Supreme Court allowed several buyers to join their suit property in order to increase valuation of their dispute and approach the NCDRC however buyers still find it difficult to get timely relief from the NCDRC.
No suit or legal proceeding against the company can be commenced or continued against the company after the passing of the winding up order except with the permission of the Tribunal.
The officials feel that there is a need of having a few more powers which will enable the RERA Authority to issue certain directions.
The voluntary winding up or voluntary liquidation, as the code defines, of the company can take place under section 59 of the IBC.
In the cases against Ansal API Group one of the member Mr. Balwinder Singh has ordered Ansal Properties & Infrastructure Pvt. Ltd. to dispose off the grievances of the allottee within a week.
Some points have been discussed by Gurugram Bench of Haryana RERA has, in the case where the basic principle regarding the registration of project with RERA has been decided.
First arrest under the RERA. Anil Mithas, the promoter of IVR Prime IT Private Limited, was arrested on Friday after he failed to pay to the administration.
The IBC is playing a crucial role in helping the banks recover their bad debts and these vacations if avoided can help in resolving the mounting cases and help in ease of doing business.
The Supreme Court rejected an appeal by Dalmia Bharat , one of the bidder who lost out to UltraTech Cement in the second round of bidding, to stay the resolution process of Binani Cement.
The Essar Steel matter has raised a valid and crucial point of inordinate delays which is a big concern as it was the important provision of IBC, time bound resolution. If this purpose fails, the whole motive of IBC will fall apart.
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.
The old and archaic provisions to deal with sickness arising out of financial difficulties have been replaced by Insolvency and Bankruptcy Code, 2016.
Cheers to NCLT’s efforts for effectively complying with IBC and be able to resolve eigth high profile insolvancy cases within a year.
This article is about the further actions to be taken by the Operational creditor after serving a demand notice on Operational debtor.
In this article we have discussed about how an Operational creditor can file an application for initiation of Corporate Insolvency Process against it debtors.
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