating insolvency proceedingsIn August last year, Bank of India (BOI) approached the Mumbai bench of the NCLT claiming that HDIL had failed to repay its dues amounting ...
- IBBI proposes to limit cases with insolvency professionalsThe IBBI's discussion paper said that the processes under the Insolvency and Bankruptcy Code (IBC) require a unique combination of skill se...
- Home buyers file plea in SC challenging Insolvency & Bankruptcy Code amendment"The writ petition has been filed by 11 petitioners of 11 projects being constructed by Pioneer Urban Land & Infrastructure, Emaar MGF Land...
- NCLAT rejects Sebi plea against resolution plan of Assam CompanySebi had challenged the NCLT order of September 20, 2018, approving the resolution plan of Abu Dhabi-based BRS Ventures Investments for Ass...
- ArcelorMittal resolution plan violative of IB Code: Prashant Ruia to NCLATSenior advocate U K Chaudhary, representing Ruia, said that the proposal of ArcelorMittal India was in violation of IBC code as the proposa...
- Panel suggests higher threshold for NCLT casesThe tribunals currently hear violations involving fines of more than .`5 lakh. The decision on what the new limit should be has been left t...
- Billionaire seeks waiver to bid for India hotel Ivanka stayed inGolden Jubilee Hotels was pushed into insolvency proceedings earlier this year.
- Right to equality can be invoked if COC violates IBC: NCLT ChairmanKumar further said in case of any violation of enacted law by CoCs comes into notice in examining the business restructuring plan and propo...
- Insolvency law: IBBI notifies norms for complaint handlingThe Insolvency and Bankruptcy Board of India (IBBI), which is implementing the Code, has notified the regulations and will be applicable fo...
- Supreme Court restrains Amrapali group directors from leaving countryA bench headed by Chief Justice Dipak Misra issued notice to the company and sought its reply within two weeks on a plea filed by Amrapali ...
- Relief for 30,000 homebuyers: Supreme Court stays NCLT proceeding against JaypeeSC also issued notice to embattled firm and others on a plea filed by homebuyers who have not yet received possession of their dream flats ...
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