The Corporate Insolvency and Governance Act 2020 (CIGA or the Act) has introduced new procedures and measures to seek to rescue companies in financial distress as a result of the COVID-19 pandemic and the resulting economic crisis. CIGA came into force on June 26, 2020 after a speedy progression through Parliament, following the publication of…
Online auction house Grays.com is unlikely to be part of Quadrant’s highlights reel when its dealmakers are sweet-talking investors for the next fundraising. But, after several attempts at an exit and six years on from buying a controlling stake, the private equity firm has finally found the business a new home. On Thursday night, family-owned…
Introduction The Corporate Insolvency and Governance Act 2020 (CIGA or the Act) has introduced new procedures and measures to seek to rescue companies in financial distress as a result of the COVID-19 pandemic and the resulting economic crisis. CIGA came into force on June 26, 2020 after a speedy progression through Parliament, following…
Many businesses and industry groups are currently advocating for the Treasurer to extend the temporary six month exemption from insolvent trading liability for directors – due to expire on 25 September 2020 – and to also adopt other interim relief measures such as a prohibition on liquidators recovering unfair preference payments to creditors. It had…
Independent Sugar Corporation Limited (INSCO), a part of Uganda-based Madhvani Group, said it had completed the acquisition of Hindustan National Glass & Industries Limited (HNGIL), a container glass manufacturer, through the Insolvency and Bankruptcy Code (IBC) process. On Friday (September 26, 2025), in a duly convened meeting of HNGIL’s newly constituted board, the company formally…
Revitalizing HNGIL: A New Chapter Begins Under Ugandan Leadership Devdiscourse Read the original article here
New Delhi, Sep 27 (PTI) Independent Sugar Corporation, an Uganda-based Madhvani Group firm, has announced the completion of its acquisition of debt-ridden glass manufacturer Hindustan National Glass & Industries through the Insolvency and Bankruptcy Code process. On Friday, in a duly convened meeting of Hindustan National Glass & Industries Limited’s (HNGIL) newly constituted board, the company…
Context The Insolvency and Bankruptcy Code (Amendment) Bill, 2025 seeks to address persistent delays, promoter resistance, and judicial ambiguities in India’s insolvency framework while reinforcing creditor-driven, time-bound resolutions. Insolvency and Bankruptcy Code (IBC), 2016 – Overview Enacted in 2016 to consolidate and amend laws relating to reorganisation and insolvency resolution of companies, partnerships, and…
Madhvani Group’s INSCO takes full control of HNGIL after IBC resolution Moneycontrol Read the original article here
New Delhi: The Supreme Court Friday upheld the resolution plan of JSW Steel Limited to acquire Bhushan Power and Steel Limited (BPSL), as it allowed a batch of review petitions that had questioned its earlier order to liquidate the company. A bench of Chief Justice of India B.R. Gavai and Justices S.C. Sharma and K.…