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Can an “outsider” be held liable for fraudulent trading for transacting with a company engaged in fraudulent activity? Should the limitation period for claims accruing to a (restored) company be suspended for the period during which it was dissolved? The Supreme Court addressed these questions on 7 May 2025 in Bilta (UK) Ltd (in liquidation)…
In a significant legal development, the National Company Law Appellate Tribunal (NCLAT) has dismissed the appeal by Byju’s, the prominent edtech firm, seeking permission for an equity fund raise by its subsidiary, Aakash Educational Services. This decision upholds an earlier order by the National Company Law Tribunal (NCLT) to maintain the current shareholding structure of…
Over 300 workers retrenched without pay as CCIC Singapore enters liquidation after US sanctions The Online Citizen Read the original article here
Toys R Us enters voluntary administration MSN Read the original article here
After Chapter 11 bankruptcy, fast-food chain faces liquidation MSN Read the original article here
Singapore-based Chinese firm CCIC faces liquidation after layoffs Dimsum Daily Read the original article here
Toys R Us collapses again, goes into administration Inside Retail Asia Read the original article here
The National Company Law Appellate Tribunal (NCLAT), Chennai bench comprising Justice Sharad Kumar Sharma (Judicial Member) and Jatindranath Swain (Technical Member) have held that where proceedings under Section 95 of the Insolvency and Bankruptcy Code (IBC) have already been initiated by one Financial Creditor, a subsequent application under the same provision by another creditor against…
The Role of Insolvency Systems in Transforming Corporate Cultures: The Study of India Abstract An efficient insolvency system is key to the idea of creative destruction. Creative destruction is a process by which new innovations replace existing ones that are rendered obsolete over time. To sustain the process of creative destruction, there must be a…