IBBI Introduces Amendments To Allow Homebuyers To Take Possession During CIRP

Liquidation

The Insolvency and Bankruptcy Board of India (IBBI) has introduced amendments to the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 through Notification No. IBBI/2024-25/GN/REG122, dated 03.02.2025. These amendments aim to enhance transparency and efficiency in the corporate insolvency resolution process (CIRP), particularly in relation to real estate projects. An Overview of Amendments to…

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Liquidation

Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently…

Business insolvencies increase by 6%

Liquidation

Latest figures from the Insolvency Service have shown that the number of registered business insolvencies in England and Wales in January 2025 was 1,971, 6% higher than in December 2024 (1,852) and 11% higher than the same month in the previous year (1,780). The business insolvencies consisted of 269 compulsory liquidations, 1,546 creditors’ voluntary liquidations…

Approval Of Resolution Plan Containing Clause Which Permits Creditors To Take Recourse Against Guarantees Cannot Be Interfered With: NCLAT

Liquidation

The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member) and Mr. Barun Mitra (Technical Member) has held that approval of a resolution plan containing a clause that creditors can take appropriate actions in relation to corporate/personal guarantee cannot be interfered with. Brief Facts: State Bank of India filed…

Listed Gateshead firm Zytronic to wind down

Liquidation

ManufacturingDeals Listed Gateshead firm Zytronic is to wind down operations after considering several options including solvent liquidation or a sale following a strategic review. A manufacturer of touch overlay sensors for interactive displays dating back to the 1940s, Zytronic employs more than 100 people. It appointed a new chair in 2023 in a bid to…