Can financial creditor approach NCLT while the petition is pending in NCDRC?
The homebuyers who wish to seek refund of their amount are legally entitled to approach National Company Law Tribunal (NCLT) under IBC.
Search Results for: insolvency provisions
IBC- Greatest rescue for the homebuyers
If there is no assured return plan incorporated into the builder buyer agreement entered into between the homebuyer and builder then the homebuyer had to approach RERA to seek refund.
Promoters and Shareholders Promoters are not Creditors under IBC
The shareholders and promoters are not the creditors and thereby the resolution plan cannot balance the maximization of the value of assets of the corporate debtor
Who all are Operational Creditors
operational creditors are those creditors where liabilities arise from transactions on operations.
Defaulting promoters cannot make backdoor entry in cases filed before Ordinance 2017 was passed
The government has made it clear that it doesn’t want any defaulting promoters back until they clear their dues.
IBC latest amendments have helped small stakeholders but delayed the process
The latest ordinance has brought about a lot of changes to the IBC giving relief to small stakeholders and homebuyers but this relief has caused delays in executing the process.
Promoters abusing IBC, contends stakeholders of TechPro and Educomp
The IBC in section 29A bars promoters to take part in bidding process thus making them ineligible for representation in the committee of creditors.
Indian Overseas Bank faces a bad loan of Rs.3,606.73 cr
Public sector lender Indian Overseas Bank’s net loss widened to Rs 3,606.73 crore in the March quarter due to higher provisioning for mounting bad loans.
India winning NPA War steadily- Bhushan Steel puts Rs.36,400 crore in Bank, a way to recovery
NPA War: The major buyout of debt-ridden Bhushan Steel by a Tata Group company and many more to come under the Narendra Modi-led government’s IBC reform.
RBI’s February Circular-Stressed Asset Resolution
The RBI’s February 12 circular on non-performing loans has stirred a hornet’s nest. Banks, India Inc and even the government are opposed to it and are vigorously lobbying the central bank
What are the Duties of Liquidator
The duties of liquidator have been elaborately mentioned in this article to make aware about his position as an Officer.
Powers and Fees of liquidation professional as liquidator
Their powers are extensive and under their purview the liquidation process of a corporate person is carried out.
Liquidation of Corporate Person- A way to recover bad debts
In this article we have discussed about liquidation, its initiation, contents and when Adjudicating Authorities can pass an order for it.
IBC provides relief under this code to Homebuyers and MSME’s
The government could soon promulgate an ordinance to make changes to the Insolvency and Bankruptcy Code that will provide relief to small businesses and homebuyers
Conflict between IBC and RERA
Both the IBC and RERA have the provisions where the probability for the conflict in their operations are very high.
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