Page 39 - Insolvency And Bankruptcy Code

NCLAT upholds NCLT order to initiate insolvency against Meenakshi Energy

A three-member bench has dismissed the plea filed by its director and its shareholder India Power Corporation Ltd observing that the company had committed default

Many companies are in default due to force majeure clauses: IBBI Chief

M S Sahoo said that the average life of S&P 500 companies has reportedly reduced from 90 to 18 years over the last century

NCLAT rejects plea challenging NCLT's resolution plan of Uttam Value Steel

Uttam Value Steels has an admitted debt of Rs 3,003 crore

Focus remains on restoring normalcy in operations: DHFL administrator

The pure play mortgage player is the first non-banking financial company/housing finance company to face a corporate insolvency resolution process

SBI invokes personal guarantees of Bhushan Power & Steel promoter

Action against Sanjay Singal comes within days of the Finance Ministry asking banks to invoke personal guarantees in all insolvency cases

Akhil Gupta's family firm bids for debt-laden Videocon Industries

Gupta, who worked for Bharti Airtel for 18 years, made the bid for Videocon via Avanti Investments, run by his son, Anubhav Gupta

Liquidation process can allow public auction of non-realisable assets: IBBI

Says if auction is not possible, the assignment--transferring the rights and obligation of an asset--may be done on arm's length basis by the liquidator

No corporate insolvency proceedings once debt converted into capital: NCLAT

The appellate tribunal also said that any investment cannot be "financial debt"

SC makes CEOs liable if telecom companies fail to pay AGR dues

CEO asked to furnish personal guarantee within four weeks; order alarms professional managers

Delhi HC stays insolvency resolution proceedings against Anil Ambani

Ambani had given personal guarantees for the Rs 565 crore and Rs 635 crore SBI loans to RCom and Reliance Infratel (RITL), respectively, in August 2016

RBI's order could spell trouble for ARC-owning PE funds, say experts

The RBI had recently rejected a resolution plan - approved by the National Company Law Tribunal in June - that proposed selling Aircel's assets to UV Asset Reconstruction Company (UVARC)

Bad bank not only necessary but unavoidable in present situation: Subbarao

D Subbarao made a strong case for setting up a bad bank saying it is not just necessary but unavoidable in the present circumstances when NPAs are likely to balloon

Sebi's higher float proposal for IBC firms could run into hurdles

Several legal experts plan to highlight the challenges in implementing all three options recommended by the regulator

Videocon Industries: Between a long-drawn IBC process and a hard place

The former giant of the Indian corporate world is caught on the shoals of a long-drawn insolvency process even as lenders face the prospect of losing most of their money

AGR case: Supreme Court puts spectrum users in the dock on IBC firms' dues

Such telcos should pick up AGR bill, says apex court

NCLT agrees to hear SBI's bankruptcy case against Anil Ambani

The ruling is the most high-profile insolvency case against a founder who pledged to pay loans on behalf of their companies

AGR case: Supreme Court fears bankruptcy proceedings may consume dues

Justice Mishra observed under the IBC spectrum trading was different from spectrum sale

Sebi proposes to increase minimum free float for firms post-insolvency

Sebi proposal follows surge in Ruchi Soya stockprice; higher disclosure norms on the cards

Sebi may relax minimum public shareholding norms for firms under insolvency

The market regulator has proposed relaxing norms pertaining to 25 per cent minimum public shareholding for companies that undergo corporate insolvency resolution and seek relisting afterwards

NCLAT sets aside insolvency proceedings against Ansal Properties and Infra

A three-member NCLAT bench observed that a decree-holder cannot be treated as financial creditor for the purpose of triggering insolvency proceedings against a company