Bankruptcy

RBI on Thursday filed an application for initiation of Corporate Insolvency Resolution Process against debt-ridden Reliance Capital

Mt. Gox will be paying $9 billion (roughly Rs. 67,531 crore) to its former customers who lost their Bitcoin holdings in a hack attack in 2014 with. The company is yet to announce detailed information on the distribution process

A bankruptcy court in New York has dismissed a petition of fugitive diamond merchant Nirav Modi and his associates, seeking dismissal of fraud allegations against them.

The Reserve Bank of India (RBI) said on Monday that it has superseded the board of directors of non-banking financial companies Srei Infrastructure Finance Ltd (SIFL) and Srei Equipment Finance Ltd (SEFL) due to governance concerns and defaults.

Their plight stands testimony to the bankruptcy of a politics that exists in their name - a "Hindu Rashtra" where workers have no rights.

In a rare plea, the chief judge at India's bankruptcy appeals court petitioned the Supreme Court to let him work for three more days even after his term was cut short by the federal government.

Finance Minister Nirmala Sitharaman in her reply said, "I will ensure we are also working to fill the vacancies in the (NCLT) benches..So, I do not want you to worry about vacancies and causing any further delay."

A British court has granted a bankruptcy order against Vijay Mallya, paving the way for a consortium of Indian banks led by the SBI to pursue a worldwide freezing order to seek repayment of debt owed by the now-defunct Kingfisher Airlines.

In 2020 it managed a $9 million load from the Paycheck Protection Program and finished the year with just $1 million in the bank.

Five years since the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code 2016 began, it has resolved only 394 cases.

Ministry of Corporate Affairs said that the changes will bring in greater discipline and transparency in insolvency proceedings.

Five years ago, India came up with a legal answer to its perennial economic challenge of rescuing the money stuck in zombie firms.

The Mumbai bench of the National Company Law Tribunal permitted Twin Star Technologies,a part of Anil Agarwal's Vedanta Group, to take over Videocon Industries

Twin Star, a part of Agarwal's Vedanta Group, will pay about Rs 30 billion ($410 million) to Videocon's lenders.

Orchid Pharma: New owners have to divest part of their stake of about 98 per cent in the firm, which re-listed in Mumbai in early November after emerging from bankruptcy

RBI on Thursday filed an application for initiation of Corporate Insolvency Resolution Process against debt-ridden Reliance Capital

Mt. Gox will be paying $9 billion (roughly Rs. 67,531 crore) to its former customers who lost their Bitcoin holdings in a hack attack in 2014 with. The company is yet to announce detailed information on the distribution process

A bankruptcy court in New York has dismissed a petition of fugitive diamond merchant Nirav Modi and his associates, seeking dismissal of fraud allegations against them.

The Reserve Bank of India (RBI) said on Monday that it has superseded the board of directors of non-banking financial companies Srei Infrastructure Finance Ltd (SIFL) and Srei Equipment Finance Ltd (SEFL) due to governance concerns and defaults.

Their plight stands testimony to the bankruptcy of a politics that exists in their name - a "Hindu Rashtra" where workers have no rights.

In a rare plea, the chief judge at India's bankruptcy appeals court petitioned the Supreme Court to let him work for three more days even after his term was cut short by the federal government.

Finance Minister Nirmala Sitharaman in her reply said, "I will ensure we are also working to fill the vacancies in the (NCLT) benches..So, I do not want you to worry about vacancies and causing any further delay."

A British court has granted a bankruptcy order against Vijay Mallya, paving the way for a consortium of Indian banks led by the SBI to pursue a worldwide freezing order to seek repayment of debt owed by the now-defunct Kingfisher Airlines.

In 2020 it managed a $9 million load from the Paycheck Protection Program and finished the year with just $1 million in the bank.

Five years since the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code 2016 began, it has resolved only 394 cases.

Ministry of Corporate Affairs said that the changes will bring in greater discipline and transparency in insolvency proceedings.

Five years ago, India came up with a legal answer to its perennial economic challenge of rescuing the money stuck in zombie firms.

The Mumbai bench of the National Company Law Tribunal permitted Twin Star Technologies,a part of Anil Agarwal's Vedanta Group, to take over Videocon Industries

Twin Star, a part of Agarwal's Vedanta Group, will pay about Rs 30 billion ($410 million) to Videocon's lenders.

Orchid Pharma: New owners have to divest part of their stake of about 98 per cent in the firm, which re-listed in Mumbai in early November after emerging from bankruptcy