Corporate insolvencies rise as directors “run out of road” – Azets – Insider Media Ltd
Corporate insolvencies rise as directors “run out of road” – Azets Insider Media Ltd Read the original article here
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Pendency Of Proceedings Elsewhere No Ground For Delay; NCLT Kochi Rejects Customs’ Claim Filed 787 Days Late
The National Company Law Tribunal (NCLT) at Kochi has recently held that the pendency of an appeal or any other proceeding before a different forum cannot be a valid ground for missing the strict deadlines for filing claims under the Insolvency and Bankruptcy Code (IBC), while refusing to condone a delay of 787 days by…
NCLAT Sets Aside EPFO’s Post‑Moratorium Claims [Read Order]
The National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi, has held that assessment of provident fund dues during moratorium under Section 14 of the Insolvency and Bankruptcy Code (IBC) is impermissible. Dismissing appeals filed by both the Resolution Professional (RP) and the Employees’ Provident Fund Organisation (EPFO), the Tribunal ruled that post‑moratorium claims…
Adani wins big in JAL battle with highest upfront payout
New Delhi: Business tycoon Gautam Adani has won the approval of creditors of Jaiprakash Associates (JAL) for its Rs14,535 crore acquisition proposal for the bankrupt infrastructure group. Adani Enterprises, the flagship firm of Adani Group, outbid Vedanta and Dalmia Bharat to win the bid for JAL. “The Committee of Creditors (COC) of Jaiprakash Associates Limited…
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Adani Wins Approval Of Jaiprakash Associates’ Creditors For ₹14,535 Crore Acquisition Proposal, Outbids Vedanta & Dalmia Bharat
New Delhi: Business tycoon Gautam Adani has won the approval of creditors of Jaiprakash Associates (JAL) for its Rs 14,535 crore acquisition proposal for the bankrupt infrastructure group. Adani Enterprises, the flagship firm of Adani Group, outbid Vedanta and Dalmia Bharat to win the bid for JAL. “The Committee of Creditors (COC) of Jaiprakash Associates…