Insolvency protection cannot become an instrument to perpetuate displacement or defer the constitutional promise of dignified housing, the Supreme Court underlined on Friday, stressing that the Insolvency and Bankruptcy Code (IBC) was never intended to shield developers who default, abandon performance or frustrate projects of public significance. Economic revival, the court held, cannot eclipse the…
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Company wound up following Insolvency Service investigations Insolvency Service investigations into Basic Prime Limited discovered concerns that the company was involved in fraud The company, which claimed to be based in Croydon, had no genuine business presence, contact details not in operation, and a director who failed to provide information and documents that were requested…