Synopsis: Reliance Communications and its subsidiary Reliance Telecom are in the spotlight as certain RTL loans have been flagged as fraudulent by the Central Bank of India while the companies undergo CIRP. The shares of the penny stock company specializing in integrated telecom services, offering wireless/wireline, broadband, enterprise solutions (voice, data, IT), data centers and…
India’s Insolvency and Bankruptcy Code (IBC), 2016 was introduced as a transformative reform to resolve corporate distress in a time-bound, efficient, and value-maximising manner. While the law itself remains structurally sound, the institutional framework supporting it is under severe stress. Growing delays, capacity constraints, and jurisdictional overload have triggered a renewed policy debate: Does India…
Since its introduction in 2020, we’ve seen the Restructuring Plan process used by a number of businesses, including: Virgin Atlantic Airways, DeepOcean, Virgin Active, and Prezzo. A Restructuring Plan can be used for both SMEs and large corporates. Read our case study below where we advised on the landmark first use of the legislation to…
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The National Company Law Appellate Tribunal (NCLAT) Principal Bench at New Delhi has upheld the dismissal of a Section 7 application under the Insolvency and Bankruptcy Code, 2016, holding that no Corporate Insolvency Resolution Process (CIRP) can be initiated where the date of default falls within the period suspended by Section 10A during the COVID-19…
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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…