The IBC has introduced new and distinct concepts of ‘Financial Creditor’ and ‘Operational Creditor’ as opposed to the Companies Act, 2013 which merely introduced the term ‘creditor’, without any classification thereof.
The regulator is planning to come out with a discussion paper on compliance with SEBI standards by listed companies undergoing insolvency resolution process.
In this article we have discussed about the procedures of filing a case before NCLT and the required documents.
Swedish telecom equipment manufacturer Ericsson has moved to Delhi High Court against Aircel and its units to get their debts back worth Rs.251.40 crore
The latest amendment bill of Insolvency & Bankruptcy, 2017 has been passed by the Lok Sabha to deal with recovery and reorganization in a speedy, reliable 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”
The Reserve Bank of India has suggested banks to report for insolvency complaints on their very own rather than watching for its commands.
The Centre moved a petition in the National Company Law Tribunal, which allowed the Centre to takeover the management of Unitech but it is now stayed by SC.
The Real Estate Regulation and Development Act (RERA) should have been enacted earlier to check the malpractices of builders, Prime Minister Narendra Modi said on Wednesday, following the Supreme Court’s stay on an NCLT order suspending real estate major Unitech directors and allowing the government to appoint its nominees in their place.
New Delhi: The Supreme Court on Thursday refused to grant extension of time to Jaiprakash Associates Ltd (JAL) to deposit Rs125 crore. The amount is to be deposited by the end of this month. JAL was seeking time until 31 January to deposit Rs125 crore. As of now, the company’s liability is Rs1,525 crores. “Comply with … Continue reading “SC refuses to grant more time to Jaiprakash Associates for depositing Rs125 crore.”
The relevant documents which are required to be filed are ready with the company and company is willing to file the same, if so permitted. Further, accounts of the company are audited and have been approved by the members within the prescribed time. The company has not deposited heavy cash during the demonetization period i.e. … Continue reading “ROC’s no objection to restoration of Companies”
The Reserve Bank of India surprised the banks on Friday night. For the cases being taken to the banker’s court, the RBI has made huge increase in provisioning. This may result in a jerk of Rs 50,000 crore in the financial year 2018. Two bankers aware of the RBI order have said this.
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