Recovery from resolutions in Jan-Mar’23 at 50% of admitted claims
In the January-March 2023 quarter, 70 Corporate Insolvency Resolution Processes (CIRPs) ended in resolution leading to recovery of Rs 32,137...
Inventory auction of erstwhile Nirav Modi firm Firestar Diamond fetches Rs 32 crore
The liquidator of Firestar Diamond International Pvt Ltd managed to raise Rs 32.16 crore from the auction of precious inventory...
NCLT orders liquidation of EPC firm CCCL
The Chennai bench of the NCLT has pronounced initiation of liquidation process against Consolidated Construction Consortium Limited (CCCL), a Chennai-based...
NCLAT rejects Venugopal Dhoot offer to settle dues of Videocon arm Trend Electronics
The National Company Law Appellate Tribunal (NCLAT) has dismissed a plea by former Videocon Industries chairman Venugopal Dhoot against an...
No plans of filing for insolvency: SpiceJet
Amid stressed financials and lessors baying for its blood, the management of SpiceJet has said that it has no plans...
NCLT admits Go First insolvency application; gets protection against recovery from lessors
The Delhi bench of National Company Law Tribunal (NCLT) on 10 May 2023 admitted the insolvency petition filed by Go...
In first resolution under pre-packed insolvency, Aquarius Fincap takes over Amrit India
In the first successful resolution of a Pre-packed Insolvency Resolution Process (PPIRP), Aquarius Fincap and Credits Private Limited has successfully...
SARE Gurugram homebuyers have to wait for 6-36 months for their flats
In a big relief to homebuyers of SARE Gurugram, a New Delhi-based real estate company, the principal bench of NCLT...
Small business bankruptcy filings in US under Subchapter V up 81% in April 2023
There was an 81% increase in bankruptcy filings by small businesses, which is captured as subchapter V elections within chapter...
NCLT rejects insolvency plea against Simplex Infrastructure citing pending arbitration awards of Rs 554
The Kolkata bench of NCLT has given a big reprieve to EPC and construction company Simplex Infrastructure, when the tribunal...