2024-11-12T15:01:00

Spain

Assessment of the second year of implementation of the Spanish insolvency reform

A whistleblower from Ernst and Young India claims to expose a major corporate corruption case involving Byju’s insolvency. 

As per the whistleblower, Dinkar Venkatasubramanian of EY India allegedly managed the insolvency process for Byju’s on behalf of GLAS Trust, undermining the IBC, 2016. 

The whistleblower possesses 30GB of evidence, including emails from the interim resolution professional’s official ID, indicating collusion between GLAS and EY. 

Byju’s parent company, Think & Learn, was admitted to insolvency on July 16, 2024, despite GLAS’s prior involvement as an advisor for over two years.

Collusion in Formation of CoC

The text reveals alleged misconduct in Byju’s insolvency process involving GLAS, EY, and the appointed…

The bankruptcy court in Mumbai has allowed an application filed by the liquidator of Gitanjali Gems to exclude about 260 days from the liquidation process of fugitive diamantaire Mehul Choksi-promoted firm’s liquidation process. The company’s liquidator Santanu T Ray has sought exclusion for almost nine months due to ongoing investigations and proceedings under the PMLA (Prevention of Money Laundering Act) against the company and its promoters. The company was originally admitted under the Corporate Insolvency Resolution Process (CIRP) in October 2018.

The company’s total admitted liabilities stood at Rs 39,024 crore, which includes the admitted financial dues of over Rs 25,112 crore.

The division bench of Judicial member KR Saji…

New Delhi: Insolvency process against Coffee Day Enterprises Ltd (CDEL), which owns the Cafe Coffee Day chain, has resumed as appellate tribunal NCLAT could not pass the order within the specified deadline of February 21, set by the Supreme Court.

Last week, the Chennai bench of the National Company Law Appellate Tribunal (NCLAT) completed the hearing and reserved its order over the appeal filed by the director of its suspended board, CDEL informed through a regulatory filing.

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 making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser. This can be done through the following steps:

1. Open the settings menu by clicking the hamburger menu in the top right

2….

SYTECH, a multi-disciplinary consultancy, has further enhanced its leadership team by appointing John Kerrigan as non-executive director.

Kerrigan’s career spans nearly three decades, including co-founding Heron Group, operating as CEO and taking up the mantle of SVP at PAREXEL International, with a history of leading growth in the UK and US.

Furthermore, his track record details a decorated timeline of growing international businesses and leading consultancy and technical service provision for over 30 blue-chip clients.

Edgar Blazier, Founder of SYTECH said: “In the aftermath of our recent and continuing success at SYTECH, we felt that it was the right time to bring in somebody of John’s magnitude. His experience…

The National Company Law Appellate Tribunal (NCLAT) has held that relief under section 60(5) of the Insolvency and Bankruptcy Code, 2016 (Code) cannot be claimed against rejection of claims by the liquidator when the remedy provided under section 42 of the code against such decision has not been resorted to.

On June 14, 2017, M/s Varun Resources Ltd., the corporate debtor, was admitted to the Corporate Insolvency Resolution Proceeding (CIRP).  From July 23–27, 2017,…