A person who has to receive a payment from an insolvent company can now seek the claim under the insolvency law as the revised regulations have enabled owners of undelivered flats to get relief. Till now, only financial and operational creditors were permitted to seek claims under the Insolvency and Bankruptcy Code (IBC). The revised…
Vandana Ramnani Moneycontrol News With the Real Estate (Regulation and Development) Act 2016 (RERA) tightening the noose around the developer community, some of them may have found liquidation proceedings or the bankruptcy law as an avenue to escape the ambit of the state regulator, say legal experts. Insolvency cases are likely to go up going…
There has been 41 bankruptcy adjudications in Louth since 2014, according to the Insolvency Service of Ireland, who released its Q2 statistical report for 2017 recently. This represents a rate of 4.4 adjudications per 10,000 adults in Louth. This compares to 7.6 adjudications in Monaghan, 6.2 per 10,000 adults in Meath and 3.7 in Dublin.…
Section 44 of the Constitution sets out restrictions on who can be a candidate for federal parliament. Five subsections make clear what disqualifies people, but its article one that tripped up the two Greens, government minister Matt Canavan, One Nation senator Malcolm Roberts and Deputy Prime Minister Barnaby Joyce. It rules out anyone with allegiance, obedience,…
The Chandigarh bench of NCLT admitted Corporation Banks insolvency proceeding against Amtek Auto on 24 July and subsequently appointed Dinkar Venkatasubramanian as the insolvency resolution professional (IRP). Mumbai: The insolvency professional in charge of Amtek Auto Ltd has sought the cooperation of all creditors to keep the company as a going concern for a time-bound…
The Uttar Pradesh government gave hope on Wednesday to hundreds of distressed homebuyers of the Jaypee Infratech Group, promising to help the people get possession of their houses on time. The homebuyers, most of whom have invested their lifes savings, have sought the governments intervention after the National Company Law Tribunal admitted an IDBI Banks…
The finance minister said there is a provision for running a company under insolvency proceedings. New Delhi: Finance Minister Arun Jaitley on Wednesday said the government has full sympathy with the agitating Noida homebuyers and they can seek relief under the insolvency law. Hundreds of home buyers had been left in the lurch after the…
Photo: PTI Jaitley said the government’s sympathy are with aggrieved flat buyers Observing that flat buyers who have paid money to developers should get their flats, Finance Minister Arun Jailtey said “our full sympathy” is with the aggrieved home buyers. The minister’s comments came after the initiation of insolvency proceedings against Jaypee Infrastech threw its buyers into a lurch. The Finance minister…
New Delhi: Finance Minister Arun Jaitley on Wednesday said the government has full sympathy with the agitating Noida homebuyers and they can seek relief under the insolvency law. Hundreds of home buyers had been left in the lurch after the Allahabad bench of the National Company Law Tribunal (NCLT) last week admitted IDBI’s plea for…
Representational pic – Jaypee Infratech insolvency plea Shares of Jaypee Infratech, a part of the debt-ridden Jaypee group, today hit lower circuit with reports suggesting that the government was exploring if it was legally tenable under insolvency laws to sell its assets to raise money to complete pending housing projects of the company. Hundreds of…