What now for Byju's? Insolvency process faces fresh hurdles after NCLT order – MSN
What now for Byju’s? Insolvency process faces fresh hurdles after NCLT order MSN Read the original article here
Indian firms haven’t learnt to use insolvency law: IBBI
IBBI chief Ravi Mital on Thursday said companies in India have not learnt how to use the insolvency law and pitched for efforts to ensure that more companies opt for the voluntary resolution process to increase productivity. The Insolvency and Bankruptcy Code (IBC), which provides for a market-linked and time-bound resolution of stressed assets, came…
What now for Byju’s? Insolvency process faces fresh hurdles after NCLT order
Edtech major Byju’s finds itself in yet another legal tangle. After its insolvency proceedings were reinstated in October last year, a new twist emerged when Resolution Professional (RP) Pankaj Srivastava removed two key creditors—Aditya Birla Finance and U.S.-based Glas Trust Company LLC—from the Committee of Creditors (CoC). The decision was swiftly challenged in the Supreme…
AI litigation, insolvencies among concerns threatening D&Os—Allianz
“The global rise in business insolvencies is a particular focus of concern, with companies and leaders exposed to potential claims from lenders seeking to recover funds, or from shareholders who allege breach of fiduciary duty,” said Maxwell. “At the same time, the litigation landscape and enforcement are increasingly stringent, and we are seeing regulatory bodies…
Bensons possibly insolvent as far back as 2023 – The Australian
Bensons possibly insolvent as far back as 2023 The Australian Read the original article here
Companies can look at voluntary insolvency process to increase productivity, maximise value: IBBI chief – MSN
Companies can look at voluntary insolvency process to increase productivity, maximise value: IBBI chief MSN Read the original article here
Indian companies yet to fully leverage IBC for Productivity, Value maximisation: IBBI Chief
Indian companies have yet to fully utilize the Insolvency and Bankruptcy Code (IBC) as a tool to enhance productivity and achieve value maximisation, Ravi Mital, Chairperson of the Insolvency and Bankruptcy Board of India (IBBI), has said. Addressing a Global Summit on “Accelerated Value Creation for Sustainable Growth”, jointly organised by ASSOCHAM and CPA Australia,…
RBI files for insolvency proceedings against Aviom Housing
Mumbai: The Reserve Bank of India (RBI) on Thursday announced that it has filed an application for the initiation of a corporate insolvency resolution process (CIRP) against Aviom Housing Finance Pvt Ltd under the Insolvency and Bankruptcy Code (IBC) at the New Delhi Bench of the National Company Law Tribunal (NCLT). In a separate statement,…
NCLAT set aside penalty on lenders for delay in Mudra Denim insolvency process, ET Retail
The National Company Law Appellate Tribunal (NCLAT) has set aside the penalty imposed against lenders of debt-ridden Mudra Denim, saying there was no laxity on their part for delay in insolvency process. The Mumbai bench of the National Company Law Tribunal had, on November 11 last year, while deciding creditors’ plea seeking extension of deadline…
RBI files application for insolvency proceedings against Aviom India Housing Finance
The Reserve Bank on Thursday said it has filed an application with the National Company Law Tribunal, New Delhi bench, for initiation of corporate insolvency resolution process against Aviom India Housing Finance Private Limited. On Monday, the RBI superseded the board of Aviom India Housing Finance owing to governance concerns and defaults in meeting various…