Insolvency And Bankruptcy Code: RBI Deputy Governor Calls For Enforceable Code – What Does It Mean? – MSN
Insolvency And Bankruptcy Code: RBI Deputy Governor Calls For Enforceable Code – What Does It Mean? MSN Read the original article here
SC orders liquidation, forfeits Jalan Kalrock’s investment
New Delhi: In a significant development in the Jet Airways insolvency case, the Supreme Court on Thursday ordered the liquidation of the grounded airline, forfeiting Rs 200 crore invested by the successful bidder, Jalan Kalrock Consortium (JKC), and allowing the lenders led by SBI to encash a Rs 150 crore performance bank guarantee (PBG). Exercising…
Insolvency process: RBI Deputy Guv pitches for enforceable code of conduct for CoC
Reserve Bank of India (RBI) Deputy Governor Rajeshwar Rao. File. | Photo Credit: Reuters Reserve Bank Deputy Governor M. Rajeshwar Rao on Saturday (December 7, 2024) pitched for an enforceable code of conduct for the Committee of Creditors (CoC) under the insolvency resolution process. While emphasising that the Insolvency and Bankruptcy Code (IBC), which was…
Bombay HC Quashes ED’s Attachment Order Against V Hotels, Grants Relief Under IBC Immunity
Mumbai: In a major relief to V Hotels (formerly M/s. Tulip Hospitality Services Ltd), the Bombay High Court has quashed an attachment order issued by the Adjudicating Authority under the Prevention of Money Laundering Act (PMLA). This order followed a provisional attachment issued by the Enforcement Directorate (ED). V Hotels had challenged the provisional attachment…
NCLAT upholds insolvency order against Jaiprakash Associate
In a significant blow to Jaiprakash Associates Ltd (JAL), the debt-ridden parent company of the distressed Jaypee Group, the National Company Law Appellate Tribunal (NCLAT) on Friday dismissed its appeal challenging the company’s admission into insolvency. This decision affirms the National Company Law Tribunal’s (NCLT) 3 June order, which admitted JAL into insolvency proceedings based…
Videocon Industries schedules 44th meeting of creditors for corporate insolvency resolution, ET LegalWorld
The 44th meeting of the consolidated Committee of Creditors (CoC) for Videocon Industries Limited and 12 other Videocon group companies is scheduled for Tuesday, December 10, 2024. This meeting, a pre-facto intimation, adheres to the Insolvency and Bankruptcy Board of India regulations and addresses the ongoing consolidated corporate insolvency resolution process. Updated On Dec 7,…
Bankruptcy laws to be reviewed amid jump in business failures
Australia’s bankruptcy laws will come under the microscope in the most extensive review into insolvency in more than three decades, as the end of pandemic-era support prompts the collapse of financially stretched businesses. The inquiry is likely to recommend ways to simplify the country’s notoriously complex insolvency regime, but the Albanese government says it wants…
Videocon Industries schedules 44th meeting of creditors for corporate insolvency resolution – ETLegalworld
Videocon Industries schedules 44th meeting of creditors for corporate insolvency resolution ETLegalworld Read the original article here
Shoosmiths expands Corporate Restructuring & Advisory team with new London partner
Shoosmiths is pleased to announce the appointment of Jonathan Dunkley as a partner in its Corporate Restructuring & Advisory (CR&A) team. Jonathan is based in Shoosmiths’ London office, where he will play a key role in enhancing the firm’s CR&A capabilities. Jonathan joins Shoosmiths from Womble Bond Dickinson, where he led the London Restructuring and…
CoC Can Take Decision To Consolidate CIRP: NCLT
The Hyderabad bench of the National Company Law Tribunal ( NCLT ) held that the Comittee of Creditors ( CoCs ) can take decision to consolidate the Corporate Insolvency Resolution Process ( CIRP ). The application has been filed by the suspended director of M/s. Manjeera Retail Holdings Private Limited ( MRHPL ),Gajjala Yoganand which,…