Credit Suisse asks CoC not to approve Reliance Capital resolution plan
Switzerland-based Credit Suisse has asked the Administrator in the Reliance Capital corporate insolvency resolution process (CIRP) to not proceed with...
Year: 2023
GoFirst Airlines owes Rs 6,521 crore to banks
GoFirst Airlines owes Rs 6,521 crore to its financial creditors, according to insolvency filings made by the airline in the...
East India Drums & Barrels Mfg to take over Precision Containeurs
The Mumbai bench of the NCLT has the resolution plan submitted by East India Drums & Barrels Mfg Pvt Ltd...
GoFirst files for insolvency; fate of 5k employees hangs in balance
In a major setback for India's aviation sector, low-cost carrier GoFirst has applied for voluntary corporate insolvency resolution proceedings under...
Creditors of Starlit Power Systems submit Rs 45 crore claims
The creditors of Starlit Power Systems Limited, which is under corporate insolvency resolution process, has submitted claims of Rs 45.28...
308 real estate projects in state undergoing CIRP: Maha RERA
The Maharashtra Real Estate Regulatory Authority (RERA) has released a list of 308 projects from around 60 real estate companies...
Individual insolvencies in UK shrink 9% in Q1 2023
There were 29,017 individual insolvencies registered in the UK in Q1 2023, which was 2% lower than the number of...
PUFE transactions under IBC
In this write-up, we explain the legal meaning of PUFE Transactions. PUFE stands for preferential, undervalued, fraudulent and extortionate (PUFE)...
What is Section 29A of IBC?
Section 29A: Persons not eligible to be resolution applicant. A person shall not be eligible to submit a resolution plan,...
Jet Airways revival in doubt after resignation of CEO designate
The CEO-designate of Jet Airways 2.0, Sanjiv Kapoor, has resigned, dealing a significant blow to the airline's revival efforts. Kapoor,...