The proposed amendments to the Insolvency and Bankruptcy Code (IBC) such as introduction of group insolvency, cross-border insolvency and creditor-initiated insolvency are encouraging as they could boost recovery rates which been persistently low due to the lengthy resolution process, according to a report released on Monday. The strengthening of NCLT and NCLAT manpower along with…
Synopsis: The company’s shares have fallen around 3 percent following its report to the RBI about the borrowing fraud committed by the erstwhile promoters, with fraud totalling Rs 2,343 crore. The shares of the company which is one of the leading banking and financial services providers owned by the Government of India, are in focus…
Introduction The Insolvency and Bankruptcy Board of India’s latest modification to the Corporate Insolvency Resolution Process (CIRP) framework marks a significant regulatory pivot toward transparency, accountability, and legal certainty. The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Seventh Amendment) Regulations, 2025, sharpen the focus on beneficial ownership disclosures and calibrate…
REVEALED: Latest business liquidations in Logan The Courier Mail Read the original article here
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CREDITORS of the Bentleigh East based building firm, Langford Jones Homes, have been advised by the liquidator, RSM Australia Partners, that the firm entered into external administration on July 1, 2022. A resolution, to go into voluntary… Published July 05, 2022 …
The Kerala High Court held that an order passed by the National Company Law Tribunal (NCLT) rejecting a resolution plan is appealable under Section 61 ofthe Insolvency and Bankruptcy Code, 2016 (IBC), and that the availability of such a statutory remedy bars the invocation of writ jurisdiction. The dispute arose when MMS Steel & Power…
The Delhi High Court has quashed criminal proceedings initiated under Section 138 of the Negotiable Instruments Act, 1881 (NI Act) against the former directors of a private limited company. The Court held that dishonour of cheques with the remark “ACCOUNT BLOCKED” due to ongoing insolvency and liquidation proceedings does not constitute an offence under Section…