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Bombay High Court: While hearing an application under Section 466 of the Companies Act, 1956 (Companies Act), a Single Judge Bench of Sharmila U. Deshmukh, J., declined to stay the winding up of Swadeshi Mills Company Ltd. (Swadeshi Mills). The Court reiterated that revival schemes must meet the triple test of bona fides, commercial morality,…
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Supreme Court Upholds Sarda Energy’s ₹19.5 Billion Resolution Plan for SKS Power scanx.trade Read the original article here
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The Supreme Court of India has ruled that simultaneous proceedings for the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC) can be maintained against both the principal debtor and its corporate guarantor. A bench comprising Justice Dipankar Datta and Justice Augustine George Masih held that a creditor is not required…
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JOHANNESBURG — Five miners who were trapped last week after a mudslide flooded a shaft remain unaccounted for and are “now presumed deceased,” the owners of the diamond mining company in South Africa said Wednesday, announcing that it had filed for liquidation and shut the mine. The incident occurred in the early hours of Feb.…
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