Reserve Bank of India Deputy Governor M Rajeshwar Rao on Saturday pitched for an enforceable code of conduct for the Committee of Creditors under the insolvency resolution process. While emphasising that the Insolvency and Bankruptcy Code, which was introduced in 2016, has gained significant traction as a recovery and resolution mechanism, Rao also said significant…
New York CNN — True Value, a 75-year old hardware store brand, has filed for bankruptcy and is selling substantially all of its operations to a rival, the company announced Monday. In a press release, True Value said it will continue day-to-day operations of selling hardware and other homeware tools to its 4,500 independently operated…
Motions brought by boom-time developer Seán Dunne in an effort to dislodge officials overseeing his bankruptcy have been dismissed by the High Court. Mr Justice Liam Kennedy said Mr Dunne (aged 70) failed to bring new proceedings and instead took a procedurally incorrect route in seeking to challenge the validity of two officials’ appointments within…
Blokker workers angered to find out bankrupt chain will close 100 shops earlier than planned | NL Times Skip to main content Read the original article here
New Delhi, Dec 7 (PTI) Reserve Bank Deputy Governor M Rajeshwar Rao on Saturday pitched for an enforceable code of conduct for the Committee of Creditors (CoC) under the insolvency resolution process. While emphasising that the Insolvency and Bankruptcy Code (IBC), which was introduced in 2016, has gained significant traction as a recovery and resolution…
It was evident that the appellant could not have adjusted the security deposit given by the corporate debtor towards its pre-CIRP dues after the admission of the corporate debtor into the insolvency The Chennai bench of the National Company Law Appellate Tribunal ( NCLAT ) has held that pre-CIRP dues cannot be recovered once the corporate…
Directorate of Enforcement (ED), Delhi Zonal Office, conducted search operations on 04 December 2024 at 18 locations in Delhi, NCR and Mumbai belonging to Shilpi Cable Technologies Limited (SCTL), the then promoters/ directors Manish Goel, Vishal Goel and other companies related to them. ED initiated investigations on the basis of FIR registered by CBI, New…
The NCLAT New Delhi bench of Justice Ashok Bhushan (Judicial Member) and Barun Mitra (Technical Member) has held that section 43 of the code can be attracted only when the transaction in question is made by the corporate debtor and not when it is made by the third party in pursuance of a statutory demand.…
Highlights The National Company Law Appellate Tribunal upheld the order of the National Company Law Tribunal admitting Jaiprakash Associates Limited to the Corporate Insolvency Resolution Process. The National Company Law Appellate Tribunal found that Jaiprakash Associates Limited had made a One Time Settlement offer and paid ₹ 200 Crores as an upfront amount. The appeals…
Eegee’s declared Chapter 11 bankruptcy on Friday. | Photo: Shutterstock. Eegee’s, a 53-year-old chain out of Tucson, Arizona, declared Chapter 11 bankruptcy on Friday after closing a handful of stores in the region. The fast-food sandwich concept listed both assets and liabilities of between $10 million and $50 million and says that it has between…