Introduction In a significant ruling that reinforces the creditor-friendly framework of the Insolvency and Bankruptcy Code, 2016 (IBC), the National Company Law Appellate Tribunal (NCLAT) in Bindu Kapoor v. Sapan Mohan Garg (IRP) & Ors.[1] dismissed appeals filed by Bindu Kapoor, suspended director of Bliss Abode Pvt. Ltd. and Bliss House Pvt. Ltd., and upheld…
Following intensive negotiations between the parties over the past 24 hours, the request for an order to open insolvency proceedings against Benny Landa’s company, Landa Labs, has been withdrawn. Just one day after German corporation Altana Netherlands B.V. filed a request with the Central District Court to open proceedings against Landa Labs, the parties reached…
Many travel agencies that found specific niches continue to serve their market and run successful businesses in 2026. Yet it is also not the easiest industry to be in, given the current combination of lower consumer sentiment and the ease with which most can book their own flight tickets and hotels online. Travel agencies that…
Dutch company Altana BV, owned by German billionaire Susanne Klatten has filed a lawsuit in the Central District Court to open insolvency proceedings against serial entrepreneur Benny Landa tech development company Landa Labs. This is yet another company owned by Landa mired in a legal battle after printing company Landa Digital Printing and…
Zee Learn lenders withdraw insolvency petition at NCLT scanx.trade Read the original article here
Creditors of Curo Construction and its interiors subsidiary could get back 28p in the pound after a judge this morning (17 July) granted an application by the firm to appoint administrators. Curo Construction had faced a hearing next month into a winding-up petition brought by steelwork firm Nationwide Structures. But, at an insolvency hearing this…
15-year-old travel company ends in bankruptcy, cancels all trips thestreet.com Read the original article here
The Mumbai Bench of the National Company Law Tribunal (NCLT) has dismissed an insolvency plea filed by Phantom Studios India Pvt Ltd against Eros International Media Ltd. The Tribunal held that Phantom Studios’ claim for ₹1.48 crore arising from the parties’ co-production arrangement for the film NH10 did not qualify as an operational debt under…
Summary: In approving Ravelin’s CBCA plan of arrangement, the Court rejected a debentureholder’s attempt to carve out a proposed securities claim from the arrangement release, holding that distressed issuers are not required to provide “blow by blow” disclosure of non-binding restructuring negotiations before a transaction is ready to be announced. The debentureholder alleged that Ravelin…
German DIY store operator Hellweg and its subsidiary sales division, Baywa Bau & Garten, have applied to the Essen Local Court for insolvency proceedings under self-administration. The court has granted both applications. The company has announced that the management will retain full authority to act and issue instructions. There are two separate proceedings: one involving…