[ad_1] The cumulative recovery rate under the insolvency resolution processes of debt-ridden companies declined to 30.18 per cent at the end of the September quarter, indicating that lenders took more haircut on their exposure, shows a study. The recovery rate has fallen steeply from a peak of 43 per cent...
NCLAT rejects plea against approval of Alpha Corp’s bid for Earth Infrastructure, Legal News, ET LegalWorld – Legal Firms
[ad_1] New Delhi, The National Company Law Appellate Tribunal (NCLAT) has declined the plea of a batch of homebuyers who challenged the NCLT's approval of Alpha Corp Development's bid to acquire debt-ridden realty firm Earth Infrastructure. National Company Law Tribunal (NCLT) had on June 8, 2021, approved the resolution plan...
Supreme Court to decide if PMLA overrides IBC, Legal News, ET LegalWorld – Legal Firms
[ad_1] The Supreme Court is expected to soon decide on whether the Prevention of Money Laundering Act (PMLA) overrides the Insolvency and Bankruptcy Code (IBC). The apex court will also provide its views on whether moratorium also applies to action initiated by the Enforcement Directorate (ED).Taking up an appeal filed...
NCLT orders corporate insolvency resolution in BPTP, Legal News, ET LegalWorld – Legal Firms
[ad_1] New Delhi, The National Company Law Tribunal has ordered the commencement of corporate insolvency resolution process of real estate company, BPTP Ltd on November 14.Rakesh Kumar Gupta has been appointed the IRP and the creditors have been asked to provide claims with proof by November 27.RBCL Projects had filed...
Supreme Court to decide if PMLA overrides IBC, Legal News, ET LegalWorld – Legal Firms
[ad_1] The Supreme Court is expected to soon decide on whether the Prevention of Money Laundering Act (PMLA) overrides the Insolvency and Bankruptcy Code (IBC). The apex court will also provide its views on whether moratorium also applies to action initiated by the Enforcement Directorate (ED).Taking up an appeal filed...
Govt appoints 15 judicial, technical members at NCLT, Legal News, ET LegalWorld – Legal Firms
[ad_1] New Delhi, Nov 8 (PTI) The government has appointed a total of 15 judicial and technical members at the National Company Law Tribunal (NCLT), which is grappling with a shortage of judges. The NCLT adjudicates matters related to the Insolvency and Bankruptcy Code (IBC) and companies law. As many...