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.
Search Results for: Insolvency Professional
Homebuyers relief is a matter of concern for financial Institutions to lend to developers
The homebuyers have got a huge sigh of relief, and are finding it easier to get their money back which was a big deal before the enactment of IBC.
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.
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.
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.
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
What is Moratorium and public announcement?
Once NCLT has issued moratorium under section 14 of Insolvency Code in respect of Company in liquidation, Bank cannot pursue proceedings for recovery of loan.
What further action can be taken by operational creditor on non-payment of debt?
This article is about the further actions to be taken by the Operational creditor after serving a demand notice on Operational debtor.
NCLT declares second round of bid invalid of ESSAR Steel
The Ahmedabad bench of the National Company Law Tribunal (NCLT) on Thursday asked the debt-laden Essar Steel’s committee of creditors
Provisions of IBC to be rechecked said Uday Kotak
The Government needs to re-look certain provisions of the Insolvency and Bankruptcy Code (IBC) as a situation might emerge where there is only one buyer for a stressed asset
Difference between Financial Creditor and Operational Creditor
The Insolvency and Bankruptcy Code (Amendment) bill 2017, describes the Financial Creditor and the Operational Creditor and the ambit of its applicability on creditor-debtor relationship.
Jyoti Structures faces liquidation of Rs.7000 Crore
Jyoti Structures, one of the 12 entities from the first central bank list to be taken to bankruptcy courts, would head into liquidation, inflicting a loss of Rs.7,000 crore on the affected bankers, people in the know told ET.
No wrongdoings, keen to deliver flats: Jaypee Group
Jaypee Group has said that there is no wrong doing on the unencumbered land of the group in favor of mother company Jaiprakash Associates (JAL).
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”
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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