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VOLUNTARY INSOLVENCY RESOLUTION
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...- Cos can look at voluntary insolvency process to increase productivity, maximise value: IBBI chiefIBBI Chief Ravi Mital highlights the need for companies in India to utilize the insolvency law more effectively, encouraging voluntary inso...
- NCLT admits Yashraj Containeurs’ voluntary insolvency resolution applicationYashraj Containeurs Ltd has been admitted for voluntary corporate insolvency resolution. Manish Motilal Jaju is appointed as the interim re...
- IBBI amends norms related to insolvency resolution process for personal guarantorsIBBI has made amendments to the insolvency resolution process for personal guarantors and voluntary liquidation process. The changes remove...
- NCLT gives nod to a 90-day extension for completion of the Go First insolvency processThe National Company Law Tribunal has allowed Go First's resolution professional to extend the resolution timeline by 90 days until Februar...
- Voluntary insolvency sees faster resolution, but lower recoveryThe average time taken to resolve a stressed company under the Insolvency and Bankruptcy Code (IBC) was 632 days as of June 2023, way above...
- Settlement talks between Go First and Delhivery, NCLT issues noticeThe settlement talks between Delhivery and Go First have failed, the counsels for both parties informed the National Company Law Tribunal o...
- Delhi HC allows Go First lessors to access aircraft for inspection, carry out maintenanceAn Indian court on Wednesday allowed leasing companies to access aircraft leased to Go First for inspection and maintenance, though they we...
- NCLT accepts Delhivery notice citing Go First's insolvency as 'fraudulent'In its plea, Delhivery had alleged Go First's insolvency process as a sham and said the airline took payments of Rs 57 lakh from Delhivery ...
- DGCA directs Go First to submit revival plan in 30 daysAviation regulator DGCA on Thursday granted 30 days to cash-strapped airline Go First in order to submit a comprehensive plan for the reviv...
- DGCA to conduct audit of airline's preparedness before flight resumption: Go First tells staffAviation regulator DGCA will conduct an audit of Go First's preparedness before approving the resumption of flights, the crisis-hit airline...
- DGCA to conduct audit of Go First's preparedness before flight resumption nodOn Tuesday, a senior official at the Directorate General of Civil Aviation (DGCA) said the airline has submitted its response to the regula...
- 'Go First working on plan to resume flights at the earliest'The carrier is undergoing insolvency resolution proceedings following admission of its voluntary plea by the National Company Law Tribunal ...
- Go First CEO says NCLT order is landmark, historicGo First CEO Kaushik Khona described the NCLT's decision to admit the airline's plea for voluntary insolvency resolution proceedings as a "...
- Aircraft lessors approach DGCA to deregister 45 Go First Airways planesAircraft lessors on Tuesday approached aviation regulator DGCA to deregister 45 Go First Airways planes. The airlines have a total strength...
- Go First: Scindia says 'prudent to wait for judicial process to run its course'India's Go First has cancelled flights for May 3 and 4 due to supply chain issues with its engines. The country's civil aviation minister s...
- Nirmala Sitharaman proposes faster resolution of bankrupt companies“Necessary amendments in the Code will be carried out to enhance the efficacy of the resolution process and facilitate cross border insolve...
- Think global, act local – Budget introduces cross-border insolvency and accelerates voluntary liquidationThe theme for reforms in insolvency code is that of glocalization. Adoption of cross-border insolvency framework based on UNCITRAL model la...
- Debt transfer won’t curb creditor rightsFortune Pharma had filed an application for initiating Voluntary Insolvency Resolution Process.
- Window closes today for submitting comments on Voluntary Liquidation regulationsThe Ministry of Corporate Affairs had set-up four working groups of experts and practitioners to facilitate implementation of the Insolvenc...
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