Summary of changes proposed in insolvency laws
To strengthen the functioning of the IBC, changes to the Code are being considered in relation to the admission of...
Main Story
CIRP can be reinstated during liquidation process if market conditions for corporate debtor improves: IBBI
In another ‘big’ change proposed in the consultation paper floated by the Insolvency and Bankruptcy Board of India (IBBI), it...
Rethinking the Fast-Track Insolvency Resolution Process
The Insolvency and Bankruptcy Board of India (IBBI) has proposed changes in the Fast-Track Corporate Insolvency Resolution Process (FIRP) in...
“Separate the process of approval of resolution plan and distribution of proceeds”
In order to avoid wastage of time due to objections about the distribution of proceeds raised when the resolution plan...
Proposal to allow insolvency process only against defaulting real estate projects, not entire company
In a big change proposed in the insolvency cases related to real estate companies, the insolvency regulator of the country...
Vedanta bid for Meenakshi Energy gets CoC nod
The resolution plan submitted by Vedanta Ltd has been approved by the committee of creditors (CoC) of Nellore, Andhra Pradesh-based...
Gayatri Projects invites EoIs from prospective bidders; 29 Jan last date for submitting EoIs
Gayatri Projects, which is undergoing Corporate Insolvency Resolution process (CIRP), has invited Expression of Interest (EoI) from prospective bidders. The...
Avoidance transaction proceedings can go on even after CIRP is over: Supreme Court
In a landmark judgement, a two-judge bench of the Supreme Court has said that adjudication of an avoidance transaction application...
Doubts lenders of Jet Airways have about Kalrock consortium’s revival plans
The implementation of resolution plan for Jet Airways was being delayed by the Monitoring Committee, which comprises lenders and the...
Why NCLT allowed new promoters take control of Jet Airways despite objections
Brushing aside doubts of Monitoring Committee and financial creditors, the Mumbai bench of the National Company Law Tribunal (NCLT) has...