The National Company Law Appellate Tribunal (NCLAT) observed that Section 60(1) expressly provides for the NCLT to function as the Adjudicating Authority for Personal Guarantors to Corporate Debtors, thereby aligning such cases procedurally with corporate insolvency proceedings under Part II, even though the substantive provisions are rooted in Part III. The Appellate Tribunal clarified that…
A consortium of Indian banks, led by State Bank of India, on Wednesday won their court appeal in London to uphold a bankruptcy order against Vijay Mallya in a long-standing legal battle seeking repayment of a judgment debt owed by his now-defunct Kingfisher Airlines. High Court judge Anthony Mann ruled in favour of the banks…
Unruly Technologies, a company specializing in blockchain technology and digital currencies, has filed a request with the Tel Aviv District Court to initiate insolvency proceedings due to severe financial difficulties. The company, which developed the blockchain platform behind the digital currency Spacemesh, sought to offer an alternative to Bitcoin’s consensus mechanism. Its vision centered on…
German LRV manufacturer battles insolvency International Railway Journal Read the original article here
Fugitive liquor baron Vijay Mallya suffered another legal setback in the UK as the High Court upheld a bankruptcy order against him, rejecting multiple appeals and ruling decisively in favour of a consortium of Indian banks led by State Bank of India. “The bottom line in relation to this is that the bankruptcy order stands,”…
Ackman: Many small businesses will go bankrupt if Trump doesn’t pause tariffs soon The Hill Read the original article here
High Court judge Anthony Mann ruled in favour of the banks to allow an appeal heard in February, while refusing two applications seeking permission to appeal filed by the 69-year-old businessman, declared a fugitive and wanted for fraud and money laundering charges in India. Last Updated : 09 April 2025, 11:45 IST Read the original…
Insolvency-related activity up by 23 per cent across Buckinghamshire and region Bucks Herald Read the original article here
NCLAT Clarifies Appellate Jurisdiction In Personal Guarantor Insolvency Cases Under IBC BW Legal World Read the original article here
London: A consortium of Indian banks, led by State Bank of India, on Wednesday won their court appeal in London to uphold a bankruptcy order against Vijay Mallya in a long-standing legal battle seeking repayment of a judgment debt owed by his now-defunct Kingfisher Airlines. High Court judge Anthony Mann ruled in favour of the…