CBI files Rs 3,269-crore bank fraud case against Shakti Bhog Foods
The Central Bureau of Investigation (CBI) has registered a case of bank fraud against New Delhi-based Shakti Bhog Foods on...
Customers accounting for 40% loans opted for moratorium, says RBI report
PSBs: Public Sector Banks, PVBs: Pvt Banks; FBs: Foreign Banks; SFBs: Small Finance Banks; UCBs: Urban Co-operative Banks; NBFCs: Non-banking...
Why going concern status of corporate debtor important for resolution under IBC
By Archit Gupta & Vrinda Rehan A business takes capitals from different players in the market including banks, shareholders, investors,...
CBI files Rs 5,000 cr loan fraud case against IVRCL undergoing liquidation
Another company, undergoing insolvency proceeding, finds itself on the wrong side of the law. Â This time the Hyderabad-based infrastructure company...
Resolution professional can’t reclassify financial creditor as operational on his own: Allahabad HC
Can the resolution professional reclassify the status of a financial creditor to Operational Creditor based on ‘expert’ opinions despite that...
Broad contours of the proposed structure of pre-packs scheme in India
Dr SK Gupta and Jay Kothari The Union Government has been considering the introduction of pre-packs in India since 2019....
Canara Bank clarifies exposure to Transstroy (India) only Rs 678 crore
Government-owned Canara Bank has clarified that it has a total exposure of Rs 678.28 crore in Transstroy (India) Ltd, which...
Another insolvent firm found involved in bank fraud; CBI charges Transstroy (India), CMD for Rs 7926-cr loan fraud
The Central Bureau of Investigation (CBI) has registered a case against Hyderabad-based Transstroy (India) Ltd and its directors for committing...
Insolvency regulator releases guidelines for hiring professionals during CIRP
There are a variety of self-styled advisors, who may not be qualified or regulated and that they cannot be hired...
Can a CoC member be asked to contribute towards CIRP cost?
By Arvind Mangla The question is whether CoC member(s) is/are required to or can be forced to, provide interim finance...