Bankruptcy proceedings against personal guarantor can be initiated irrespective of country of residence
The National Company Law Appellate Tribunal (NCLAT) has in a recent order said that a personal guarantor, whether he resides...
Month: August 2022
SC reins in Customs department yet again; this time in ABG Shipyard CIRP case
The Supreme Court in its order on 26 August 2022 held that the Insolvency and Bankruptcy Code would prevail over...
Reliance Capital insolvency resolution period extended by 60 days
The Mumbai bench of the National Company Law Tribunal has extended the corporate Insolvency Resolution Process (CIRP) period Reliance Capital...
Non-availability of interim finance a big impediment in success of CIRP: IBBI chairperson
Insolvency and Bankruptcy Board of India (IBBI) chairman Ravi Mittal has highlighted the difficulty companies undergoing corporate insolvency resolution process...
Financial creditors recover only 31% of admitted claims in over 500 resolved insolvency cases
The Insolvency and Bankruptcy Code, despite its many benefits, has not been able to live up to the expectations as...
Financial creditors of Future Retail submits over Rs 21,000 crore claims
Financial creditors of Future Retail Ltd have submitted claims of ₹21,058 crore under the ongoing corporate insolvency resolution process (CIRP). As...
Why some RBI economists feel PSBs are more cost-efficient than private banks
Economists from the Reserve Bank of India (RBI) believes public sector banks’ (PSBs’) labour cost efficiency remained higher than PVBs...
Five bidders in fray for Viceroy Hotels
The resolution professional handling the Corporate Insolvency Resolution Process (CIRP) of the Hyderabad-based Viceroy Hotels has received five resolution plans...
Rights of operational creditors to seek judicial review of resolution plan before NCLT
By Pallavi Parmar The IBC Code has provided with different sets of creditors – while financial creditors are to predominantly...
Singapore govt extends Simplified Insolvency Programme by 18 months
The Singapore government has extended the application period for the Simplified Insolvency Programme (SIP) by 18 months, to end on 28...