NCLT Allows Liquidation of Reliance Capital ltd, Appoints Liquidator [Read Order]

The Mumbai bench of the National Company Law Tribunal (NCLT) allowed the liquidation of Reliance Capital Ltd. with the provision of the Insolvency and bankruptcy Code(IBC), 2016 and appointed the liquidator. The Application has been filed under Section 33(2) of Insolvency and Bankruptcy Code, 2016 (“theCode”) read with applicable provisions of the Insolvency and Bankruptcy…

Teneo Continues Global Expansion With Acquistion of PwC’s Australia Business Restructuring Unit

Teneo, the global CEO advisory firm, today announced a major expansion of its fast-growing global business with an agreement to acquire PwC’s Australia Business Restructuring Services unit. The transaction further extends Teneo’s market-leading presence across Asia-Pacific, providing its Financial Advisory business with a strong foothold in the Australian market. The team will offer a wide…

EBITDA during CIRP: Who owns it?

The Insolvency and Bankruptcy Code (IBC) was enacted to consolidate and streamline the insolvency resolution process for corporates, partnership firms, and individuals in a time-bound manner. It aims to hasten the resolution process and thereby maximize the value of the assets of such entities. The IBC seeks to balance the interests of all stakeholders, including…