MUMBAI: Citing significant governance lapses and repeated defaults in payment obligations, the Reserve Bank of India has superseded the current management and board of mid-tier home loan company Aviom India Housing Finance. It has appointed Ram Kumar, former Chief General Manager of Punjab National Bank, as the administrator. The RBI has also announced plans to…
The National Company Law Appellate Tribunal (NCLAT) on Monday set aside a plea against HUL, filed by an operational creditor seeking initiation of insolvency proceedings against the FMCG major. The appellate tribunal has upheld an order passed by the Mumbai bench of the National Company Law Tribunal (NCLT), which on September 5, 2024 had set…
The National Company Law Appellate Tribunal (NCLAT) dismissed an insolvency plea against HUL, ruling that the operational creditor’s claim was below the threshold limit and involved pre-existing disputes. The appellate tribunal upheld the NCLT’s decision, rejecting the plea filed by K Lakshmi… New Delhi, Jan 27 (PTI) The National Company Law Appellate Tribunal (NCLAT) on…
New Delhi, Jan 27 (PTI) Insolvency appellate tribunal NCLAT has set aside the directions for a fresh valuation of shares, which were held by Educomp Solutions’ Singapore-based subsidiary Educomp Asia Pacific Pte in US-based firm The Learning Internet Inc and sold by SBI Singapore. Wondering over the basis on which the Delhi bench of NCLT…
Insolvency appellate tribunal NCLAT has set aside the directions for a fresh valuation of shares, which were held by Educomp Solutions‘ Singapore-based subsidiary Educomp Asia Pacific Pte in US-based firm The Learning Internet Inc and sold by SBI Singapore. Wondering over the basis on which the Delhi bench of NCLT passed direction for fresh valuations,…
Insolvency appellate tribunal NCLAT has set aside the directions for a fresh valuation of shares, which were held by Educomp Solutions‘ Singapore-based subsidiary Educomp Asia Pacific Pte in US-based firm The Learning Internet Inc and sold by SBI Singapore. Wondering over the basis on which the Delhi bench of NCLT passed direction for fresh valuations,…
India’s expanding economy continues to attract foreign investment, necessitating a legal system that effectively safeguards these investments. This article explores and analyses the legal mechanisms available to foreign investors/creditors within the Indian judicial and insolvency framework. The dispute between Indian ed-tech giant Byju’s and its American creditor, GLAS Trust Company LLC (GLAS Trust), elucidates the…
2024 Romanian Business Environment marked by insolvency rise Home BUSINESS 2024 Romanian Business Environment: Insolvencies, Suspensions Up Read the original article here
The Tribunal emphasized that the CoC has the authority to decide to liquidate the Corporate Debtor at any point following its formation and prior to the resolution plan’s approval. In accordance with business acumen, it declined to impede the CoC’s decision. The New Delhi Bench of the National Company Law Tribunal (NCLT) has ordered the liquidation…
We’ve all admired celebrities’ glamorous lifestyles, but behind the luxury, some are quietly battling bankruptcy. In an unexpected revelation by the Insolvency Department (MDI), approximately 50 celebrities, including a well-known Datuk singer, are still grappling with bankruptcy despite their image as wealthy individuals. Some of these figures have been unwilling to cooperate in paying the…