Home buyers without allotment letter will be treated as financial creditor: NCLT
Home buyers in a real estate project under insolvency will be treated as 'Only Financial Creditor' if they have not...
Month: August 2020
NCLAT rejects ex-promoter’s appeal against resolution order of Empee Distilleries
The National Company Law Appellate Tribunal (NCLAT) has rejected an appeal against the National Company Law Tribunal’s (NCLT’s) nod to...
Delhi HC stays personal insolvency proceeding against Anil Ambani
The Delhi High Court has stayed personal insolvency proceedings against Anil Ambani started by State Bank of India. The two-judge...
IBBI proposes new measures to make liquidation process faster
The Insolvency and Bankruptcy Board of India (IBBI) has finally shifted its focus to the much ignored area of unending...
NCLT nod for withdrawal of insolvency proceeding against Aspen Bio Pharma
The National Company Law Tribunal (NCLT) has given its approval to withdraw corporate insolvency resolution process (CIRP) against Hyderabad-based pharma...
Security trustees of pledged shares are not financial creditor under IBC: NCLAT
The National Company Appellate Tribunal (NCLAT) has dismissed a plea seeking to make the security trustee holding pledged shares of...
PNB receives $3.25 mn from liquidation of Nirav Modi-owned Cos in US
Punjab National Bank (PNB) has received Rs 24.33 crore ($3.25 million) as proceeds from the liquidation of Nirav Modi-owned companies...
Bank loan frauds jump three times to Rs 1.82 lakh crore in 2019-20
Bank loan frauds have seen sharp jump in 2019-20 as the latest annual report (2019-20) of the Reserve Bank of...
IBBI hands 3-month ban to insolvency professional for appointing unregistered valuer
Jaipur-based insolvency professional Rajneesh Singhvi lands in trouble for hiring an unregistered valuer. The Insolvency and Bankruptcy Board of India...
In further jolt to Era Infra insolvency case, ED freezes Co’s Axis Bank account
In what could further delay the Era Infra Engineering insolvency case, the Enforcement Directorate (ED) has attached movable asset worth...