Liquidation as a going concern is an effort to maximise value & save firms under insolvency | INTERVIEW – The Financial Express

Nitin Jain is the official liquidator for PSL Group — recently liquidated as a going concern. In an effort to maximise the value of a company undergoing insolvency proceedings, the bankruptcy court has allowed for liquidation of the company as a going concern. This amendment tries to stitch all the assets of the company as…

NCLT can’t allow tweaks in a successful resolution plan: SC – The Hindu

The Supreme Court on Monday held that the National Company Law Tribunal (NCLT) cannot permit withdrawals or modifications of a successful resolution plan, once it has been submitted to it after due compliance with the procedural requirements and timelines, solely at the behest of the resolution applicant. This would only create another tier of negotiations…

Raising Concern over Delays in Corporate Insolvency Resolution Processes , the … – Latest Tweet by IANS – LatestLY

Raising concern over delays in corporate insolvency resolution processes (CIRP), the #SupremeCourt on Monday asked the National Company Law Tribunal and the National Company Law Appellate Tribunal to strictly adhere to the mandated 330-day timeline. pic.twitter.com/yMMSonvO4G IANS Tweets (@ians_india) September 13, 2021 (SocialLY brings you all the latest breaking news, viral trends and information from…

Jet Airways set for 2022 revival: reports | News | Flight Global – Flightglobal

Jet Airways will reportedly recommence operations in the first quarter of 2022 under new owners the Jalan-Kalrock consortium more than two years after it shuttered amid financial woes. Indian news reports, citing consortium lead member and businessman Murari Lal Jalan, say the carrier will resume domestic operations first, before expanding to short-haul destinations in the…

Corporate Insolvency Resolution Process has to be completed in 330 days: Report – Free Press Journal

The Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC) has to be completed within the 330-day deadline prescribed under the law, the Supreme Court ruled on Monday (Ebix Singapore v. Committee of Creditors of Educomp), according to a news report. “Judicial delay was the reason why the earlier insolvency regime failed…

Reebonz files voluntary liquidation, reportedly caved under liabilities worth SG$65m – Marketing Interactive

Luxury marketplace Reebonz has reportedly caved under liabilities estimated to be around SG$65 million and according toThe Business Timeshas appointed a provisional liquidator to wind up the company. Co-founder Samuel Lim took out notices in BT on 10 September to alertcreditors that Reebonz is “in creditors’ voluntary liquidation”. Lim explained in the notice that Reebonz…

Widow sues Daintree zip-line company, engineers for millions after husband falls to his death – ABC News

The wife of a man who died after plunging from a zip-line in Far North Queensland has launched a multi-million-dollar lawsuit against those she holds responsible. Key points: The family of zip-line victim launch a multi-million-dollar lawsuit in Cairns court Adelaide man Dean Sandersondied after falling while on the Jungle Surfing Canopy Tours apparatus His…

The Share of #corporate Insolvency Resolution Processes Initiated by Corporate … – Latest Tweet by IANS – LatestLY

The share of #corporate insolvency resolution processes (CIRP) initiated by corporate debtors themselves have declined over the years since the inception of the Insolvency and Bankruptcy Code (IBC). pic.twitter.com/ID18dQz0OM IANS Tweets (@ians_india) September 11, 2021 (SocialLY brings you all the latest breaking news, viral trends and information from social media world, including Twitter, Instagram and…