Month: September 2019

The National Company Law Tribunal has allowed Axis BankNSE 6.60 % to start bankruptcy proceedings against Lanco Amarkantak Power after it defaulted on a .`960 crore loan, court documents

Gautam Thapar, ousted chairman of CG Power, has sought reelection to the board at the annual general meeting (AGM). His term as director comes to an

Global Cloud Xchange (GCX), a subsidiary of Reliance CommunicationsNSE -5.88 % (RCom), has filed for bankruptcy protection in a US court after missing payments on its $350 million

JSW Steel on Friday approached the NCLAT to seek protection from the ongoing investigation in money laundering cases against former promoters of Bhushan Power &

An insolvency professional has complained to State Bank of IndiaNSE 10.09 % (SBI) about the selection criteria it is using to appoint resolution professionals (RPs) for companies undergoing bankruptcy. The insolvency professional, Shyam

The goods and services tax (GST) regime and the Insolvency and Bankruptcy Code (IBC) are locked in a seemingly intractable impasse, entangling companies undergoing resolution. Some are planning to take

The government has notified the Insolvency and Bankruptcy Code (Amendment) Act, 2019, under which a deadline of 330 days has been set for completion of corporate insolvency resolution

The Central Board of Indirect Taxes and Customs approached the National Company Law Tribunal (NCLT) on Tuesday, to register a claim of Rs 4.6 crore

The NCLT has initiated insolvency proceedings against NCR-based real estate firm Raheja Developers after admitting a plea filed by one of its flat buyers. A two-member Principal

The delay in the resolution of bankruptcy cases is getting worst every quarter, data from the Insolvency and Bankruptcy Board of India (IBBI) shows. As

In the first case after the Insolvency and Bankruptcy Code was amended and later upheld by the Supreme Court to give home-buyers the status of financial creditors, National Company Law

NCLAT also observed that as the IRP has functioned since about 10 days, hence, it directed the company to pay Rs 1.50 lakh as fees

The Supreme Court Thursday extended by a week the status quo on the insolvency process on Jaypee Group‘s plea challenging the NCLAT order allowing fresh bidding

The National Company Law Appellate Tribunal (NCLAT) has dismissed a plea challenging NCLT‘s order to initiate insolvency proceedings against Aditya Estates over the claims filed by ICICI Bank UK PLC. A

Lok Sabha on Thursday passed amendments to the Insolvency and Bankruptcy Code, with the government asserting that the spirit behind the law is not to allow companies to

The NCLT did not agree with the submissions of Today Homes Noida that they have been given time till 2021 to complete the project by

For only the second time since the enactment of the Insolvency & Bankruptcy Code (IBC), the number of fresh cases admitted for resolution has seen

By Suvashree Ghosh and P R Sanjai The shipyard controlled by embattled Indian tycoon Anil Ambani is facing the prospect of bankruptcy after failing to get creditors’

The home buyers have neither received possession of their flats, nor refund of the amount, the lawyer said. The Supreme Court today sought the response