More than 14 winding-up petitions are pending before the Delhi high court against Era Infra Engineering. Photo: Mint New Delhi: A special bench of the National Company Law Tribunal (NCLT) on Thursday reserved its ruling on whether to initiate insolvency proceedings against Era Infra Engineering Ltd, when winding-up petitions are pending against the company at…
The crunch by-election in the state seat of Northcote is getting nasty with one candidate saying her recent past of marriage breakdown and domestic violence has been dredged-up an attempt to damage her chances. The Greens say the story of their candidate Lidia Thorpe’s bankruptcy four years ago was being “shopped around” Melbourne media outlets in recent days.…
NEW DELHI: Discrepancies in the insolvency and the bankruptcy code was one of the missing links in the debt recovery regime of our country. After much deliberation, the Insolvency and Banking Code, 2016, was introduced to create a balance in the rights between creditors and borrowers and strengthen the position of creditors, as it appeared…
Updated: Oct 26, 2017, 10.38 AM IST The government is of the view that Insolvency and Bankruptcy Code (IBC) provides that the resolution plan will be binding on a company , its shareholders, lenders, employees, guarantors and other stakeholders if approved by NCLT. NEW DELHI: The government on Wednesday said insolvency resolution plans, such as…
NEW DELHI: The government on Wednesday said insolvency resolution plans, such as sale and transfer of assets, do not require approval from shareholders or the company as the law provides a detailed process from the receipt of the resolution plan to approval by the adjudicating authority. The clarification by the ministry of corporate affairs is…
A nearly three year old elevator insolvency case has been closed. Almost. It involves the Grand Forks Bean Company. That elevator dealt with edible beans. It went into insolvency after not being able to pay farmers claims. The last such claim has now been paid. The courts said Curt Amundson had a credit sale contract…
In his argument, Union Banks advocate said the IBC is a consolidating law relating to insolvency of corporate entities which provides for resolution of the corporate debtor before ordering liquidation. Citing legal precedents and rules under the Insolvency and Bankruptcy Code (IBC), Union Bank of India on Wednesday argued before the National Company Law Tribunal…
Anthony Joshua, 28, is said to be worth more than £16.7million He is currently preparing to defend his heavyweight title for the fourth time Joshua insists he will not follow in the footsteps of previous heavyweights who have lost their earnings By Mark Stainforth, Press Association Published: 02:48 AEDT, 26 October 2017 | Updated: 07:04…
NEW DELHI: Attorney General KK Venugopal on Tuesday strongly opposed in the Supreme Court a proposal by Jaiprakash Associates to hive off the Yamuna expressway to a Singapore-based company to raise Rs 2,000 crore it had been asked to deposit to meet refund demands by homebuyers for projects. Technically, the Yamuna Expressway is owned by…
Practice of promoters to bid in bankruptcy or insolvency cases is prevalent in developing countries Mumbai, October 25: As insolvency proceedings at some of 12 stressed accounts identified by the RBI earlier this year are moving forward, key question that has emerged is whether promoters of these companies are better placed to get back control…