Insolvency process: IBC to have provisions dealing with individual insolvency, says IBBI chairman – The Financial Express

Liquidation

IBBI, established in October 2016 under the IBC, has regulatory oversight over the insolvency professionals/agencies/entities and information utilities The Insolvency and Bankruptcy Code (IBC), 2016, will soon have provisions dealing with individual insolvency and bankruptcy, said MS Sahoo, chairman of Insolvency and Bankruptcy Board of India (IBBI). Sahoo on Friday said the first priority would…

FILING DEADLINE–Kuznicki Law PLLC Announces Class Actions on Behalf of Shareholders of IMMU, YRIV, SVXY and UXIN – GlobeNewswire

Bankruptcy

CEDARHURST, N.Y., Feb. 15, 2019 (GLOBE NEWSWIRE) — The securities litigation law firm of Kuznicki Law PLLC issues the following notice on behalf of shareholders of the following publicly traded companies. Shareholders who purchased shares in these companies during the dates listed below are encouraged to contact the firm regarding possible appointment as lead plaintiff…

Viceroy Hotels Ltd. – Corporate Insolvency Resolution Process (CIRP)-Intimation of meeting of Committee of Creditors – The Hindu BusinessLine

Liquidation

Notice of 16th Committee of Creditors Meeting Ref: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 – Reg. With reference to the subject cited above, I would like to bring to your kind notice that the 16th Meeting of the Committee of Creditors (COC) of the Company is scheduled to…

IBC Overrides PMLA; No Attachment Possible Under PMLA During Insolvency Process : NCLT [Read Order] – Live Law

Liquidation

The Insolvency and Bankruptcy Code 2016(IBC) will prevail over the Prevention of Money Laundering Act 2002(PMLA), and hence no attachment can be ordered under PMLA against the assets of corporate debtor undergoing insolvency process. This was held by the National Company Law Tribunal, Mumbai bench, allowing an application moved by Resolution Professional of Sterling SEZ…

IICA launches graduate programme for insolvency professionals – Moneycontrol.com

Bankruptcy

The Indian Institute of Corporate Affairs (IICA) has launched the Graduate Insolvency Programme (GIP) for individuals aspiring to join the insolvency profession in India andabroad. This is among the first such courses in the world for professionals dealing with insolvent companies and helping them achieve debt resolution. Approved by the Insolvency and Bankruptcy Board of…

Insolvency Code supersedes PMLA in bankruptcy process – Daily News & Analysis

Bankruptcy

In a landmark judgement, the Mumbai bench of National Company Law Tribunal (NCLT) has nullified the attachment notice served by the Enforcement Directorate on Baroda-based Sterling Biotech Ltd (SBL), saying that the NCLT gives speedier justice and that a new legislation Insolvency and Bankruptcy Code 2016 precedes over the existing legislation. Enforcement Directorate had attached…

Relief to Coal India: NCLAT sets aside NCLTs insolvency order against ECL – The Financial Express

Bankruptcy

The NCLTs Kolkata bench on December 19, 2018, admitted an insolvency petition, filed by the Hinduja Group-controlled Gulf Oil Lubricants India (GOLIL), against ECL under Section 9 of the Insolvency & Bankruptcy Code (IBC), as the coal miner allegedly refused to pay the interest amount on the original debt towards goods supplied. The National Company…