Category: Legal

Clipped from: https://www.business-standard.com/article/opinion/new-credit-culture-121052300924_1.html A big step by SC in allowing banks to chase personal guarantors Last week, a two-judge Bench of the Supreme Court upheld a notification issued

lipped from: https://www.business-standard.com/article/companies/coc-to-review-nbcc-offer-for-jaypee-infra-on-monday-before-vote-on-suraksha-121052300362_1.html Homeowners, Suraksha cry foul; say move illegal as per SC order Even as Suraksha group’s resolution plan for Jaypee Infratech is set to

Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/supreme-courts-order-on-defaulter-tycoons-plugs-an-important-bankruptcy-loophole/articleshow/82825203.cmsSynopsis Lawyers and bankers were said the order sets a precedence for future recoveries in bankrutpcy cases and more importantly act as a deterrent

Clipped from: https://economictimes.indiatimes.com/markets/stocks/news/nclt-ruling-on-dhfl-creditors-weighing-options/articleshow/82897352.cmsSynopsis Several lenders prefer challenging order at appellate tribunal to voting against Wadhawan’s offer Mumbai: Stunned by the National Company Law Tribunal ruling (NCLT) onDHFLNSE 4.83

Clipped from: https://www.thehindubusinessline.com/todays-paper/tp-opinion/article34630423.ece SC ruling on personal guarantees in corporate bankruptcies is welcome, but NCLT is not in sync There have been two important, and in

Clipped from: https://www.financialexpress.com/industry/jaypee-case-nbcc-questions-irps-jurisdiction-demands-voting-on-its-offer/2257110/ In the first round of insolvency proceeding, the Rs 7,350-crore bid of Lakshadweep, part of Suraksha Group, was rejected by lenders. The CoC

Clipped from: https://economictimes.indiatimes.com/industry/services/property-/-cstruction/suraksha-arc-seeks-fair-unbiased-process-in-jaypee-infra-insolvency/articleshow/82775929.cmsSynopsis ​​The company has debt obligation of over Rs 9,800 crore to creditors. Homebuyers’ claims amount to Rs 12,714 crore. The admitted financial debt

Clipped from: https://www.thehindubusinessline.com/todays-paper/tp-opinion/article34619148.ece In these troubled times, a consensus-based approach can be effective in saving viable MSMEs in a time-bound manner The Insolvency and Bankruptcy Code,

Clipped from: https://www.thehindubusinessline.com/todays-paper/tp-news/article34619129.ece Says it would also allow the erstwhile promoter to benefit from his own wrong Permitting Kapil Wadhawan, erstwhile promoter DHFL to present a

Clipped from: https://www.thehindubusinessline.com/money-and-banking/banks-eye-sureties-of-18-lakh-cr/article34617449.ece Promoters of 42 firms face music Personal guarantees amounting to ₹1.8-lakh crore given by promoters of as many as 42 defaulting corporate entities

Clipped from: https://www.thehindubusinessline.com/companies/ibc-code-apex-court-upholds-govt-move-to-initiate-proceedings-against-personal-guarantors/article34613841.ece?homepage=true ‘Surety is not absolved by release of the principal borrower because of IBC proceedings’ The Supreme Court on Friday upheld a government move

Clipped from: https://www.financialexpress.com/industry/coc-rejects-nbcc-bid-says-third-party-securities-held-by-ifcs-are-additional-security-interest/2256807/ In its revised resolution plan, NBCC proposed that DFCs would be allowed to enforce security interest, forming a part of the institutional financial

lipped from: https://www.financialexpress.com/industry/insolvency-supreme-court-says-banks-can-invoke-personal-guarantee/2256755/ Legal experts said the judgment now empowers banks to simultaneously proceed against the corporate debtor and the personal guarantors, thereby ensuring that the