Category: Legal

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

Clipped from: https://www.business-standard.com/article/companies/kapil-wadhawan-s-2nd-proposal-must-be-tested-on-merit-put-to-vote-nclt-121052100659_1.html Directs administrator to place proposal before the CoC and inform the outcome within 10 days Former DHFL promoter Kapil Wadhawan The Mumbai bench

Clipped from: https://www.business-standard.com/article/economy-policy/bad-loans-sc-allows-banks-to-invoke-personal-guarantees-of-defaulters-121052100449_1.html Apex court says approval of resolution plan does not ipso facto discharge a personal guarantor (of a corporate debtor) of his or her

Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/supreme-court-allows-personal-bankruptcy-cases-on-tycoons/articleshow/82823031.cmsSynopsis The top court upheld the legal validity of the country’s law that allowed lenders to drag them into bankruptcy court. The two-judge panel

Clipped from: https://economictimes.indiatimes.com/industry/services/hotels-/-restaurants/nclat-allows-hotels-body-to-intervene-in-insolvency-of-oyo-unit/articleshow/82720247.cmsSynopsis FHRAI said it had filed an application on behalf of its member hotels in India, who were operational creditors and were “suffering hugely”

Clipped from: https://economictimes.indiatimes.com/news/economy/policy/rbi-not-in-favour-of-fresh-insolvency-freeze/articleshow/82699508.cmsSynopsis During initial discussions with the government, RBI has indicated a freeze will not help anyone in the long run as it will only

Clipped from: https://www.business-standard.com/article/companies/committee-of-creditors-rejects-nbcc-resolution-plan-for-jaypee-infratech-121052100040_1.html Lenders to vote on Suraksha plan from Monday Both NBCC and Suraksha ARC had bid for JIL’s assets, which owns a huge land