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NEW DELHI: A parliamentary panel has suggested establishing dedicated benches or verticals for insolvency cases at the National Company Law Tribunal (NCLT) to expedite disposal of such matters as well as ensure that the tribunal gives equal attention to cases under the Companies Act. Apart from the principal bench and the New Delhi bench, NCLT…
New Delhi: Dissenting lenders have alleged that five entities linked to media baron Subhash Chandra‘s family together controlled 61.78 per cent of the voting share and were instrumental in pushing through his personal insolvency resolution plan, which proposes to pay just Rs 6.5 crore against admitted creditor claims of about Rs 22,006.57 crore. The lenders…
Glass manufacturer Hindusthan National Glass and Industries Ltd (HNGIL) has initiated the insolvency process against B9 Beverages Ltd, the company behind Bira 91 beer, by issuing a demand notice over an alleged payment default of Rs 11.77 crore. The glass manufacturer has issued the notice under Section 8 of the Insolvency and Bankruptcy Code (IBC),…
Hindusthan National Glass and Industries Ltd (HNGIL) has served a default notice on B9 Beverages Ltd, the maker of the Bira 91 range of beer, as it plans to drag the debt-ridden brewer to the insolvency tribunal NCLT. | Photo Credit: bl-online Administrator Hindusthan National Glass and Industries Ltd (HNGIL) has served a default notice…
A prominent liquidator appointed to take charge of the assets of dozens of defaulted borrowers has revealed he is actually a personal investor in the lender who appointed him and that his firm vets the company’s loans. Hall Chadwick managing partner Richard Albarran disclosed that Blackbird Capital Group has referred 50 matters to his firm…
New Delhi: Hindusthan National Glass and Industries Ltd (HNGIL) has served a default notice on B9 Beverages Ltd, the maker of the Bira 91 range of beer, as it plans to drag the debt-ridden brewer to the insolvency tribunal NCLT. HNGIL, a container glass manufacturer, has issued the notice under Section 8 of the Insolvency…
FRIDAY EDITION Did Treasury declare US ‘insolvent’? Here’s the bottom line In March 2026, posts claimed the U.S. Department of the Treasury declared the U.S. government insolvent, which would mean the government had lost its ability to repay its debts. The rumor spread after the Treasury published financial statements last Monday for the previous fiscal…
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…