Go First lessors initiated parallel proceedings despite NCLAT directive to NCLT: IRP in Delhi HC
The Interim Resolution Professional (IRP) for Go First argued on 30 May 2023 that the airline's cash-strapped situation led its...
Month: May 2023
Amount involved in bank frauds halved to Rs 30,252 crore in FY23
The amount involved in bank frauds continue to fall significantly over the years, as FY23 saw 13,520 bank frauds involving...
Reliance Capital creditors decide ‘equitable’ treatment to lenders; plan payouts in proportion to dues
In a significant move, the Committee of Creditors (CoC) of Reliance Capital has voted to make payment to all the...
Employees union drags news agency UNI to insolvency court
Employees of United News of India (UNI) has dragged the news agency to NCLT, which on 19 May admitted the...
Jalan-Kalrock consortium gets 108 more days to infuse capital into Jet Airways
The Lenders and successful resolution applicant (SRA) should work in coordinated manner for revival of Jet Airways, so as to...
Company insolvencies in UK fall 15% in April
In April 2023, the registered company insolvencies in the UK totalled 1,685, showing a 15% decrease compared to the same...
DS Group acquires Viceroy Bangalore Hotels through insolvency process
The NCLT has approved the Rs 300-crore resolution plan by Gutkha manufacturer Dharampal Satyapal Limited (DS Group) for Viceroy Bangalore...
Four questions of law addressed by NCLAT in Go Air order
In upholding the 10th May 2023 order of the New Delhi bench of the NCLT, allowing admission of insolvency petition...
Voluntary Liquidation: A comprehensive analysis of wilful business closure
The culmination of business of a Body Corporate is by way of Liquidation or winding up its business operations, where...
NCLT nod to acquisition of National Steel & Agro Industries by JSW Group
The OP-Jindal led JSW group has made another acquisition through the Corporate Insolvency Resolution process (CIRP) as the National Company...