NCLAT Upholds CIRP Initiation by Central Bank Against Corporate Guarantor Despite Stamping and Novation Contentions, Dismisses Appeal of SEPL’s Ex Director [Read Order]

The National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi, has dismissed an appeal filed by Siddharth Satish Katariya, Ex-Director of Superfine Extrusions Private Limited (SEPL), challenging the initiation of Corporate Insolvency Resolution Process (CIRP)by Central Bank against the company, pointing to insufficient stamping. The Tribunal upheld the order of the National Company Law…

Falling insolvencies could be positive for North East

The North East branch of R3, the UK’s restructuring, turnaround, and insolvency trade body, says the recent improvement is welcome but warns that business leaders remain cautious amid ongoing economic uncertainty. New figures from the Insolvency Service show corporate insolvencies in England and Wales dropped by 1.7 per cent in August to 2,048, down from…

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