New Delhi, A former resolution professional has been arrested by the ED under the anti-money laundering law on charges of misusing the insolvency and bankruptcy framework leading to loss worth crores of rupees to public sector banks, the federal probe agency said. ED arrests insolvency Resolution Professional on money laundering charge Arvind Kumar, the RP…
However, Judge Rote noted that DHFL had undergone corporate insolvency resolution process (CIRP) on a petition filed by the Reserve Bank of India before the NCLT in Mumbai. The Court said DHFL satisfied the statutory conditions under Section 32A(1) – the resolution plan was approved under Section 31 IBC, it resulted in change in management…
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The Hon’ble High Court of Andhra Pradesh in the case of R K I Builders Private Limited v. The Superintendent of Central Taxes [WRIT PETITION NO: 32994/2025, order dated December 17, 2025] held that rejection of amendment application for GST registration (FORM GST REG-05) and suo motu cancellation of registration (FORM GST REG-19) ordered against…
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After cancelling last year’s event just weeks out, the company behind R&B music festival Souled Out has gone into voluntary administration with debts reportedly exceeding $1 million. Souled Out Pty Ltd had planned to return in February 2025 for a second year of the festival but cancelled the sold-out event, before entering administration last month.…
The bankruptcy court has ordered the admission of Gurgaon-based real estate developer Vatika Ltd under the corporate insolvency resolution process (CIRP) in an application filed by IDBI Trusteeship Services after the company defaulted on its dues of about Rs 274 crore. The Chandigarh bench of the National Company Law Tribunal (NCLT) has also appointed Jayant…
When a company gets put into a receivership, that’s usually a last-ditch effort to save the brand. “The receiver’s job is to literally operate the business,” said John Mark Jennings, a partner in the law firm of Shulman Hodges & Bastian LLP to Smart Business. “A receivership is an action brought against your company because…
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Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently…