INSOLVENCY & BANKRUPTCY BOARD OF INDIA
NCLT extends Videocon's insolvency resolution process
"This is for the extension of the CIRP process as it ends on 4th of February. Public notices are being given for the submission of bids on 31st of Jan and we see a lot of it coming in, so we request the CIRP process be extended further," said the counsel representing Videocon Industries. Videocon Group had sought EoIs for its 13 group companies.
Bankruptcy board set to tackle group insolvency
Bringing entities on the basis of inter-connectedness or common assets into the group resolut...
Insolvency against Raheja Developers halted, Board to manage
The developer had moved the appellate tribunal after the National Company Law Tr...
NCLAT sets aside insolvency proceedings against Raheja Developers
Earlier, on August 20 last year, the Delhi-based principal bench of the National Company Law Tribunal (NCLT) had directed to initiate insolvency proceedings against the company over the plea filed by one of its flat buyers citing delay in the project and appointed an interim resolution professional.
NCLAT halts insolvency proceedings against Raheja
Raheja was admitted for insolvency proceedings in August 2019 by the National Company Law Tribunal (NCLT) which held the company in default of its obligations to two home buyers who at the time had approached the tribunal claiming delay in delivery of flats. The case involved the Raheja group’s Sampada project in Gurgaon.
Thapar Group’s BILT in bankruptcy court
IDBI Bank has the largest exposure to the company with Rs 400 crore of loans outstanding.
IBBI amends voluntary liquidation process regulations
With the amendments, a liquidator has to deposit unclaimed dividends and undistributed proceeds in a liquidation process along with any income earned thereon into the Corporate Voluntary Liquidation Account before submission of an application for dissolution of the corporate person, a release said on Thursday.
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Home buyers file plea in SC challenging Insolvency & Bankruptcy Code amendment
"The writ petition has been filed by 11 petitioners of 11 projects being constructed by Pioneer Urban Land & Infrastructure, Emaar MGF Land, BPTP, Supertech, Ansals, among others," said advocate Aditya Parolia of PSP Legal, representing the buyers.
Global investors ready with $3 billion kitty to enter India’s credit market
Many global investors are looking for the first time to deploy $3 billion into India’s credit market, especially the structured credit segment.
SC approves nominations of 7 directors to Unitech board
Unitech promoters Sanjay Chandra and his brother Ajay Chandra are currently lodged in Tihar jail for allegedly siphoning off homebuyers' money.
Synergy, Delhi-based firm show interest in Jet Airways
Synergy owns majority shares in airlines including Colombian carrier Avianca Holdings. The conglomerate had last time submitted an expression of interest in August after the August 10 deadline set by the resolution professional running the bid process.
Inter-creditor agreement can be signed right at the time of lending for quick resolution, says Bankruptcy Board member
ICA mechanism was established to arrive at a resolution plan within a specific period (30+180 days) for any account where the borrower misses payments and is believed to be in incipient stress without formally initiating the bankruptcy process.
Terms set for DHFL liquidation after big loss
India’s bankruptcy courts attempt to resolve its first shadow bank insolvency.
Liquidation process: Secured creditor cannot sell assets to entities ineligible for insolvency plan
The Insolvency and Bankruptcy Code (IBC) provides for time-bound and market-linked resolution process for stressed corporates.In case the resolution process does not materialise, then the entity goes for liquidation. An official release on Tuesday said the IBBI has notified changes to liquidation process regulations.
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