Australia rolls back changes in insolvency laws triggered by Covid-19 from 1 January
Even as India extended the suspension of Insolvency and Bankruptcy Code till March 2021, many countries have started rolling back...
Sintex Plastics settles vendor’s dues; may escape insolvency proceedings
Sintex Plastics Technology, the Kalol, Gujarat-based listed company, has reached a settlement with operational creditor Zielen Industries Private Ltd and...
GlaxoSmithKline escapes insolvency proceedings by clearing Rs 8 lakh due
The regulator and policy-makers alike have time and again reiterated that the Insolvency and Bankruptcy Code (IBC) is not a...
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. 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...