Appellate tribunal NCLAT has upheld the decision of the National Company Law Tribunal (NCLT) to recall a previous ruling for an insolvency case against real estate firm Logix Infrastructure after finding the debt claim as “fraudulent” and “malicious”. A two-member NCLAT bench said the plea for CIRP (Corporate Insolvency Resolution Process) against Logix Infrastructure, which…
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In a recent case, the Cuttack bench of the National Company Law Tribunal(NCLT) admitted the application of IDBI Bank filed under section 7 of the Insolvency and Bankruptcy Code,2016 (IBC) as the Corporate Debtor acknowledged the one-time Settlement (OTS) on due debt within period of limitation. IDBI Bank Limited, the applicant, filed the application through…
Starleaton went into liquidation yesterday, with creditors informed in a statement titled ‘General Update on the Deed of Company Arrangement’ issued by Simon Cathro and Andrew Blundell from Cathro & Partners. Here’s a timeline of movements since the company entered into voluntary administration in January last year: 19 January 2024: Starleaton surprises the industry entering…
The National Asset Reconstruction Company (NARCL), a government-backed bad loan bank, is selling the debt of Wind World India. The debt, which was acquired for Rs 3,763 crore approximately 18 months ago, has a reserve bid set at Rs 1,250 crore. Omkara ARC has emerged as the anchor bidder, matching the reserve bid of around…
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Another home builder goes bust MSN Read the original article here
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REVEALED: Latest business liquidations in Wyndham Herald Sun Read the original article here
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