GoFirst files for insolvency; fate of 5k employees hangs in balance
In a major setback for India's aviation sector, low-cost carrier GoFirst has applied for voluntary corporate insolvency resolution proceedings under...
Creditors of Starlit Power Systems submit Rs 45 crore claims
The creditors of Starlit Power Systems Limited, which is under corporate insolvency resolution process, has submitted claims of Rs 45.28...
308 real estate projects in state undergoing CIRP: Maha RERA
The Maharashtra Real Estate Regulatory Authority (RERA) has released a list of 308 projects from around 60 real estate companies...
Individual insolvencies in UK shrink 9% in Q1 2023
There were 29,017 individual insolvencies registered in the UK in Q1 2023, which was 2% lower than the number of...
PUFE transactions under IBC
In this write-up, we explain the legal meaning of PUFE Transactions. PUFE stands for preferential, undervalued, fraudulent and extortionate (PUFE)...
What is Section 29A of IBC?
Section 29A: Persons not eligible to be resolution applicant. A person shall not be eligible to submit a resolution plan,...
Jet Airways revival in doubt after resignation of CEO designate
The CEO-designate of Jet Airways 2.0, Sanjiv Kapoor, has resigned, dealing a significant blow to the airline's revival efforts. Kapoor,...
Reliance Capital lenders to meet today; IIHL to present its resolution plan
So, what is next in the Reliance Capital insolvency proceedings after the Hinduja Group firm IIHL made the winning bid...
Sathavahana Ispat merges with Jindal Saw after latter pays full resolution amount
Successful resolution applicant Jindal Saw Limited has released the entire amount of Rs 694 crore for Hyderabad-based Sathavahana Ispat, the...
Hindujas emerge highest bidder with Rs 9,650 crore bid for Reliance Capital
Reliance Capital corporate Insolvency Process has come closer to completion with Hinduja Group firm IIHL emerging as the highest bidder...