Insolvency & Bankruptcy Code cannot override the Prevention of Money Laundering Act (PMLA), said appellate tribunal NCLAT, adding assets of an debt-ridden firm once attached by the Directorate of Enforcement (ED) and confirmed by competent authority cannot be released for its resolution. Under section 14 of IBC, a moratorium is applied on those assets for…
Corporate Debtor Liable: NCLAT Confirms CIRP Admission The National Company Law AppellateTribunal (NCLAT), in a recent ruling, upheld the initiation of the CorporateInsolvency Resolution Process (CIRP) against M/s Ace Engineering (India) Pvt. Ltd., rejecting claims that a One-Time Settlement (OTS) with personal guarantors extinguished the company’s debt. The appeal was dismissed on July 3, 2025.…
The Delhi bench of the National Company Law Appellate Tribunal (NCLAT) ruled that the issuance of a Provisional Attachment Order (PAO) by the Directorate of Enforcement (ED) under the Prevention of Money Laundering Act, 2002 (PMLA), does not violate the moratorium under Section 14 of the IBC. In this case, the appeal has been been…
In a recent case, the Cochin bench of the National Company Law Tribunal (NCLAT) dismissed the application filed by Canara Bank under section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, on failure to prove the claimed debt of 43 Crore. Canara Bank, Asset-Recovery Management Branch under Section 95 of the Insolvency & Bankruptcy…
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Aussie post production company that worked on Hollywood films collapses with nearly $4million debt MSN Read the original article here
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Developer defends ‘historic’ failures and big debts The Press Read the original article here
Developer defends ‘historic’ failures and big debts thepost.co.nz Read the original article here