Thank you for reading this post, don’t forget to subscribe! Vedanta has approached the Supreme Court seeking a stay on Adani Enterprises’ resolution plan for Jaiprakash Associates. The dispute centers on alleged lack of transparency and rejection of Vedanta’s revised bid in the insolvency process. Mining company Vedanta Limited has approached the Supreme Court seeking…
Lok Sabha clears IBC amendment Bill; centre accepts all panel recommendations Moneycontrol.com Read the original article here
New Delhi: The Lok Sabha on Monday approved the Insolvency and Bankruptcy Code (Amendment) Bill, aimed at speeding up insolvency proceedings to resolve cases related to defaulting companies. The Bill introduces a mandatory 14-day timeline for admitting insolvency applications once a company’s default has been established. Finance Minister Nirmala Sitharaman said that the government has…
Jack Mason directed eight companies that were used to move more than £12 million through unauthorised bank overdrafts in 2021 to companies controlled by his associates Scott Dylan and David Antrobus All three were handed prison sentences for breaching freezing orders connected to the overdrafts, with only Dylan having served his sentence so far Mason,…
The Lok Sabha on Monday cleared the Insolvency and Bankruptcy Code (Amendment) Bill, paving the way for a shift from the the previous barely used fast-track resolution mechanism to a new framework that allows creditors to trigger insolvency proceedings. Finance Minister Nirmala Sitharaman said the Insolvency and Bankruptcy Code (IBC) has played a key role…
New Delhi, March 30 (IANS) The Lok Sabha on Monday approved the Insolvency and Bankruptcy Code (Amendment) Bill, aimed at speeding up insolvency proceedings to resolve cases related to defaulting companies. The Bill introduces a mandatory 14-day timeline for admitting insolvency applications once a company’s default has been established. Finance Minister Nirmala Sitharaman said that…
India’s banking sector is set for significant changes as lawmakers push for amendments to the Insolvency and Bankruptcy Code (IBC). Since its 2016 introduction, the IBC has been key to recovering bad loans (NPAs) and improving company oversight. The latest proposed changes aim to fix existing issues and align with international standards, but success will…
Suspended Director’s Writ Dismissed Despite Settlement Claim: Bombay HC Affirms IRP Sole Authority and Remitted Matter to NCLT [Read Order] Taxscan Read the original article here
The Lok Sabha on Monday passed the Insolvency and Bankruptcy Code (Amendment) Bill during the Parliament Budget Session. Finance Minister Nirmala Sitharaman replied to the discussion on the bill, which was sent back by the ‘Select Committee’. Sitharaman informed that the bill replaces the underutilised fast-track process, which was essentially a Corporate Insolvency Resolution Process…
Vedanta Flags Concerns Over JAL Insolvency Process; Records Show Adani Bid Backed by CoC, Tribunals goodreturns.in Read the original article here