Insolvency Proceedings

In a recent order, while imposing one of the stiffest penalties till date of Rs 56 crore on two promoters of Seya Industries, SEBI has clarified how the moratorium against legal action under the IBC works.

Weekly Numerics | Fiscal deficit widens, talent scarcity hits India Inc., long timelines for debt recovery

Four out of five employers in India report facing difficulty in finding the talent they need. Meanwhile, 52 million additions were made to the payrolls over the past four years.

Insolvency proceedings: Gujarat High Court stays NCLT order against Rasna

Rasna admitted that they had availed transportation services from the transporter but stated that there were pre-existing disputes between the parties.

Go First extends suspension of flight operations till June 7

The airline tweeted that due to 'operational reasons' its flights scheduled till June 7, have been cancelled.

Jaypee Infratech defers approval of financial statements for March 2023 quarter

In view of the pending appeals in the NCLAT, the company said the statutory due date should be extended to give a proper effect of the accounting entries in the books for presenting a true and fair view of the financial performance.

Go First extends suspension of flight operations to May 30

The airline has tweeted that due to 'operational reasons' its flights scheduled till May 30, 2023, have been cancelled.

Can GoFirst still be a going concern? Yes, no, maybe: Legal experts grope in the dark

As beleaguered Go First shuts operations and initiates litigation, experts offer differing opinions regarding the legal implications. According to some, how Go First’s future shapes up is largely going to depend on what the Delaware court decides.

308 real estate projects in Maharashtra undergoing insolvency proceedings, 233 in MMR: MahaRERA data shows

MahaRERA said it has started taking steps for micro control of all the affected projects.

NCLAT sets aside insolvency proceedings against Zee Learn, directs NCLT to decide afresh

Earlier on February 10, the National Company Law Tribunal (NCLT) had admitted the plea filed against Zee Learn by its financial creditor Yes Bank Ltd (YBL) and directed to initiate insolvency proceedings against it.

Srei insolvency: NARCL wins bid for stressed twin NBFCs

The Committee of Creditors on Wednesday approved the plan submitted by NARCL, which offered a Net Present Value (NPV) bid of Rs 5,555 crore, after it received the highest vote of 89.2 per cent from verified creditors.

Jaypee Infra insolvency: Consortium lenders, except ICICI Bank, assign their debt to NARCL

Jaypee Infratech Ltd (JIL) is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the provisions of the Insolvency & Bankruptcy Code (IBC) following an order dated August 9, 2017, passed by the Allahabad-Bench of National Company Law Tribunal (NCLT).

NCLT stays Reliance Capital's resolution process on Torrent's plea

The stay order was issued by the National Company Law Tribunal (NCLT) as the Ahmedabad-based Torrent Group challenged the revised bid from Hinduja Group, sources said.

JSW Energy completes acquisition of Ind-Barath Energy for Rs 1,047 crore

Now, the company holds 95 percent equity shares of Ind-Barath Energy (Utkal) Ltd and the secured financial creditors collectively hold the balance 5 percent, as per the terms of the resolution plan.

NCLAT sets aside insolvency proceedings against Mack Star

Appellate tribunal NCLAT has set aside insolvency proceedings against Mack Star Marketing initiated by the NCLT Mumbai after observing that the term-loan provided by Yes Bank to it was an "eye-wash" and "collusive in nature".

ATS group company goes into insolvency

Anand Divine Developers Pvt Ltd, which is building ATS Triumph project in Gurgaon, allegedly failed to pay dues amounting to over Rs 25 crore

Reliance Capital Insolvency Case: Deadline to submit EOI extended to March 25

Earlier, the administrator had set March 11 as the deadline to invite EOIs for Reliance Capital. The deadline was extended on March 11 to allow more time for suitors to come forward and make minor adjustments to the EOI norms.

HDIL insolvency: RP gets 16 resolution plans from 9 bidders

The Resolution Professional is in the process of examining the resolution plans in accordance with the provisions of the Insolvency and Bankruptcy Code, 2016, and Regulations framed thereunder, HDIL said in a regulatory filing.

Threat of insolvency suits can nudge discoms to adopt better financial practices

Private power generators who entirely depend on discoms for their revenues may hesitate to initiate insolvency proceedings. But the threat can force discoms to adopt loss reduction measures

Big Story | Government extends IBC suspension by 3 months

Earlier this year, the government had suspended fresh bankruptcy filings under the IBC for a period of 6 months starting March 25, 2020, corresponding with the announcement of the nationwide lockdown.