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...
No TDS on capital gains from sale of company assets under liquidation: NCLAT
Should a buyer of asset under liquidation deduct 1% TDS on the capital gains as per Income Tax Act? The...
ED attaches Rs 34-cr property of Mumbai-based builder in HDIL bank fraud case
Directorate of Enforcement (ED) has issued a provisional order for attachment of assets worth Rs 34.36 crore of Viva Holding...
Singapore unveils Simplified Insolvency Programme for micro, small companies
Singapore micro and small companies (MSCs), which have been severely impacted by COVID-19 and require support to restructure their debts to...
‘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...
US bankruptcy filings in January drops to a 15-yr low
US bankruptcy filings in January experienced the lowest monthly number of across all chapters since February 2006 (26,617 filings) with...
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...
Only 5% of mid and emerging cos opted for RBI’s restructuring facility: India Ratings
Have various government measures and faster demand recovery in the domestic market saved companies from much expected financial distress? Unexpectedly...
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...