Insolvency

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."

Corporate Affairs Minister Nirmala Sitharaman on Monday introduced a bill in the Lok Sabha to replace an ordinance that amended the insolvency law.

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.

Ruchi Soya said that the issue committee constituted by its board has approved fund raising by way of further public offer of equity shares.

Upholding the validity of the notification, the top court ruled that initiation of an insolvency resolution plan for a company does not absolve corporate guarantees given by individuals from paying up the dues to financial institutions.

National Company Law Tribunal notice said it was appointing a resolution professional for Oyo's subsidiary, Oyo Hotels and Homes Pvt Ltd, and inviting all creditors to submit any claims it may have against the company.

The world's policy makers must act urgently if they are to head off a looming solvency crisis that could cripple economies after the pandemic, according to a report led by two top former central bankers.

Economic disruption due to COVID-19, weakening in property rates, short term supports, and surge in corporate insolvencies could make 2021 the toughest year for global banks

The Supreme Court Wednesday said it will pass orders on a batch of pleas filed by Insolvency and Bankruptcy Board of India (IBBI) seeking the transfer of all petitions pending before different high courts challenging the provisions of Insolvency and Bankruptcy Code (IBC) with regard to personal insolvency.

Data from ACI showed passenger traffic at European airports decreased 73% year-on-year in September, with 172.5 million passengers lost.

Parliament on Monday approved the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020, whereby fresh insolvency proceedings will not be initiated for at least six months starting from March 25 in view of the coronavirus pandemic.

Finance Minister Nirmala Sitharaman clarified that Insolvency and Bankruptcy Code proceedings against corporates defaulting on loans prior to March 25 would continue.

The Rajya Sabha today passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020, whereby fresh insolvency proceedings will not be initiated for at least six months starting from March 25 amid the coronavirus pandemic.

A three-judge panel headed by Justice L. Nageswara Rao ruled that the bankruptcy case against the former billionaire will remain suspended.

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."

Corporate Affairs Minister Nirmala Sitharaman on Monday introduced a bill in the Lok Sabha to replace an ordinance that amended the insolvency law.

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.

Ruchi Soya said that the issue committee constituted by its board has approved fund raising by way of further public offer of equity shares.

Upholding the validity of the notification, the top court ruled that initiation of an insolvency resolution plan for a company does not absolve corporate guarantees given by individuals from paying up the dues to financial institutions.

National Company Law Tribunal notice said it was appointing a resolution professional for Oyo's subsidiary, Oyo Hotels and Homes Pvt Ltd, and inviting all creditors to submit any claims it may have against the company.

The world's policy makers must act urgently if they are to head off a looming solvency crisis that could cripple economies after the pandemic, according to a report led by two top former central bankers.

Economic disruption due to COVID-19, weakening in property rates, short term supports, and surge in corporate insolvencies could make 2021 the toughest year for global banks

The Supreme Court Wednesday said it will pass orders on a batch of pleas filed by Insolvency and Bankruptcy Board of India (IBBI) seeking the transfer of all petitions pending before different high courts challenging the provisions of Insolvency and Bankruptcy Code (IBC) with regard to personal insolvency.

Data from ACI showed passenger traffic at European airports decreased 73% year-on-year in September, with 172.5 million passengers lost.

Parliament on Monday approved the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020, whereby fresh insolvency proceedings will not be initiated for at least six months starting from March 25 in view of the coronavirus pandemic.

Finance Minister Nirmala Sitharaman clarified that Insolvency and Bankruptcy Code proceedings against corporates defaulting on loans prior to March 25 would continue.

The Rajya Sabha today passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020, whereby fresh insolvency proceedings will not be initiated for at least six months starting from March 25 amid the coronavirus pandemic.

A three-judge panel headed by Justice L. Nageswara Rao ruled that the bankruptcy case against the former billionaire will remain suspended.