The Insolvency Appellate Tribunal NCLAT has affirmed the “clean slate principle” under the Insolvency and Bankruptcy Code (IBC), which bars any attempt to reestablish pre-resolution shareholders’ rights, and rejected the claims of a shareholder of Sintex Industries. A two-member NCLAT bench dismissed the appeal by a Kerala-based investor seeking around Rs 110 crore in compensation…
The Insolvency Appellate Tribunal NCLAT has affirmed the “clean slate principle” under the Insolvency and Bankruptcy Code (IBC), which bars any attempt to reestablish pre-resolution shareholders’ rights, and rejected the claims of a shareholder of Sintex Industries. A two-member NCLAT bench dismissed the appeal by a Kerala-based investor seeking around ₹110 crore in compensation for…
Liquidators probe director’s ‘conduct’ at Solar Clear with creditors owed over €20m Irish Independent Read the original article here
REVEALED: Liquidator appointments for businesses in the Whittlesea council area for August 30 Herald Sun Read the original article here
REVEALED: Liquidator appointments for businesses in the Wyndham council area for August 28 Herald Sun Read the original article here
Union Bank of India (UK) Ltd, Canara Bank and LIC Housing Finance Ltd will move the National Company Law Appellate Tribunal (NCLAT) against the National Company Law Tribunal’s (NCLT) approval of a repayment plan proposed by Essel Group founder Subhash Chandra. The lenders had opposed the plan, which proposes payment of ₹6.25 crore against admitted…
A personal guarantor is essentially a borrower who has provided a guarantee or promise to pay in case the borrower fails to repay the loans. Ideally, then, should a company default, the guarantor can be held liable to repay. However, a lot may actually depend on how many assets the guarantor actually has at the…
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The Guarantor’s Gambit: Subhash Chandra, Mukesh Ambani, and a ₹22,000-Crore Word War Moneylife Read the original article here
REVEALED: Liquidator appointments for businesses in the Moreton Bay council area for August 28 The Courier Mail Read the original article here