Authorized representative has to be from home state or UT of majority home buyers
Home buyers, who are stuck with real estate projects going through insolvency proceedings, will now have easier access and better...
Month: August 2020
How countries are shielding businesses from insolvency in times of Covid-19
Even as India’s central bank – Reserve Bank of India (RBI) – on today announced a slew of measures to...
New resolution plan offers additional credit, tenure extension, debt conversion facilities to corporate debtors
The separate resolution plan for corporate borrowers announced by the Reserve Bank of India (RBI) today will have steps like...
Banks can restructure loans of covid-hit MSMEs without asset downgrade
Existing loans to MSMEs facing stress due to Coronavirus-related restrictions could be restructured without a downgrade in the asset classification....
RBI moots new resolution plan for Corona-hit personal loan borrowers
The Reserve Bank of India (RBI) moots a separate resolution plan to deal with personal loan borrowers facing financial stress...
NCLT rejects plea to start insolvency proceeding against Network18 Media
The Mumbai Bench of the National Company Law Tribunal (NCLT) on 4 August rejected a petition to start insolvency proceedings...
Cos under voluntary liquidation can replace liquidator
The Insolvency and Bankruptcy Board of India (IBBI) has amended the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process)...
Important clarification on liquidators’ fee
The Insolvency and Bankruptcy Board of India (IBBI) has clarified that in case where a liquidator realizes any amount but...
In a first, NCLT allows sale of assets attached by ED
The Kolkata Bench of the National Company Law Tribunal (NCLT) has recently allowed the liquidator to sell Varrsana Ispat Limited’s...
Special insolvency framework for MSMEs seeks shorter timeline, more control to debtors
The government has sometimes back announced a special framework under the Insolvency and Bankruptcy Code (IBC) for MSME sector. The...