Mumbai: The Bank of Maharashtra has joined three other lenders in labeling Reliance Communications’ ₹488 crore loan as fraudulent, deepening the telecom company’s troubles even as it awaits approval of its insolvency resolution plan. A Fourth Fraud Tag on a Collapsing Empire Reliance Communications Ltd. (RCOM), once a crown jewel of India’s telecom sector, now…
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Bank of Maharashtra Labels Reliance Communications Account as Fraudulent scanx.trade Read the original article here
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The Delhi High Court has made it clear that once a final winding up order has been passed against a Company and the Official Liquidator has taken charge, the Company Court is not required to come to the aid of guarantors so as to shield them from recovery proceedings initiated by creditors. A division bench…
The Insolvency and Bankruptcy Code (Amendment) Bill, 2025 aims to increase efficiency, speed and transparency. On the surface, the move to speed up and increase certainty in India’s insolvency regime appears to be the change we have been asking for. Reducing delays, strict deadlines and empowering creditors are the goals. However, if we look a…
These statutes constitute vital lifelines of Indian trade and commerce. While IBC focuses on corporate debt resolution, the remaining two address maritime claim enforcement. In common parlance, maritime liens are security interest recognized under maritime law, attaching to a vessel, certain types of claims such as seafarers’ wages, salvage, or damages from collision. These rights exist…
The National Company Law Tribunal (NCLT) at Bengaluru on October 17 declined to stay the Extraordinary General Meeting (EGM) of Aakash Educational Services Ltd (AESL) slated to be held on October 29 [Think & Learn Vs Aakash Education Services Limited]. A Bench of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada rejected the…