Category: Corporate Litigation-All In Way

Debtors of Alok Industries could not be located, says RP

Steps taken by the resolution professional (RP) for Alok Industries to recover trade outstanding to the tune of Rs 11,622 crore from 5,293 debtors

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Appellate tribunal stays NCLT order allowing promoter to bid for firm

An appellate tribunal has stayed the order of the National Company Law Tribunal (NCLT) allowing the promoter of MBL Infrastructure to bid for his insolvent company. It also stayed the resolution plan for the company. The Kolkata bench of the NCLT had allowed the promoter of MBL Infrastructure, Anjanee Kumar Lakhotia, to place a resolution … Continue reading “Appellate tribunal stays NCLT order allowing promoter to bid for firm”

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Lanco lenders to searching for time extension to complete insolvency process

The committee of lenders (COC) of LancoInfratech (LIPL) determined to are searching for an extension of time from National Company Law Tribunal (NCLT) to complete the continuing insolvency decision process as the lenders need to have a full clarity on feasible situations of decision. “The COC had held a meeting on Monday and determined to … Continue reading “Lanco lenders to searching for time extension to complete insolvency process”

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NCLAT getting clogged up; Appellate body has no competition regulation professional

Tribunals have been predicted as a solution to judicial delays and a tool to harness fee-effectiveness, accessibility, expedited functioning, professional understanding and freedom from technicalities getting used as pace-breakers. Nevertheless, fact seems pretty unique as a long way as opposition appeals are worried. The Indian competition adjudicatory shape includes the Competition Commission of India (CCI) … Continue reading “NCLAT getting clogged up; Appellate body has no competition regulation professional”

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Loan default disclosure: SEBI set to restore shelved inspiration

The Securities and Exchange Board of India (SEBI) has framed a plan for listed organizations to reveal loan defaults to inventory exchanges as soon as they arise, reviews the Economic Times. Sources told the paper that the thought can be provided to the board of the markets regulator on December 28 and stated that SEBI … Continue reading “Loan default disclosure: SEBI set to restore shelved inspiration”

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NCLT gives Shirdi Industries to promoters, offers hope to others

In a landmark judgement which may assist different promoters who are combating to defend their organizations, Mumbai-primarily based laminates maker Shirdi Industries has come to be the first case where a National Company Law Tribunal (NCLT) exceeded an order that allowed the corporation to be surpassed over to the same promoters for implementing the decision … Continue reading “NCLT gives Shirdi Industries to promoters, offers hope to others”

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Big terrible loan monster is eating away India’s economic growth: IMF

India horrific loans presently have soared to whopping Rs 9.5 lakh crore. It’s not only a huge quantity, it’s a large monster that is eating away India’s financial increase. IMF in a document said India’s key banks seem resilient, however the device is situation to huge vulnerabilities. “The economic sector is going through great demanding … Continue reading “Big terrible loan monster is eating away India’s economic growth: IMF”

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Why closing-in-queue creditors report maximum insolvency lawsuits in India

Indiaʹs new financial disaster law is getting most traction from an uncommon set of lenders, people with the least to benefit from pushing corporations into the insolvency process. Operational or unsecured creditors, who have dues that are not backed via any collateral, might be los angeles st in queue to be repaid once an insolvency … Continue reading “Why closing-in-queue creditors report maximum insolvency lawsuits in India”

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Banks can take advantage of the IBC to easy up their balance

The Reserve Bank of India has suggested banks to report for insolvency complaints on their very own rather than watching for its commands.

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NCLT declines extending the deadline for liquidation

National Company Law Tribunal (NCLT) declined to extend the deadline for finalizing a rescue plan for the insolvent firm beyond the mandatory 270-day

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