Insolvency Guardian Media Centre
The Mumbai Bench of the National Company Law Tribunal (NCLT) has dismissed six interlocutory applications filed by former employees of Yes Bank Limited, holding their claims for salary dues, provident fund, and other benefits were time-barred and filed after the corporate resolution plan had already been approved.
The Tribunal, comprising Judicial Member K.R. Saji Kumar and Technical Member Anil Raj Chellan, emphasized that the Insolvency and Bankruptcy Code (IBC) process is strictly time-bound. The claims were filed nearly 18 months after the Corporate Insolvency Resolution Process (CIRP) commenced against Yes Bank and subsequent to the approval of a resolution plan by the Committee of Creditors (CoC) on two…
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HECS cut: half the $16bn relief aids top earners and lets unis dodge hard questions The Australian
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The National Company Law Appellate Tribunal (NCLAT) at New Delhi has recently ruled that a company cannot avoid insolvency proceedings simply because it has not been operating for two years. A bench of Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra while upholding insolvency proceedings against Sant Kripa Appliances said, “the mere fact that CD was not functioning for…
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REVEALED: Latest business liquidations in Scenic Rim The Courier Mail
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