Power companies undergoing insolvency proceedings to receive funds for importing coal
Given the unprecedented power crisis and coal shortage, the government has directed the state-owned power finance companies -- Power Finance...
Year: 2022
Karnataka Bank reports loan given to SREI Equipment Finance as fraud
Karnataka Bank has reported to the Reserve Bank of India (RBI) regarding fraud in the credit facilities extended earlier to...
“Don’t shy away from liquidating ineffective companies”
An effective insolvency legislation should not shy away from liquidating ventures, M Rajeshwar Rao, deputy governor of Reserve Bank of...
Birla Tyres in insolvency court after failing to pay Rs 16 crore to vendor SRF Ltd
Birla Tyres, a part of the famous BK Birla Group of Companies and Kesoram Industries Ltd, will now face insolvency...
CBI arrests insolvency professional for demanding bribe from Pune realtor
The Central Bureau of Investigation has arrested insolvency professional -- Subrata Maity -- and two private persons including proprietor of...
Proposal to allow use of GSTR-1, GSTR-3B by vendors to establish debt, default
Keeping in view of the delay in admission or rejection of insolvency petition due to the requirement of establishing the...
Unpaid salary lands Zoom Air in trouble; insolvency proceedings initiated
Regional airlines Zexus Air Service Pvt Ltd, which runs an airlines service by the name of Zoom Air, has gone...
54 firms submit EoI for acquiring Reliance Capital; Tatas, Adanis among bidders
Reliance Capital, which is undergoing Corporate Insolvency Resolution Process, has received 54 expressions of interest (EoIs) from some of the big...
Creditors take Reliance Infra, Reliance Power to insolvency court a day after exit of Anil Ambani
Three Anil Ambani group companies – Reliance Infrastructure, Reliance Power and Reliance Natural Resources Limited (RNRL) – have been dragged...
IBC is key to bolstering start-up ecosystem in India
The Insolvency and Bankruptcy Code (IBC) has been key in releasing entrepreneurship from honest business failures, which is important as...