SC upholds minimum homebuyers threshold for filing insolvency petition against real estate projects
Homebuyers have lost an important legal battle against the imposition of threshold of a minimum number of allottees for initiation...
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NCLAT foils attempt by Supertech to withhold information from homebuyers
An attempt by realtor Supertech Township Projects Ltd to stonewall homebuyers from seeking information about allottees has been thwarted by...
Piramal Group wins the bid for DHFL
The Committee of Creditors (CoC) has approved the Piramal Group's resolution plan for Dewan Housing Finance Corporation Ltd (DHFL), which...
IPAs should now have a compliance officer; publish self-evaluation report
The insolvency regulator – Insolvency and Bankruptcy Board of India (IBBI) -- now requires the insolvency professional agencies (IPAs) to...
CoC can reject any number of resolution plans, if it does not find them viable
No matter how many resolution plans have been submitted in a corporate insolvency resolution process (CIRP), if the Committee of...
Despite repeated reminders Talwalkars fails to appear for insolvency hearings in NCLT
Despite the sword of bankruptcy hanging over Talwalkars Better Value Fitness Ltd, the company that owns a chain of gym...
Homebuyers’ fate hangs in balance as no bidders show interest in HDIL
Thousand of homebuyers’ fate hangs in balance as Housing Development and Infrastructure Limited (HDIL), the Mumbai-based infrastructure company, has not...
RBI report suggests gross NPAs of banks may double to 14.8% by Sept 2021
Macroeconomic stress test by the Reserve Bank of India (EBI) suggests that the Scheduled Commercial Banks’ Gross NPAs may increase...
Resolution professionals have a limited yet crucial role in pre-pack scheme
The role of a resolution professional (RP) in the new pre-pack scheme has been limited to that of an overseer...
New pre-pack framework allows promoters to keep control of CD; stipulates a shorter timeline
And the much-awaited pre-pack scheme is here. The government-constituted sub-committee of Insolvency Law Committee has finally drafted the pre-pack framework,...