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Implication Of Classifying Corporate Debtor As “Fraud” During Corporate Insolvency Resolution Process – Insolvency/Bankruptcy

The recent decision of the Hon’ble National Company Law Tribunal, Mumbai Bench, in the case concerning Rolta India Limited (Corporate Debtor herein), wherein it upheld the right of the Bank of India (Financial Creditor) to classify the Corporate Debtor’s account as “fraud” during the pendency of the Corporate Insolvency Resolution Process (CIRP), has given rise…

GAC-FCA Officially Declared Bankrupt In China

Well, it’s official—another chapter in the long and rocky history of Fiat Chrysler’s attempts in China has come to a close. The Guangzhou Automobile Group Co., Ltd (GAC) – Fiat Chrysler Automobiles (FCA) joint venture, once seen as a promising gateway into the world’s largest auto market, has now been declared bankrupt. On July 8th,…

Supreme Court Dismisses Byju’s Settlement Plea

New Delhi: The Supreme Court on Monday dismissed pleas filed by the BCCI and Riju Raveendran — brother of Byju Raveendran — seeking withdrawal of insolvency proceedings against Byju’s and to consider the settlement between the beleaguered edtech company and the BCCI. A Bench of Justices JB Pardiwala and R Mahadeven refused to interfere with…