New Delhi, Jun 29 (KNN) The government has amended the Insolvency and Bankruptcy Code (IBC) to make it mandatory for the National Company Law Tribunal (NCLT) to admit insolvency applications filed by financial creditors once a payment default is established, a move aimed at reducing delays in corporate insolvency proceedings. Amendment Makes Admission of Insolvency…
The Madras High Court has held that a pending appeal before the National Company Law Appellate Tribunal (NCLAT) does not restrain a bank from proceeding with the Swiss Challenge auction of stressed assets. Aban Offshore Limited, a listed public company engaged in offshore drilling operations, had availed multiple credit facilities from PNB. Following persistent defaults, the account…
The Insolvency Service has published its latest ‘Confidence in the Regime’ report, which looks at how stakeholders across the insolvency community have received the actions and policies of the Insolvency Service. The latest report was commissioned to gauge the success of the organisation’s five-year strategy, now in its final year. The research sought the views…
To use this website, cookies must be enabled in your browser. 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 making requests to websites without cookies that had previously been set. This appears to be a…
Call for inquiry into firm’s £14m taxpayer-funded liquidation rejected Isle of Man Today Read the original article here
Irish corporate insolvencies remained broadly unchanged during the first half of 2026, with businesses continuing to show resilience despite persistent economic challenges, according to the latest Insolvency Barometer from PwC Ireland. The report found that 444 corporate insolvencies were recorded in the first six months of the year, only marginally higher than the 436 recorded…
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) has dismissed an avoidance application seeking reversal of an alleged preferential transaction worth ₹26.79 crore, holding that relief under Section 43 of the Insolvency and Bankruptcy Code (IBC) cannot be granted unless it is established that the Corporate Debtor itself granted the alleged preference. The…
An interim liquidators’ report found its investors faced a “substantial shortfall” and had a negative net asset position of nearly $12 million. On Monday, the High Court at Christchurch heard that the Chance Voight group was allegedly using new investor money for expenses. “Records reviewed indicate that interest, and in some cases redemption payments to…
Company to voluntarily wind up wholly owned Nishat Chunian Properties and dispose of 8 kanals, 7 marlas and 155 sq ft freehold land in Lahore after liquidation distribution Members of Nishat (Chunian) Limited have approved the voluntary winding up of Nishat Chunian Properties (Private) Limited, a wholly owned subsidiary of the company, according to resolutions…
Call for public inquiry into firm’s £14m taxpayer-funded liquidation rejected Isle of Man Today Read the original article here