News Muncher - category insolvency proceedings

Ola Electric share price drops 6% amid insolvency proceedings against subsidiary by Rosmerta Digital Services

Ola Electric share price slumped almost 6% during Monday's trading session after Rosmerta Digital Services Ltd, its vehicle registration service provider, announced on Saturday that it intends to initiate insolvency proceedings against Ola's wholly-owned subsidiary, Ola Electric Technologies Pvt Ltd. Rosmerta Digital Services Ltd, which is an operational creditor of Ola Electric Technologies Pvt Ltd, has filed a petition under …

Price Company Ola Ola Electric Insolvency Proceedings Rosmerta Digital Services Electric Share

1 week, 5 days ago

Rosmerta Digital seeks initiation of insolvency proceedings against Ola Electric's subsidiary

The Hindu

Ola Electric Mobility Ltd on Saturday said its vehicle registration service provider Rosmerta Digital Services Ltd has sought the initiation of insolvency proceedings against its wholly owned arm Ola Electric Technologies Pvt Ltd. Rosmerta Digital Services Ltd, an operational creditor of Ola Electric Technologies Pvt Ltd." The petition has been submitted before the National Company Law Tribunal's Bengaluru Bench, alleging …

Electric Ola Insolvency Proceedings Ola Electric Mobility Rosmerta Digital

2 weeks, 1 day ago

Which Jurisdictional Route Should 'Personal Guarantors' Take - NCLT Or DRT?

Live Law

The excerpts from the famous poem by Robert Frost, The Road Not Taken,—“Two roads diverged in a yellow wood, And sorry I could not travel both…”—aptly illustrate the challenge of choosing the right forum or the 'Adjudicating Authority' for insolvency resolution process of personal guarantors under the Insolvency and Bankruptcy Code, 2016. Sub-section of section 60 of the code provides …

Corporate Corporate Debtor Tribunal New Delhi Held Nclt Proceedings

2 weeks, 4 days ago

Supreme Court Weekly Digest With Subject /Statute Wise Index [March 01 to 09]

Live Law

Supreme Court Weekly Digest March 2025 274 to 2025 LiveLaw 297) Advocate Advocate-Client Relationship - Undertakings given by advocates must be with the client's express authorization. 4 SCC 307, Lavanya C v. Vittal Gurudas Pai, 2025 LiveLaw 290 Code of Criminal Procedure, 1973 Section 319 and 401 - Summoning Additional Accused - Revisional Jurisdiction - Relation Back - Trial Court's …

India Tamil Nadu Delhi Supreme Court High Court Goa Trial

3 weeks, 2 days ago

Builders can’t use insolvency to evade penalties: Top court

Hindustan Times

The Supreme Court on Tuesday ruled that developers cannot evade monetary penalties imposed for consumer rights violations under the guise of insolvency proceedings, underlining that allowing such a practice would erode consumer trust and worsen the already vulnerable position of homebuyers due to possession delays and contract breaches. The ruling came while the court dismissed an appeal filed by Saranga …

Consumer Court Insolvency Regulatory Consumer Rights Penalties Moratorium

3 weeks, 2 days ago

IBC Moratorium Does Not Bar Execution Of Penalties Imposed Under Consumer Protection Act : Supreme Court

Live Law

In a significant development, the Supreme Court today ruled that an interim moratorium under Section 96 of the Insolvency & Bankruptcy Code, 2016 does not apply to penalty proceedings under Section 27 of the Consumer Protection Act, 1986. The bench comprising Justices Vikram Nath and Prasanna B. Varale delivered the verdict where the property builder, who faced multiple penalties imposed …

Consumer Supreme Court Protection Court Insolvency Consumer Protection Act Regulatory

3 weeks, 4 days ago

Coffee Day Enterprises stock jumps 20% after NCLAT sets aside insolvency proceedings

The Hindu

Shares of Coffee Day Enterprises, which owns the Cafe Coffee Day chain, on Monday jumped 20% to hit its upper circuit limit after the National Company Law Appellate Tribunal set aside the insolvency proceedings against the company. Last month, the insolvency proceedings against CDEL were resumed as the appellate tribunal NCLAT could not pass the order within the specified deadline …

Insolvency Coffee Order Set Insolvency Proceedings Tribunal Nclat Coffee Day Enterprises

3 weeks, 4 days ago

Coffee Day Enterprises rallies 18% as NCLAT sets aside insolvency proceedings; up over 40% in 2 days

Live Mint

Shares of Coffee Day Enterprises Ltd surged nearly 18 percent in intraday trading on Tuesday, March 4, marking their second consecutive session of strong gains. This follows a 20 percent surge in the previous session after the National Company Law Appellate Tribunal dismissed insolvency proceedings against the company, boosting investor sentiment. The case, filed by IDBI Trusteeship Services over an …

Insolvency Nclt Proceedings Nclat Insolvency Proceedings Company Stock Sets Aside

1 month ago

NCLAT sets aside insolvency proceedings against Coffee Day Enterprises

Live Mint

The National Company Law Appellate Tribunal on Thursday set aside insolvency proceedings against Coffee Day Enterprises Ltd, the parent company of Café Coffee Day, dismissing a bankruptcy plea filed by IDBI Trusteeship over an alleged ₹228 crore default. Case history The dispute dates back to September 2023, when IDBI Trusteeship approached the Bengaluru bench of the NCLT seeking insolvency proceedings …

Insolvency Coffee Company Nclt Proceedings Nclat Insolvency Proceedings

1 month, 2 weeks ago

NCLT asks BCCI to seek creditors’ nod for ₹158 crore Byju’s settlement

Live Mint

The Bengaluru insolvency court on Monday directed the Board of Control for Cricket in India to submit a ₹158 crore settlement plea before the Committee of Creditors to obtain approval for its settlement with bankrupt edtech firm Byju’s in order to facilitate the company’s exit from insolvency. Byju’s sought a settlement after its suspended management cleared the ₹158 crore dues—an …

Financial Insolvency Settlement Order Crore Nclt Bcci

1 month, 3 weeks ago

Byju’s insolvency: Suspended directors challenge NCLT ruling reinstating lenders, cite prejudice

Live Mint

Suspended directors of the bankrupt edtech firm Byju’s have approached the National Company Law Appellate Tribunal, challenging a Bengaluru insolvency court’s decision to reinstate its lenders as financial creditors while failing to rule on its ₹158 crore settlement with the Board of Control for Cricket in India. Why the settlement matters Had the NCLT approved Byju’s settlement with BCCI, the …

Insolvency Settlement Company Crore Nclt Bcci Nclat

NCLT rejects Akshay Kumar’s insolvency plea against edtech Cue Learn

Live Mint

The National Company Law Tribunal's Delhi bench has dismissed Bollywood actor Akshay Kumar’s plea to initiate insolvency proceedings against ed-tech company Cue Learn Pvt. Kumar had rendered services under the agreement, including an endorsement day on 8 March 2021, with deliverables such as TV commercials used by Cue Learn on its social media platforms. In response, Cue Learn argued that …

Insolvency Operational Debt Second Nclt Kumar Insolvency Proceedings

2 months, 2 weeks ago

NCLAT dismisses appeal to stay insolvency proceedings against Indrajit Power

Live Mint

New Delhi, Jan 12 The National Company Law Appellate Tribunal has dismissed a plea to stay the insolvency proceedings against debt-ridden thermal power producer Indrajit Power. The appellate tribunal said "no error has been committed" by the National Company Law Tribunal, while admitting the plea to initiate insolvency proceedings against the Maharashtra-based company on February 1, 2024, filed by Yes …

Nclt Nclat Insolvency Proceedings Indrajit Power

2 months, 3 weeks ago

Annual Digest Of IBC Cases: 2024

Live Law

Supreme Court Case Title: Ansal Crown Heights Flat Buyers Association vs. M/S. : Company Appeal No.231 of 2023 The National Company Law Appellate Tribunal, New Delhi, comprising Justice Ashok Bhushan and Mr. Barun Mitra, has held that the Corporate Debtor cannot be absolved from its liability to discharge its Operational debt by the Insurance Company's payment to the Operational Creditor …

India Justice Delhi Mumbai Supreme Court High Court Corporate

3 months, 1 week ago

2024 year-end review: How legal precedents and IBC reforms reshaped India's financial system

Firstpost

The Indian banking system has undergone significant changes in recent years, largely due to the growing economy and increased consumer spending. Recovery statistics and IBC The enactment of the Insolvency and Bankruptcy Code in 2016 marked a transformative change in India’s banking and corporate law, providing a responsive framework for reorganising distressed corporate debtors and maximising their value. Creditors have …

India Court Insolvency Resolution Indian 2024 Value

3 months, 3 weeks ago

Establishing “Pre-Existence Disputes” Under The IBC Regime

Live Law

The Insolvency and Bankruptcy Code was enacted to facilitate timely resolution to insolvency proceedings, maximisation of value of assets of the debtors, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders. However, the section has been liberally interpreted by the Supreme Court in Mobilox Innovations Private Limited Vs. Kirusa Software Private Limited, wherein it has …

Corporate Dispute Insolvency Operational Disputes Tribunal Notice

3 months, 3 weeks ago

Byju’s insolvency: Riju Raveendran approaches NCLT to seek inclusion in case

Live Mint

New Delhi: Riju Raveendran, the largest shareholder of edtech company Byju’s and brother of founder Byju Raveendran, approached the insolvency tribunal on Monday, seeking to be included in the insolvency case deliberations involving the troubled firm, its lenders and the cricket board. They argued that the settlement was tainted as it involved stolen money and questioned how Riju Raveendran could …

Insolvency Settlement Crore Nclt Bcci Insolvency Proceedings Byju

3 months, 3 weeks ago

SpiceJet insolvency claims: Are creditors leveraging IBC forum for settlements?

Live Mint

India’s bankruptcy courts are indignant at being used by creditors as a tool to recover dues from companies that are not really bankrupt, and for wasting their time. “SpiceJet’s case highlights a growing trend where creditors use the IBC forum to pressure corporate debtors into settlement," said Alay Razvi, managing partner at law firm Accord Juris. “SpiceJet’s case is unusual, …

Law India Insolvency Settlements Claims Bankruptcy Nclt

4 months, 2 weeks ago

BCCI seeks withdrawal of insolvency proceedings against Byju’s

Live Mint

The Board of Control for Cricket in India on Tuesday sought an urgent hearing for its plea to withdraw an insolvency case against edtech firm Byju’s. The BCCI’s counsel requested that the NCLT in Bengaluru prioritize the withdrawal application, arguing that if the withdrawal is granted, it would render other pleas, such as those by US-based Glas Trust and Aditya …

Court Insolvency Settlement Nclt Bcci Nclat Insolvency Proceedings

6 months ago

NCLAT grants two weeks time for Supertech township's settlement proposal

Hindustan Times

New Delhi, Sep 27 The Insolvency appellate tribunal NCLAT has granted two weeks more time to debt-ridden realty firm Supertech Township Projects suspended director Ram Kishore Arora to circulate the settlement proposal to both its lenders and home buyers. Insolvency appellate tribunal NCLAT has granted two weeks more time to debt-ridden realty firm Supertech Township Projects suspended director Ram Kishore …

Insolvency Bank Proposal Project Nclat Supertech Insolvency Proceedings

6 months ago

SC reserves verdict on plea against NCLAT order stopping insolvency proceedings against Byju's

New Indian Express

NEW DELHI: The Supreme Court on Thursday reserved its verdict on a plea of a US firm against the NCLAT order stopping insolvency proceedings against ed-tech firm Byju's. While hearing the matter on Wednesday, the top court had questioned the verdict of insolvency appellate tribunal NCLAT, setting aside the insolvency proceedings against Byju's and approving its Rs 158.9 crore dues …

Insolvency Insolvency Proceedings Byju Nclat Order

6 months ago

NBCC moves SC to complete stalled projects of realty major Supertech Ltd

Hindustan Times

New Delhi, Sep 24 The state-owned NBCC on September 24 moved the Supreme Court seeking to develop and complete embattled realty major Supertech Limited's 17 stalled or partially built projects where around 27,000 hassled home buyers are stuck for years. NBCC on September 24 moved the Supreme Court seeking to develop and complete embattled realty major Supertech Limited's 17 stalled …

Court Home Buyers Realty Greater Noida Nclat Insolvency Proceedings Nbcc

6 months, 2 weeks ago

Byju's insolvency proceedings case: Supreme Court to hear plea on September 17

The Hindu

The Supreme Court on Wednesday said it will hear on September 17 the appeal of U.S.-based creditor Glas Trust Company LLC against a judgment of the National Company Law Appellate Tribunal, which had stayed insolvency proceedings against ed-tech firm BYJU’s and approved its ₹158.9 crore dues settlement with the Board of Control for Cricket in India A Bench comprising Chief …

Court Insolvency Settlement Case Company Crore Proceedings

6 months, 3 weeks ago

SC agrees to list plea related to insolvency proceedings against ed-tech firm Byju's

New Indian Express

NEW DELHI: The Supreme Court on Friday agreed to list for an early hearing the appeal of US-based creditor Glas Trust Company LLC against a judgment of the NCLAT, which had stayed insolvency proceedings against ed-tech firm BYJU's and approving its Rs 158.9 crore dues settlement with the BCCI. A bench comprising Chief Justice D Y Chandrachud and Justices J …

Insolvency Proceedings Byju

Filters

Articles for Insolvency Proceedings

Ola Electric share price drops 6% amid insolvency proceedings against subsidiary by Rosmerta Digital Services

Rosmerta Digital seeks initiation of insolvency proceedings against Ola Electric's subsidiary

Which Jurisdictional Route Should 'Personal Guarantors' Take - NCLT Or DRT?

Supreme Court Weekly Digest With Subject /Statute Wise Index [March 01 to 09]

Builders can’t use insolvency to evade penalties: Top court

IBC Moratorium Does Not Bar Execution Of Penalties Imposed Under Consumer Protection Act : Supreme Court

Coffee Day Enterprises stock jumps 20% after NCLAT sets aside insolvency proceedings

Coffee Day Enterprises rallies 18% as NCLAT sets aside insolvency proceedings; up over 40% in 2 days

NCLAT sets aside insolvency proceedings against Coffee Day Enterprises

NCLT asks BCCI to seek creditors’ nod for ₹158 crore Byju’s settlement

Byju’s insolvency: Suspended directors challenge NCLT ruling reinstating lenders, cite prejudice

NCLT rejects Akshay Kumar’s insolvency plea against edtech Cue Learn

NCLAT dismisses appeal to stay insolvency proceedings against Indrajit Power

Annual Digest Of IBC Cases: 2024

2024 year-end review: How legal precedents and IBC reforms reshaped India's financial system

Establishing “Pre-Existence Disputes” Under The IBC Regime

Byju’s insolvency: Riju Raveendran approaches NCLT to seek inclusion in case

SpiceJet insolvency claims: Are creditors leveraging IBC forum for settlements?

BCCI seeks withdrawal of insolvency proceedings against Byju’s

NCLAT grants two weeks time for Supertech township's settlement proposal

SC reserves verdict on plea against NCLAT order stopping insolvency proceedings against Byju's

NBCC moves SC to complete stalled projects of realty major Supertech Ltd

Byju's insolvency proceedings case: Supreme Court to hear plea on September 17

SC agrees to list plea related to insolvency proceedings against ed-tech firm Byju's