The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Arun Baroka (Technical Member) and Mr. Barun Mitra (Technical Member) held that the National Company Law Tribunal can’t compel the corporate debtor to retain the same liquidator once a valid board resolution has been passed for their replacement…
“Today, 3.3 billion people live in countries that spend more on interest payments than on health, and 2.1 billion live in countries that spend more on interest payments than on education,” the report said. “Interest payments on public debt are therefore crowding out critical investments in health, education, infrastructure and climate resilience.” The indebted governments…
Company insolvencies increase as difficult trading environment continues to bite TheBusinessDesk.com Read the original article here
Introduction In a judgment that may well redefine the contours of finality in insolvency resolution under India’s insolvency regime, the Supreme Court, in Kalyani Transco v. Bhushan Power and Steel Ltd.1, directed the liquidation of a corporate debtor more than five years after its resolution plan had been approved and implemented. The decision not only…