Mumbai, April 2, 2025: The National Company Law Tribunal (NCLT), Mumbai Bench-IV, has admitted an insolvency petition filed by Maheshwari Fuelchem Private Limited under Section 9 of IBC against New Bombay Paper Mills Private Limited for a default of ₹3.02 crore. The tribunal ordered the initiation of the Corporate Insolvency Resolution Process (CIRP) and declared a moratorium under Section 14…
The bench found that the MSME Council Awards were passed in 2011 and had attained finality in 2013, whereas the present Application was filed on 23.03.2022. The National Company Law Tribunal (NCLT) Mumbai bench has ruled that, in accordance with Article 137 of the Limitation Act, 1963 (Limitation Act) read with Section 238A of the…
Experts Call for Judicial Oversight in Business Recovery at 8th Annual Insolvency Conference Nilepost News Read the original article here
Date published: 10 April 2025 The Department for the Economy (the Department) has accepted a disqualification undertaking from the director of a company involved in fitness facilities. The undertaking was received for seven years from Michael John Lennon (40) of Upper Springfield Road, Belfast, in respect of his conduct as director of Hybrid Fitness NI…
Hanmer building company’s debt to unsecured creditors rises to $1.2m The Press Read the original article here
Fresh debt fight for Zorzi-linked business The West Australian Read the original article here
The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Arun Baroka (Technical Member) and Mr. Barun Mitra (Technical Member) has held that statutory obligations must be fulfilled during insolvency proceedings; however, this does not mean that statutory dues including provident fund claims can be submitted even after…
VerSe Innovations Private Limited, a reputed Bangalore-based technology company, formally files the application initiating personal insolvency proceedings under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 against Akshay Bardapurkar, a producer from the Marathi film industry and the face of Planet Marathi, alleging serious financial default and breach of contractual commitments. The matter relates…
The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Rakesh Kumar Jain (Judicial Member) and Mr. Naresh Salecha (Technical Member) has held that when the extended Corporate Insolvency Resolution Process (CIRP) period has expired and no resolution plan has been approved, it is incumbent upon the Resolution Professional to file an application…
NCLAT Dismisses IDBI Bank’s Insolvency Appeal against ZEE Moneylife Read the original article here