NCLT allows Go First to use aircrafts; denies lessors access to planes for maintenance
The New Delhi bench of NCLT has allowed Go First to fly the aircrafts it procured by leasing. The NCLT...
Year: 2023
2nd round of e-auction for sale of Punj Lloyd as going concern on 28 Aug
The liquidator of Punj Lloyd Ltd -- Ashwini Mehra – will hold the second round of e-auction on 28 August...
Treatment of pledged shares as security under IBC
Pledging of shares is a common practice among creditors to secure a loan. In case of pledged shares, the pledgor...
Banks recovered Rs 7.15 lakh crore bad debts in five years: Govt
The government has again reassured parliament that banks are taking every step to recover written-off loans. Responding to a parliament...
NARCL acquires Rs 21,350-cr debt of three entities: Govt
The government has informed parliament that the National Asset Reconstruction Company Limited (NARCL) had acquired three borrower entities -- Jaypee...
Significance of SC verdict in State Tax officers vs Rainbow Papers
The recent Supreme Court order in Paschimanchal Vidyut Vitran Nigam Ltd. v. Raman Ispat Private Limited & Ors has brought back the...
Company insolvencies in UK up 27% in June; individual bankruptcies up 29%
The number of registered company insolvencies in UK in June 2023 was 2,163, 27% higher than in the same month...
Rs 1,814-crore resolution plan for Lavasa Corporation gets NCLT approval
The Mumbai bench of NCLT has approved the Rs 1,814-crore resolution plan submitted by Darwin Platform Infrastructure (DPIL) for Lavasa...
DGCA accepts flight resumption plan of Go First, but with some conditions
The Directorate General of Civil Aviation (DGCA) has accepted Go First's flight resumption plan, but with some conditions. The airline...
Stakeholders discuss challenges in resolution of real estate companies
Non-acceptance or part acceptance of claims, multiple litigation or non-cooperation by suspended directors, litigation by government agencies, and delay in...