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)...
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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)...
Kishore Biyani moves HC against BDO forensic audit of Future Retail
Erstwhile promoter of Future Retail Kishore Biyani has filed a writ petition before Bombay High Court challenging the Forensic Audit...
Changes in RBI’s new Master Direction for wilful defaulters
The Reserve Bank of India (RBI) has released a revised draft Master Direction for Treatment of Wilful Defaulters. The draft...
NCLT approves Zaveri & Co’s Rs 135-crore resolution plan for Gujarat Hydrocarbons and Power SEZ
Ahmedabad-based jewellery retail chain company Zaveri & Co Private Limited has got the NCLT nod to acquire insolvent Gujarat Hydrocarbons...
IBBI simplifies enrolment, registration process of insolvency professionals
The Insolvency and Bankruptcy Board India (IBBI) has notified new regulations to simplify the enrolment and registration process for insolvency...
NCLT orders liquidation of Overnite Express; rejects resolution plan by ex-promoters
The National Company Law Tribunal (NCLT) has ordered liquidation of Overnite Express, a courier company, after the adjudicating authority thwarted...
Dhanlaxmi Bank director resigns; raises serious governance issues
Independent Director Sridhar Kalyanasundaram has resigned from the board of Dhanlaxmi Bank, alleging unethical conduct and irregularities by the bank's...
Commercial Chapter 11 bankruptcies in US up 54% in August
There were 634 commercial chapter 11 filings registered in August 2023, an increase of 54% the 411 filings registered in...