Repeated Default in Approved Resolution Plan Despite ₹171.48 Cr Payment: NCLT Orders Liquidation of Corporate Debtor [Read Order]

Liquidation

The National Company LawTribunal (NCLT) Hyderabad, has directed that Splendid Metal Products Limited which was subsequently renamed as Thalaivar Steels Limited should be liquidated due to the continued inability to execute the Resolution Plan approved despite significant amounts being paid by the Successful Resolution Applicant (SRA). The Corporate Debtor was admitted for CIRP on 4…

Nepal News | Nepal’s First Online News Portal

Debt Help

KATHMANDU: Every July, the same scene repeats itself. The Finance Minister presents the budget, the National Planning Commission aligns the Medium-Term Expenditure Framework, and ministries line up a long list of projects. On paper, everything appears seamless: there are projects, there is a budget, and there are targets. But as the end of the fiscal…

The Subhash Chandra Insolvency Case : A Legal Victory, a Recovery Failure or Both? (Part 1)

Bankruptcy

Indian Masterminds Stories Few insolvency cases have generated as much noise in as little time as the Subhash Chandra repayment plan before the National Company Law Tribunal. The headline number—Rs 22,006.57 crore of admitted claims against a personal contribution of just Rs 6.5 crore—has triggered outrage, confusion and competing claims about what was actually recovered.…

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Liquidation

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IBBI Must Be Circumspect While Issuing SCN Due to Serious Impact on Insolvency Professionals: Bombay High Court

Liquidation

The Bombay High Court has set aside an Insolvency and Bankruptcy Board of India (IBBI) disciplinary order suspending an insolvency professional for three months, holding that the show cause notice was based on matters extraneous to the investigation and that relevant material was ignored while imposing the penalty. The Bench of Justice Manish Pitale and…

The Reacue Culture Under CAMA 2020: Has Nigeria Truly Moved Beyond Liquidation? -By Oluwaleye Adedoyin Grace

Liquidation

Abstract The Companies and Allied Matters Act 2020 (CAMA 2020) introduced a significant change in Nigerian corporate insolvency law by incorporating formal mechanisms directed at the rescue and rehabilitation of financially distressed companies. In particular, the introduction of Company Voluntary Arrangements (CVAs) under sections 434–442 and administration under sections 443–549 represents a departure from the…