One Nation: Will Pauline Hanson’s sister replace Senator Malcolm Roberts if he is disqualified? – ABC Online

Despite speculation, One Nation Leader Pauline Hanson’s sister is not necessarily on track to join her sibling in the Upper House, according to the ABC’s electoral expert Antony Green. The chance of Judy Smith entering the Senate has arisen because there is doubt over whether One Nation’s Malcolm Roberts was a dual citizen when…

National Company Law Tribunal allows insolvency proceedings against seven companies – Financial Express

The aggregate debt involved in seven stressed companies, now cleared for insolvency proceedings, is Rs 1.3 lakh crore, a little over half the amount that these companies owe banks. With the NCLT (National Company Law Tribunal) allowing insolvency proceedings to be initiated against companies even if winding-up petitions are pending before high courts, provided these…

Will Pauline Hanson’s Sister Replace Senator Malcolm Roberts if he is Disqualified? – ABC Online (blog)

With it looking increasingly likely that One Nations Malcolm Roberts could have his qualifications to sit in the Senate referred to the High Court, the question of who would replace him if disqualified has attracted attention. Senator Roberts problem is that he overlooked the fact he had British citizenship. Shortly before the election he tried…

Arun Jaitley urges PEs, ARCs to hasten resolution of insolvency cases – Economic Times

MUMBAI: Finance minister Arun Jaitley has urged private equity players and asset reconstruction companies to act swiftly towards resolution of stressed assets, hoping that this will inspire confidence among investors as well as boost the economy. Jaitley conveyed this in a closed-door meeting which was attended by senior of finance ministry officials, select private equity…

Supreme Court allows two companies to withdraw from corporate insolvency proceedings – The Hindu

In what may be a future relief for corporate debtors facing insolvency proceedings, the Supreme Court used its extraordinary constitutional powers to allow two companies to withdraw from insolvency proceedings and settle their loan dispute despite the case having been admitted by the National Company Law Tribunal (NCLT). Once the NCLT admits a case for…

Not just banks, your unpaid supplier of goods or services can now initiate bankruptcy proceedings – Economic Times

Indian banks are saddled with bad debt and as the banking industry goes about recovering about Rs 8 lakh crore in doubtful loans, the new Insolvency and Bankruptcy Code is expected to provide the much needed teeth to the financial institutions. Aspects like a time bound recovery period for corporates, simpler ways for creditors to…

Rs 57 lakh non-payment case: NCLAT quashes Inox Wind insolvency proceedings – The Indian Express

By: ENS Economic Bureau | New Delhi | Published:July 29, 2017 2:29 am Inox Wind had said it has already settled the dispute with the operational creditor, Jeena & Company a custom agent responsible for providing custom clearance services. The National Company Law Appellate Tribunal (NCLAT) has directed NCLT Chandigarh bench to close insolvency proceedings…