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...
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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...
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...