The NCLT has allowed the State Bank of India to start personal insolvency proceedings against Anil Ambani regarding alleged unpaid guarantees worth ₹1,200 crore. This legal development brings focus to the complex issue of promoter personal liability in India. While the industrialist intends to appeal, the case highlights potential governance risks and uncertainty for the…
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Unsecured creditors of the Bluesfest music festival, owed more than $7 million, can expect a dividend of less than 11¢ in the dollar as a liquidator probes unusual transactions among a web of companies controlled by its founder. Peter Noble, the owner of Bluesfest, one of Australia’s largest music festivals, announced the festival’s cancellation three…
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Failure to Implement Approved Resolution Plan Amounting to Contravention: NCLT Orders Liquidation of Agrotech Pvt. Ltd. u/s 33 IBC Taxscan Read the original article here
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