The National Company Law Tribunal (NCLT) has penalised corporate defaulters for attempting to misuse the moratorium provisions under the insolvency law to escape auction of assets by lenders under the Sarfaesi (The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest) Act. Dismissing the insolvency petition filed by Neeta Chemicals, NCLT’s Hyderabad bench…
Supreme Court has stayed the insolvency proceedings against real estate firm Jaypee Infratech New Delhi: The Supreme Court today stayed the insolvency proceedings against real estate firm Jaypee Infratech at National Company Law Tribunal (NCLT), Allahabad at the instance of its financier IDBI. It also issued notice to embattled firm and others on a plea…
The Supreme Court on Monday stayed an order passed by the Allahabad bench of the National Company Law Tribunal (NCLT) on Jaypee Infratech. The Allahabad bench of the tribunal had accepted IDBI Bank’s plea and classified Jaypee Infratech as insolvent. A bench headed by chief justice of India (CJI) Dipak Misra was hearing a public…
Business and personal insolvency experts, Fortis Insolvency, has selected encompass verify to support and enhance their Know Your Customer (KYC) compliance processes. Manchester-based Fortis Insolvency provide advice and support to business and individuals across the north west who may be facing financial and operational issues. The only provider of simultaneous, real-time access to multiple sources…
New Delhi, Sept 4: The Supreme Court today stayed the insolvency proceedings against real estate firm Jaypee infratech at the National Company Law Tribunal (NCLT), Allahabad at the instance of its financier IDBI. It also issued notice to the embattled firm and others on a plea filed by homebuyers who have not yet received possession…
(Adds details, shares) Sept 4 (Reuters) – Avocet Mining said on Monday its subsidiary Societe des Mines de Belahouro (SMB), which operates the Inata gold mine in Burkina Faso, may file for insolvency after a loan repayment freeze with its creditors expired. The boards of SMB and Avocet will meet on Sept. 8 to consider…
By: Express Web Desk | New Delhi | Published:September 4, 2017 1:45 pm Buyers protest against Jaypee over delay in handing over flats Related News On a petition by home buyers, the Supreme Court on Monday stayed the order passed by National Company Law Tribunal (NCLT) which had declared Jaypee Infratech as insolvent. The court also…
CLOSED: The former site of Stepping Stone restaurant. Photo: PHIL BLATCH 0904pbanson3 The bankrupt owner of the failed Orange restaurant Stepping Stone has apologised for leaving creditors with debts totalling $236,974. Tom Grasso closed the Anson Street restaurant in May as the debts mounted and was declared bankrupt on June 27. Orange wineries, suppliers, caterers, a…
Sep 04, 2017 01:17 PM IST | Source: CNBC-TV18 Around 32,000 homebuyers, who have not yet been given their flats as promised by Jaypee especially in the Delhi NCR region, face uncertainty over their investment in housing projects by the insolvency order The Supreme Court Monday stayed the insolvency proceedings against Jaypee Infratech, ruling in favour…
In a big relief for Jaypee homebuyers, the Supreme Court has stayed the National Company Law Tribunal (NCLT) proceedings against the builder. The NCLT had, while acting on an insolvency plea, filed by Jaypee Infratech Limited stayed all pending proceedings before all judicial and quasi-judicial bodies leaving aggrieved homebuyers with no legal remedies, buyers had…