Reliance Infra Ltd faces curb on trading in shares, seeks review of insolvency-linked surveillance framework

New Delhi: Reliance Infrastructure Ltd on Sunday said that it has sought a review of the insolvency-related surveillance framework, under which trading in the company’s stock is allowed only once a week. Reliance Infrastructure Limited, in a statement, said it has submitted a formal representation to the Securities and Exchange Board of India (SEBI), National…

Reliance Infrastructure Calls for Review of Trading Restrictions Amid IBC Concerns, ETLegalWorld

Reliance Infrastructure Ltd on Sunday said it has approached the market regulator, SEBI, and the stock exchanges, NSE and BSE, seeking a review of the Insolvency and Bankruptcy Code (IBC)-linked surveillance framework that has placed its shares under additional trading restrictions. “Reliance Infrastructure Limited has submitted a formal representation to the Securities and Exchange Board…

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RP Can Recover Corporate Debtor’s Assets from Unauthorized Occupants Without Resorting to Civil Suit: NCLAT [Read Order]

The National Company Law Appellate Tribunal (NCLAT) has reiterated that a Resolution Professional (RP) is empowered to recover possession of a corporate debtor’s assets from unauthorized occupants through proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC) and need not initiate a separate civil suit for eviction. The matter arose after the commencement of the…