SC upholds minimum homebuyers threshold for filing insolvency petition against real estate projects
Homebuyers have lost an important legal battle against the imposition of threshold of a minimum number of allottees for initiation...
Month: January 2021
Chandan Mitra-owned newspaper The Pioneer faces insolvency threat
CMYK Printech Limited, the company that brings out one of the oldest running English newspaper -- The Pioneer, is facing...
NCLAT foils attempt by Supertech to withhold information from homebuyers
An attempt by realtor Supertech Township Projects Ltd to stonewall homebuyers from seeking information about allottees has been thwarted by...
UK company insolvencies rise 9% in December 2020; individual insolvencies declines
In December 2020, UK company insolvencies for the first time were higher than the comparable month in 2019 since the...
Piramal Group wins the bid for DHFL
The Committee of Creditors (CoC) has approved the Piramal Group's resolution plan for Dewan Housing Finance Corporation Ltd (DHFL), which...
ICAI planning to use AI to identify the non-compliances in financial statements
The Institute of Chartered Accountants of India (ICAI) through its Financial Review Reporting Board (FRRB) is planning to use Artificial...
IPAs should now have a compliance officer; publish self-evaluation report
The insolvency regulator – Insolvency and Bankruptcy Board of India (IBBI) -- now requires the insolvency professional agencies (IPAs) to...
CoC can reject any number of resolution plans, if it does not find them viable
No matter how many resolution plans have been submitted in a corporate insolvency resolution process (CIRP), if the Committee of...
Despite repeated reminders Talwalkars fails to appear for insolvency hearings in NCLT
Despite the sword of bankruptcy hanging over Talwalkars Better Value Fitness Ltd, the company that owns a chain of gym...
Business insolvencies in Germany down 31.9% from October 2019
In October 2020, local courts in Germany reported 1,084 business insolvencies. The Federal Statistical Office (Destatis) reports that this was...