Topworth promoters named in another fraud
Public sector bank -- Indian Bank – has informed the exchanges that it has declared as fraud an NPA account...
Year: 2022
IPs who claw back maximum value lost in fraudulent transactions should get a premium in the market
Former chairperson of Insolvency and Bankruptcy Board of India (IBBI) MS Sahoo feels that an insolvency professional who claws back...
NCLT allows concessions to Sterling Biotech bidder
The adjudicating authorities have agreed to the request of Perfect Day Inc, the US-based animal-free dairy product manufacturer, for certain...
Consumer bankruptcies in US increase 27% in October
Consumer bankruptcies (chapter 13 filings) in the US increased 27% to 13,627 in October 2022 from the 10,767 filings in...
Piramal group withdraws insolvency application against Reliance Power
Piramal Capital and Housing Finance Limited has withdrawn the insolvency application made against Reliance Power Limited and one of its...
Bilcare Ltd to undergo insolvency resolution process after NCLT allows ARCIL petition
The Mumbai bench of the National Company Law Tribunal (NCLT) has allowed the initiation of Corporate Insolvency Resolution Process (CIRP)...
Reliance Retail among 13 bidders vying for Future Retail business
As many as 13 suitors including Reliance Retail Ventures Ltd have bid for Future Retail Ltd, the Kishore Biyani-promoted retail...
Existing shareholders may get a pie of stake in the new entity post-CIRP
The Securities and Exchange Board of India (Sebi) has proposed that existing public equity shareholders of a corporate debtor should...
SC approves resolution plan of ArcelorMittal for Odisha Slurry Pipeline Infrastructure
In a significant victory for the ArcelorMittal Group, the Supreme Court of India on 10 November 2022 approved the resolution...
Insolvency regulator revokes a dozen circulars
The Insolvency and Bankruptcy Board conducted an exercise of review of regulations, circulars based on experience gained. It is observed...