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Proviso To S.10A Of IBC Doesn’t Bar CIRP Applications Where Default Continues Beyond Moratorium Period: Madras High Court

The Madras High Court bench comprising Justice S.S. Sundar and Justice P. Dhanabal has held that the proviso to Section 10-A of the Insolvency and Bankruptcy Code (IBC) does not extend to cases where the default continues beyond the moratorium period. The court noted that Section 10-A only imposes a moratorium temporarily suspending the initiation…

Missing millions force peak WA pastoralists lobby g…

A longstanding WA agricultural lobby group has entered voluntary administration a week after revealing “serious financial misconduct” had been detected within the organisation. The Pastoralists and Graziers Association appointed RSM Australia Partners Jerome Mohen and Greg Dudley as voluntary administrators at a board meeting on Thursday afternoon. Mr Mohen said the lobby group made the…

Improving insolvency law key for 7-8% growth; need more measures for better efficiencies: Economic Survey, ET LegalWorld

An improving insolvency framework is important for achieving 7-8 per cent economic growth over the next decade, the Economic Survey said on Friday and pitched for imposition of higher costs to prevent entities from filing frivolous applications during the resolution process. The suggestion also comes against the backdrop of long delays in the insolvency resolution…

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Economic Survey Report 2024 – 2025 urges for Operational Efficiencies under IBC

The report urges the introduction of insolvency and bankruptcy reform to improve operational efficiencies to speed up the resolution process The Economic Survey 2024-25 was tabled in the Parliament today (January 31, 2025) after President Droupadi Murmu’s address commencing the Budget Session. The report urges the introduction of insolvency and bankruptcy reform to improve operational…