Did the FSCA break the law by handing over investigation records in a court case against Banxso (Pty) Ltd? That’s one of the questions Judge Andre le Grange will decide when he hands down his judgment. Banxso wants certain evidence thrown out of court – evidence its former client used to back a provisional liquidation…
New Delhi [India], May 28 : Fewer companies went through the insolvency process under the Insolvency and Bankruptcy Code (IBC) in financial year (FY) 2025, according to the credit rating firm ICRA. As per the ICRA, only 724 companies were admitted for insolvency, a sharp 28 per cent drop from 1,003 in the previous year.…
The National Company Law Tribunal Bench of Shri Mahendra Khandelwal (Judicial Member) and Shri Atul Chaturvedi (Technical Member) the absence of a formal loan agreement does not defeat the existence of a financial debt. Documentary evidence such as tax filings (Form 26AS), TDS deductions, ledger entries, financial statements, and written acknowledgments are sufficient to establish…
Suspended Management Cannot Disburse Funds Of Corporate Debtor Post-CIRP Commencement Without… Live Law Read the original article here
The Corporate Insolvency and Bankruptcy Laws Bar Association, established to promote the study and advancement of corporate, insolvency, bankruptcy, economic, and allied laws, has submitted a representation to the Hon’ble Chairperson of the NCLAT on May 28, 2025, seeking the early constitution of a second bench at NCLAT, Chennai. They stated that On 25.01.2019, in…
NCLT : CIRP Cannot be shield to corporate applicant to avoid legally recoverable government dues Taxscan Read the original article here
“A bankruptcy proceeding is not a death sentence but a chance for a fresh start.” — Elizabeth Warren In India, Bankruptcy and Insolvency since a long time have been critical issues in the financial sector, which impacts businesses, creditors, and the overall economy. Insolvency refers to as a situation where a debtor…
Tech (© ) Since July 2024, a creditor information system (GIS) is mandatory for all German insolvencies according to the German legislator. McJustice has spent the last few months developing a portal in the cloud that is able to handle the entire insolvency process online in the cloud. Security is particularly important here due to…
Justice Dehinde Dipeolu of the Federal High Court, Lagos, has ordered the United Bank for Africa Plc., (UBA) to immediately pay the Liquidator of Addy Finance & Investments Limited (in liquidation), the sums of N39,108,417 and $53,078.04, with pre-judgment interest at 20 per cent and post-judgment interest at 10 per cent yearly. The court also…
According to a CareEdge Ratings report in March, BPSL has long-term/ short-term bank facilities worth ₹14,030 crore and commercial paper of ₹1,000 crore on its books. The report said that the company’s profitability showcased improvement in FY24, largely on the back of an increase in the sale of value-added steel products. BPSL, which owed ₹47,200…