WeWork files for Chapter 11 bankruptcy protection in US; India operations unaffected, says CEO Virwani
On 7 November 2023, WeWork filed for Chapter 11 bankruptcy protection in the United States. This came after years of...
Year: 2023
Homebuyers may get possession of flats/plots during insolvency process of real estate firm
The Insolvency and Bankruptcy Board of India (IBBI) has proposed an array of changes to make corporate insolvency resolution process...
Jaiprakash Associates defaults on payment of Rs 4,258 crore loan
Jaiprakash Associates Ltd (JAL), the flagship company of the crisis-hit Jaypee Group, has defaulted on loans amounting to Rs 4,258...
Delinquency in small-ticket personal loans grows by 120 bps in June quarter: TransUnion Cibil
India’s retail credit market continued to show sustained growth during Q2 2023, with consumption-led demand driving the need for credit....
Right of payment to dissenting FCs holding security interest
The cases of: (a) Small Industries Development Bank of India v. Vivek Raheja & Others (Vivek Raheja); (b) Union Bank...
NCLT rejects insolvency petition against Dilip Buildcon
The Indore Bench of the National Company Law Tribunal (NCLT) has rejected an insolvency application filed against Bhopal-based EPC firm...
Taking stock of pre-pack insolvency cases so far
Pre-pack insolvency was notified in April 2021, and since then only eight applications have been filed to initiate pre-pack insolvency,...
Debt recovery agents vs litigation financing: Evaluating their effectiveness in India
In the complex world of financial services, debt recovery is a crucial challenge for banks and institutions. Two main solutions...
NCLT approves IOCL’s Rs 148-crore resolution plan for Mercator Petroleum
The Mumbai bench of the National Company Law Tribunal (NCLT) has approved the Rs 148-crore resolution plan by government-owned Indian...
‘Jaypee Kensington judgement is not in consonance with principles of IBC’
While the Supreme Court in Jaypee Kensington Boulevard Apartments Welfare Association & Others v. NBCC (India) Ltd. & Others (Jaypee...