Business Standard

Individual Bankruptcy

Bankrupt Tupperware cancels market auction, agrees to lender takeover

The lenders now poised to acquire Tupperware include Alden Global Capital, Stonehill Institutional Partners and a trading desk of Bank of America

Bankrupt Tupperware cancels market auction, agrees to lender takeover
Updated On : 23 Oct 2024 | 10:59 AM IST

Tupperware files for bankruptcy as its colourful containers lose relevance

The company listed $500 million-$1 billion in estimated assets and $1 billion-$10 billion in estimated liabilities

Tupperware files for bankruptcy as its colourful containers lose relevance
Updated On : 18 Sep 2024 | 11:24 AM IST

Courts cannot direct govt to notify law passed by Parliament, says SC

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.

Courts cannot direct govt to notify law passed by Parliament, says SC
Updated On : 22 Jan 2024 | 11:50 AM IST

Software firm Ebix files bankruptcy after short-seller attacks, debt woes

Publicly traded Ebix is the parent of Indian fintech company EbixCash, which facilitates payments, foreign exchange and prepaid gift cards.

Software firm Ebix files bankruptcy after short-seller attacks, debt woes
Updated On : 19 Dec 2023 | 12:03 AM IST

India's airlines: Both Go First and bankruptcy laws need a rescue

Insolvent airline Go First will be a test of whether the country is ready to rebalance creditors' rights and shareholders' privileges

India's airlines: Both Go First and bankruptcy laws need a rescue
Updated On : 24 May 2023 | 6:49 AM IST

Individual insolvency misuse by personal guarantors in govt cross hairs

Draft IBC amendments propose to remove 'perverse incentives'

Individual insolvency misuse by personal guarantors in govt cross hairs
Updated On : 19 Jan 2023 | 11:21 PM IST

New amendments to bankruptcy code look to boost returns of stressed assets

IBBI had invited comments from the stakeholders to suggest if parts of stressed assets could be sold off instead of as a whole

New amendments to bankruptcy code look to boost returns of stressed assets
Updated On : 19 Sep 2022 | 8:10 PM IST

Vijay Mallya loses bankruptcy petition amendment High Court battle in UK

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

Vijay Mallya loses bankruptcy petition amendment High Court battle in UK
Updated On : 18 May 2021 | 11:56 PM IST

When broke, apply for bankruptcy, but process could be excruciating

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

When broke, apply for bankruptcy, but process could be excruciating
Updated On : 23 Jul 2020 | 6:00 AM IST

Individual insolvency rules: Breach of personal guarantee is quite severe

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

Individual insolvency rules: Breach of personal guarantee is quite severe
Updated On : 24 Nov 2019 | 9:53 PM IST

Individual bankruptcy: Draft rules propose mediation over litigation

For the first time in India, debtors and operational creditors will be able to trigger insolvency once the individual insolvency code is notified

Individual bankruptcy: Draft rules propose mediation over litigation
Updated On : 08 Jun 2019 | 2:19 AM IST