NCLAT approves insolvency proceedings against Jaypee Cement Corp, rejecting appeals. Debt default proved; CIRP to proceed despite parent company’s restructuring efforts. New Delhi, Jun 2 (PTI) The insolvency appellate tribunal has approved the insolvency proceedings against the debt-ridden Jaypee Cement, upholding an earlier order passed by the National Company Law Tribunal (NCLT). A two-member bench…
Liquidated firewood supplier’s gear goes under the hammer TheBusinessDesk.com Read the original article here
IBBI notifies amendments to streamline corporate insolvency process YourStory.com Read the original article here
New Delhi: The IBBI has notified amendments to the regulations governing corporate insolvency, aiming to streamline procedures, protect creditor interests, and encourage greater investor participation in resolution processes. The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency Resolution Process for Corporate Persons Fourth Amendment regulations, 2025 on May 26, according to a release.…
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