Panel points out NCLT vacancies to MCA: How appointment delays are affecting resolutions – The Indian Express

The Parliamentary Standing Committee on Finance has called out the Ministry of Corporate Affairs on persistent vacancies in National Company Law Tribunals (NCLTs) leading to delays in corporate insolvency under the Insolvency and Bankruptcy Code (IBC). The committee has also recommended that the IBC be amended to prevent frivolous litigation and non-adherence to deadlines under…

NCLT admits application for initiating CIRP against McLeod Russel – Business Standard

The National Company Law Tribunal (NCLT), New Delhi Bench, on Friday, admitted an application for initiating a corporate insolvency resolution process (CIRP) against McLeod Russel India, the largest bulk tea producer in the country. In a stock exchange filing, the company said that an application had been filed by Techno Electric & Engineering Company against…

Business Protection Measures Fail To Stop Sharp Rise In Corporate Insolvencies Through Second Quarter Of 2021 – Bdaily

Member Article Government support for businesses during the pandemic has failed to prevent a significant rise in corporate insolvencies across England and Wales through the second quarter of the year – but it has still provided an essential lifeline for many struggling firms and stopped the situation being much worse. Thats the view of Alexandra…

Insolvency And Bankruptcy Code (Amendment) Bill, 2021 Passes In Rajya Sabha: Here Are The Key Highlights – Yahoo India News

Rajya Sabha has passed the Insolvency and Bankruptcy Code (IBC) Amendment Bill, 2021. Here are four key highlights of the amendment. The Rajya Sabha passed the amendment to the Insolvency and Bankruptcy Code (IBC), 2016 targeted towards simplification of insolvency procedure for micro, small and medium enterprises (MSMEs). This follows the repeal of the same…