SC thwarts ex-CEO from initiating insolvency proceedings against Siemens Gamesa
The Supreme Court has thwarted the last ditch attempt of former chief executive officer Ramesh Kymal to initiate insolvency proceedings...
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‘Creditor’ snubbed for filing unnecessary insolvency application against ONGC arm
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has pulled up a contractor for unnecessarily filing insolvency application...
Having security interest over corporate debtor’s asset alone does not qualify one as financial creditor: SC
The Supreme Court of India has once again reiterated that a person having only security interest over the assets of...
ED attaches Rs 14.45 cr assets of Mehul Chowksi, Gitanjali Group in PNB loan fraud case
The Enforcement Directorate (ED) has issued a provisional attachment order attaching assets worth Rs 14.45 crores of Gitanjali Group of...
Financial creditors cease to be related party to avoid exclusion should also be barred from CoC: SC
In a landmark judgment on 1 February 2021, the Supreme Court of India in Phoenix ARC Vs Spade Financial Services...
83% of default cases getting resolved before going into CIRP: Economic Survey
The Insolvency and Bankruptcy Code (IBC) has brought about significant behavioural changes among the creditors and debtors thereby redefining debtor-creditor...
Relaxed regulations resulted in higher lending to firms with poor fundamentals: Economic Survey Report
Regulatory forbearance has resulted in increased lending to firms with poor fundamentals and higher lending to inefficient projects, says the...
UK court orders winding up of retail giant Debenhams
A UK court has passed a winding up order against Debenhams PLC on 25 January 2021 and appointed the official...
In first judgement, Chennai NCLAT saves liquidator from ignominy; asks NCLT to remove adverse remarks
In its first judgement, the Chennai bench of the National Company Law Appellate Tribunal (NCLAT) came to the rescue of...
Key takeaways from Supreme Court judgement upholding amendments in Section 7, 11 and 32A
The Insolvency and Bankruptcy Code (Amendment) Act, 2020, among others, inserted three provisos to section 7(1), an additional explanation tosection...