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Jet Airways liquidation: A wake-up call for India’s insolvency code
1 month, 2 weeks ago

Jet Airways liquidation: A wake-up call for India’s insolvency code

Live Mint  

New Delhi: The Supreme Court’s decision ordering the liquidation of Jet Airways, once India’s leading airline, has provided sufficient fodder for bankruptcy experts urging for an overhaul of India’s insolvency framework. JKC’s repeated non-compliance with the terms of the resolution plan caused the value of the plan to diminish significantly," said Devesh Dubey, senior associate at Sanjay RPK Law, a …

India Supreme Court Court Insolvency Resolution Crore Airline
Weekly Digest Of IBC Cases: 03rd June 2024 To 09th June 2024
6 months, 2 weeks ago

Weekly Digest Of IBC Cases: 03rd June 2024 To 09th June 2024

Live Law  

HIGH COURTS Official Liquidator Must Adhere To Ethical Principles And Fairness To Discharge Their Duties Under IBC: Delhi High Court Case Title: Sundaresh Bhat vs Insolvency And Bankruptcy Board of India Case No. 105, 106, 990 of 2024 The National Company Law Appellate Tribunal Delhi, comprising Mr. Justice Rakesh Kumar Jain, Mr. Naresh Salecha, and Mr. Indevar Pandey held that …

Law Justice Insolvency National Title Company Judicial
SC Upholds Validity of Key Provisions of Insolvency and Bankruptcy Code
1 year, 1 month ago

SC Upholds Validity of Key Provisions of Insolvency and Bankruptcy Code

News 18  

The Supreme Court on Thursday upheld certain key provisions of the Insolvency and Bankruptcy Code amid the claim of several petitioners that that they are violative of fundamental rights like the right to equality of those against whom insolvency proceedings are initiated. A bench comprising Chief Justice D Y Chandrachud and justices J B Pardiwala and Manoj Misra decided as …

Constitution Right Code Provisions Ibc
Coffee Day bankruptcy process: Application filed under IBC Section 7
1 year, 3 months ago

Coffee Day bankruptcy process: Application filed under IBC Section 7

Live Mint  

As part of the ongoing bankruptcy process of coffee chain firm Cafe Coffee Day, an application has been filed against the company under Section 7 of the Insolvency and Bankruptcy Code. According to a regulatory filing by Coffee Day Enterprises to the stock exchanges September 8, the application is filed by IDBI Trusteeship Services before National Company Law Tribunal for …

Coffee Nclt Filed Hegde Ccd Coffee Day
IBC to invest ₹8,000 crore in Karnataka to make batteries
1 year, 6 months ago

IBC to invest ₹8,000 crore in Karnataka to make batteries

The Hindu  

The leadership team of International Battery Company, an American firm, that is planning to invest ₹8,000 crore in setting up a proprietary Lithium Nickle Manganese Cobalt prismatic cell manufacturing plant in Karnataka on Monday met M.B. IBC plans to set up a non-captive gigafactory and invest ₹8,000 crore for land, plant and machinery and building. The Minister said given the …

Ibc Lithium Cell
NCLT admits Go First insolvency plea, puts it under moratorium
1 year, 7 months ago

NCLT admits Go First insolvency plea, puts it under moratorium

Business Standard  

The NCLT has appointed Abhilash Lal of Alvarez and Marsal interim resolution professional to take charge of the airline. The tribunal said the professional should ensure that employees of the airline were not laid off The Delhi Bench of the National Company Law Tribunal on Wednesday accepted Go First’s insolvency plea, resulting in the airline being put under a moratorium …

Aviation Insolvency Order Tribunal Airline Nclt Moratorium
Monthly Digest Of IBC Cases: December 2022
1 year, 11 months ago

Monthly Digest Of IBC Cases: December 2022

Live Law  

Supreme Court Provisional Attachment Under PMLA Subsequent To Initiation Of CIRP: Supreme Court To Consider The Issue Case Title: Ashok Kumar Sarawagi v Enforcement Directorate & Anr. : Company Appeal No.1375 of 2022 The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan, Dr. Alok Srivastava and Mr. Barun Mitra, has held that the only question to …

Law Mumbai Supreme Court Court Corporate Affairs Corporate Debtor Title
"IBC Does Not Protect The Interest Or Claim Of A Partner Against Another Partner Or The Firm": NCLT Mumbai
2 years, 5 months ago

"IBC Does Not Protect The Interest Or Claim Of A Partner Against Another Partner Or The Firm": NCLT Mumbai

Live Law  

The National Company Law Tribunal, Mumbai Bench, comprising of Justice P. N. Deshmukh and Shri Kapal Kumar Vohra, while adjudicating a petition filed in Parul A Vora v Kavya Buildcon Pvt. Ltd., has held that the Insolvency and Bankruptcy Code, 2016 does not protect the interest or claim of a Partner against another Partner or the Partnership Firm. The Petitioner …

Respondent Firm Bench Partner Petitioner Ibc Vora
For better IBC recoveries, incentivize resolution professionals
3 years, 3 months ago

For better IBC recoveries, incentivize resolution professionals

Live Mint  

While the Indian Bankruptcy Code has been under fire for low recoveries, my previous column showed that despite value erosion at disbursal due to poor credit discipline, when compared to alternate resolution mechanisms and Chapter 11 bankruptcies in the US, the IBC has yielded impressive recoveries so far. This is less visible under the IBC because, unlike Chapter 11 where …

Resolution Bankruptcy Chapter 11 Chapter Ibc Liquidation Resolution Professionals
DHFL shares may get delisted post acquisition by Piramal
3 years, 6 months ago

DHFL shares may get delisted post acquisition by Piramal

Live Mint  

Debt-ridden mortgage firm DHFL's shares would be delisted from stock exchanges post acquisition by Piramal Capital and Housing Finance, which has emerged as the successful bidder for the company. As part of resolution process under the Insolvency and Bankruptcy Code, lenders led by Union Bank of India in January this year favoured the bid by Piramal Capital and Housing Finance …

Finance Resolution Company Crore Nclt Rbi Ibc