Universal Buildwell resolution plan approved by NCLT

The National Company Law Tribunal (NCLT) has approved the Rs 55.6 crore resolution plan for Universal Buildwell Private Limited submitted byUniversal Aura Welfare Association, Universal Greens Buyers Association and Universal Business Park Owners Association, marking a significant step in the corporate insolvency resolution process (CIRP) that began in 2018. The resolution plan has been approved by…

Can corporate debtors avoid regulatory actions during moratoriums? Legal experts weigh in, ET LegalWorld

Highlights The Supreme Court ruled that the interim moratorium under Section 96 of the Insolvency & Bankruptcy Code, 2016, does not protect corporate debtors from penalties under the Consumer Protection Act, 1986, emphasizing the importance of consumer protection regulations during insolvency proceedings. Legal experts clarified that the moratorium applicable to corporate debtors under Section 14…