Suraksha ARC deal with Yes Bank under spotlight, ex-director flags fund routing

Suraksha Asset Reconstruction Company (ARC) is under scrutiny after a suspended director of Sapphire Land Development Pvt. Ltd. (SLDPL) accused it of fraud and regulatory violations in the company’s insolvency proceedings. The application, filed before the National Company Law Tribunal (NCLT) in Mumbai by former director Lakhminder Dayal Singh, alleged collusion between Suraksha ARC and…

strike out application dismissed as “hopeless and speculative” in the Insolvency and Companies Court – A Company -v- Visionary Future LLC & ors.

The Insolvency and Companies Court, in A Company -v- Visionary Future LLC & ors. (unreported), has dismissed an application by a company seeking to strike out, or alternatively restrain advertisement of, a winding-up petition brought by creditors. The judgment underlines the critical importance of providing proper and substantiated evidence in insolvency proceedings.  Lewis Silkin acted…

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