The lenders now poised to acquire Tupperware include Alden Global Capital, Stonehill Institutional Partners and a trading desk of Bank of America
The company listed $500 million-$1 billion in estimated assets and $1 billion-$10 billion in estimated liabilities
The courts cannot direct the government to notify a law passed by Parliament, the Supreme Court said on Monday while dismissing a PIL seeking implementation of certain provisions of the Insolvency and Bankruptcy Code. "It is up to the government to notify a law passed by Parliament. This is beyond the power of the courts. Sorry, this is in the domain of policy. We cannot direct this," a bench of Chief Justice DY Chandrachud, Justice JB Pardiwala and Justice Manoj Misra said. "We cannot issue a writ of mandamus to the government that they shall notify the law," the Chief Justice said and referred to his judgment to this effect. The top court was hearing a PIL filed by one Seema B Qayyum, seeking directions to the Centre to notify one part of the Insolvency and Bankruptcy Code.
Publicly traded Ebix is the parent of Indian fintech company EbixCash, which facilitates payments, foreign exchange and prepaid gift cards.
Insolvent airline Go First will be a test of whether the country is ready to rebalance creditors' rights and shareholders' privileges
Draft IBC amendments propose to remove 'perverse incentives'
IBBI had invited comments from the stakeholders to suggest if parts of stressed assets could be sold off instead of as a whole
A consortium of Indian banks led by the State Bank of India (SBI) on Tuesday moved a step closer in their attempt to recover debt from loans paid out to Vijay Mallya's now-defunct Kingfisher Airlines
Though the Insolvency and Bankruptcy Code, 2016 came into effect on December 2, 2016, and has rules for individual bankruptcy too, they have not been notified yet
The law can help keep a check on instances where loans are given not on the basis of the debtor's creditworthiness, but because of a personal guarantor
For the first time in India, debtors and operational creditors will be able to trigger insolvency once the individual insolvency code is notified