Resolutions under IBC may touch 300 in FY24; ecosystem needs to be prepared to deal with 1,000: MCA secy
The number of resolutions of stressed assets under the insolvency law is expected to reach 300 this financial year, after...
Year: 2023
Look-out-circular cannot be issued in each loan default case: Delhi HC
The Delhi High Court has said that issuance of Look-out-circular (LoC) cannot be resorted to in each and every case...
Ex-CEO’s insolvency petition against eSmart Energy Solutions gets rejected
In an intriguing case, the former CEO of a company files an insolvency petition against the company citing non-payment of...
Jalan-Kalrock Consortium completes Rs 350-cr infusion; fulfils condition to take control of Jet Airways
The new owners of Jet Airways, Jalan-Kalrock Consortium (JKC), has completed an additional payment of Rs 100 crore, bringing their...
NCLT approves Rs 79-crore resolution plan for Leela Trade Steel and Commodities
Ritzee-Pritesh Mehta JV, a Joint Venture of Pritesh Futarmalji Mehta and Ritzee Recycling Private Limited, has successfully bid for Pune-based...
Meeting of creditors to be made mandatory in personal guarantors insolvency cases
The Insolvency and Bankruptcy Board of India (IBBI) is considering an amendment to the Insolvency and Bankruptcy Code, 2016 (IBC)...
NCLT approves Rs 256-crore resolution plan for Action Ispat and Power
The New Delhi bench of the NCLT has approved the Rs 256-crore resolution plan of Ocean Capital Market Ltd for...
Resolution professional of corporate debtor can also get appointed as RP in case of personal guarantors
The insolvency regulator has proposed that Interim Resolution professional (IRP), resolution professional (RP) or liquidator of a corporate debtor (CD)...
Banks to display borrowers’ name whose assets taken into possession under SARFAESI Act
As a part of the move towards greater transparency, the Reserve Bank of India (RBI) has asked lenders, which are...
Lenders to seek extension of Rolta India CIRP period by 60 days
The resolution professional of Rolta India will ask for a 60-day extension of the corporate insolvency resolution process. The Committee...