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...
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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...
NPA or default no longer only bank’s problem post-IBC: IBBI Chairman
The biggest change the Insolvency and Bankruptcy Board of India (IBBI) has brought in the system is that NPA or...
Insolvency professional Partha Sarthy Sarkar suspended for two years
The Insolvency and Bankruptcy Board of India (IBBI) has suspended the registration of insolvency professional Partha Sarathy Sarkar for two...
NCLT approves resolution plan submitted by Kirloskar Ferrous Industries for Oliver Engineering
Kirloskar Ferrous Industries Limited (KFIL), one of the leading castings and pig iron manufacturers in India, has won the bid for...
Coffee Day Global settles IndusInd dues; insolvency proceedings suspended
The corporate insolvency resolution process (CIRP) of Coffee Day Global Limited, a material subsidiary of Coffee Day Enterprises, has been...
Litigation funder LegalPay closes Rs 12-crore interim financing bond
LegalPay, a litigation finance provider, has announced the successful closure of its Rs 12 crore Interim Financing Bonds. This innovative investment...
Commonly used IBC terms and jargons you should know
Insolvency and Bankruptcy Code is a relatively new law, and many of you, who regularly read our reports on insolvency...
Goli Vada Pav to face insolvency proceedings after defaulting on Rs3.56 crore dues
Goli Vada Pav, the Mumbai-based fast food chain, will undergo corporate insolvency resolution process after the NCLT admitted an insolvency...