Insolvency Proceedings News
SRF Limited has filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), for initiating the Corporate Insolvency Resolution Process (CIRP) against Birla Tyres
SC says company law tribunal can't compel parties to settle dispute in insolvency proceedings under IBC
The top court referred to the provisions of the IBC and said that the NCLT and its appellate body, NCLAT, had only two options available to either allow or reject the insolvency proceedings against the firm
NCLAT rejects IFCI plea against ACCIL Hospitality, says can't seek fresh insolvency plea against corporate guarantor
IFCI had filed petition to initiate insolvency proceedings against ACCIL Hospitality, which had extended a corporate guaranty for Asian Colour Coated Ispat Limited.
Vijay Mallya cannot use pendency of plea to stall insolvency proceedings against him in other jurisdictions: SC
Vijay Mallya, who is currently in the UK, has been charged by the Enforcement Directorate (ED) with defaulting on bank loans to the tune of Rs 9,000 crore.
The move came in after the Reserve Bank last Friday referred DHFL to the NCLT Mumbai to resolve the debt crisis at the third largest pure-play mortgage player, which owes close to Rs 1 lakh crore to the system
MahaRERA allows home-owners of DSK Group to complete stressed project in Pune; directs freezing of promoter's bank account for project
DSK Group chairman DS Kulkarni and his wife are currently lodged in Yerawada jail in Pune for allegedly cheating nearly 33,000 depositors and investors of nearly Rs 2,043.18 crore
NCLAT breather for Singh brothers, appellate tribunal dismisses HDFC's insolvency plea against RHC Holding
HDFC had then approached the appellate tribunal to challenge the NCLT's ruling.
Jet Airways crisis: Govt orders SFIO probe into alleged mismanagement of funds, summons Naresh Goyal for questioning
The SFIO order refers to alleged siphoning of funds and unspecified financial irregularities at Jet Airways
Jet Airways crisis: Hinduja Group, Etihad Airways likely to bid for debt-laden airline via IBC route; Tata, Qatar Airways keen to join race too
Qatar Airways is also expected to join the race for Jet Airways stake acquisition if the state-owned flag carrier of Qatar is able to find out a suitable local partner, the report said.
Jaypee Infratech creditors decide to put on vote NBCC's revised bid; homebuyers likely to favour state-run firm
On Friday, lenders had written to NBCC seeking clarifications on certain relief and concessions put forward by the public sector firm in its resolution plan.
A two-member bench headed by NCLT President Justice M M Kumar observed that ICICI Bank has already raised similar claims against its parent company, Era Infra Engineering,
Jaypee Infratech takeover: Lenders seek clarification from NBCC on revised bid; creditors' panel to meet again on 14 May
NBCC was also asked how it will fund the takeover of Jaypee Infratech, sources said adding that NBCC officials answered all the queries.
NCLT rejects Ruias' debt settlement proposal to retake Essar Steel; company hints at challenging verdict
If it is not challenged again, this opens the first major victory for the LM Mittal-run ArcelorMittal into the country
The National Company Law Tribunal (NCLT) on Thursday dismissed the plea of HDFC Ltd to initiate insolvency proceedings against RHC Holding, a non-banking financial company promoted by Singh brothers -- Malvinder Mohan Singh and Shivinder Mohan Singh.
IL&FS board chalks out new roadmap to address lenders queries; requests permission to place it before NCLAT
Lenders of IL&FS group opposed the 90-day moratorium over loan repayment by the debt-laden group and its subsidiaries.
Daiichi Sankyo, which has filed an intervention application in the insolvency plea filed by HDFC Bank, said they have a decree to recover money against RHC Holding.
Jaypee Infratech, which is facing insolvency proceedings, on Monday said that the company's independent director Sham Lal Mohan has resigned citing personal reasons
A bench headed by Justice R F Nariman also asked the banks not to file any insolvency cases till November when the apex court would hear the matter.
It is not the elevation to the ranks of financial creditor but to the ranks of secured creditors that would have given relief to the hapless homebuyers in the Jaypee Infratech case
Jaiprakash Associates, Jaypee Infra shares drop after SC asks NCLT to deal with insolvency proceedings against group
In a setback to the Jaypee group, the Supreme Court on Thursday asked the NCLT, Allahabad, to deal with insolvency proceedings against Jaypee Infratech Ltd (JIL) and barred the group or its promoters from participating in the fresh bidding process