New Delhi, March 10 – The Union Cabinet has given its approval for amendments to the Insolvency and Bankruptcy Code, potentially paving the way for the introduction of the IBC Amendment Bill in the ongoing parliamentary session, according to sources.The proposed legislative updates are based...
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New Delhi, March 10 The Union Cabinet approved amendments to the insolvency law and the Companies Act on Tuesday, according to sources.Specific details could not be immediately ascertained.The sources said that the Cabinet has approved various amendments to the Insolvency and Bankruptcy Code...
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New Delhi, March 1 The appellate tribunal, NCLAT, has dismissed petitions filed by two Dhoot brothers – Rajkumar Nandlal Dhoot and Pradeep Nandlal Dhoot – challenging the initiation of personal insolvency against them over a default committed by debt-ridden Videocon Industries.Personal...
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New Delhi, February 26 The Supreme Court said on Thursday that simultaneous Corporate Insolvency Resolution Process (CIRP) proceedings can be initiated against both a principal debtor and its corporate guarantor for the same debt.A bench comprising justices Dipankar Datta and Augustine George...
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Kolkata, February 25 Sanjeev Sanyal, a member of the Prime Minister's Economic Advisory Council, said on Wednesday that India has managed to sustain growth of 7-7.5 per cent while maintaining macroeconomic stability despite global uncertainties, while asserting that sequential growth with...
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New Delhi, February 24 The Supreme Court on Tuesday upheld a decision by the NCLAT that said that attachment under the Prohibition of Benami Property Transactions Act, 1988 (Benami Act) can only be challenged before the authorities specified in that act.A bench of justices PS Narasimha and...
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New Delhi, February 13 Highlighting the benefits of the insolvency law and the tribunal's performance, NCLT President Chief Justice (Retd) Ramalingam Sudhakar said on Friday that people should stop making unwanted comments about them.The National Company Law Tribunal (NCLT) is a key...
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New Delhi, February 11 Grounded Jet Airways has finalized an agreement to sell three aircraft frames and six engines to a Malta-based entity for USD 46 million.Jet Airways operated for 25 years before ceasing operations in April 2019 due to financial difficulties and is currently undergoing a...