Resolutions under IBC may touch 300 in FY24; ecosystem needs to be prepared to deal with 1,000: MCA secy
The number of resolutions of stressed assets under the insolvency law is expected to reach 300 this financial year, after...
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Jalan-Kalrock Consortium completes Rs 350-cr infusion; fulfils condition to take control of Jet Airways
The new owners of Jet Airways, Jalan-Kalrock Consortium (JKC), has completed an additional payment of Rs 100 crore, bringing their...
Lenders to seek extension of Rolta India CIRP period by 60 days
The resolution professional of Rolta India will ask for a 60-day extension of the corporate insolvency resolution process. The Committee...
IBBI notifies key amendments to insolvency laws
The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for...
NCLAT stays insolvency proceedings against Chandigarh-based Ind Swift
Chandigarh-based pharma company Ind Swift Ltd got a major relief after the National Company Law Appellate Tribunal (NCLAT) stayed the...
Resolution plan can terminate related party contracts: NCLT
A recent NCLT ruling has clarified that the successful resolution applicant (SRA) in a corporate insolvency resolution process has the...
Delay in filing appeal under Section 42 of IBC can’t be condoned Suo Moto
Saurabh Gandhi Section 42 of the IBC states that a creditor may appeal to the Adjudicating Authority against the decision...
EoI invited from prospective bidders of UNI; 31 Aug last date for submission
Resolution Professional Pooja Bahry has invited Expressions of Interest (EOI) from prospective resolution applicants to submit Resolution Plans for United...
2nd round of e-auction for sale of Punj Lloyd as going concern on 28 Aug
The liquidator of Punj Lloyd Ltd -- Ashwini Mehra – will hold the second round of e-auction on 28 August...
Treatment of pledged shares as security under IBC
Pledging of shares is a common practice among creditors to secure a loan. In case of pledged shares, the pledgor...