Luckyraj Indorkar Its been less than two years that the Insolvency and Bankruptcy Code, 2016 (IBC) came into force. National Company Law Tribunal (NCLT) which acts as adjudicating authority and Insolvency Resolution Professional (IRP) appointed under the code are bound by timelines to dispose of an application for corporate insolvency process. Initially, the parties and…
GUWAHATI: The Opposition Congress in Assam has demanded a CBI probe into the alleged coal syndicate operating in the state, while calling for constitution of an all-party House committee to probe into allegations of syndicates raj in other items. Addressing a press conference here, Leader of Opposition in Assam legislative Assembly Debabrata Saikia said, There…
This Article traces implementation of IBC and progress achieved over the past one year and the challenges faced by each of the of the Pillars during their one year of journey. For the sake of convenience and better understanding, the article is divided into four parts. Part-I Captures Criticality of IBC as a piece of…
Twelve cash-strapped colleges received secret government bailouts totalling more than £11 million in December. It perhaps demonstrates a significant increase in the amount of money being dished out to struggling colleges and has prompted demands for greater transparency. The figures were published by the Department for Education as part of a scheduled release detailing monthly…
Indiabulls Real Estate (IBR) share price is up 8.8% ahead of its board meeting to consider restructuring of its residential and commercial & leasing businesses. The commercial & leasing business has a total 9.1mn sq.ft of leasable area. Out of which 5.2mn sq.ft is completed and 3.9mn sq.ft is under construction & planning/approval phase. The…
The co-founder of luxury bridal house Pallas has bought back the business out of administration, preserving most of its 30 jobs. Pallas creditors on Wednesday approved a deed of company arrangement floated by Joy Morris, the designer behind the business, saying it represented the best option for employees. Under the deal, Ms Morris will pay…
The ASX is reviewing claims made by real estate giant McGrath disputing speculation its Rich Lister founder John McGrath has a $100 million margin-lending facility attached to his shares in the publicly listed company Details of the loan emerged on Friday after the company told the stockmarket on Thursday night that the multimillionaire had never…
SINGAPORE – Noble Group’s major shareholder Goldilocks Investment Company is calling on Noble’s stakeholders to collectively oppose the commodity trader’s approach to its restructuring plans. Goldilocks issued that statement on Friday (Feb 9), following Noble’s Feb 5 rejection of its request to be released from non-disclosure arrangements surrounding discussions on Goldilocks’ demands for two board…
The US State Department has begun reviewing the application of controversial Bulgarian businessman Tsvetan Vassilev to be considered under the Global Magnitsky Human Rights Accountability Act, a law passed by US Congress that allows the government to impose sanctions in retaliation for human rights abuses and corruption, application under the Magnitsky act. Latest info from…
Indiabulls Real Estate share price gained more than 5 percent on Friday ahead of board meeting to consider demerger of residential and commercial businesses. The company on Thursday informed exchanges that a meeting of the board of directors, is scheduled on Wednesday, February 14, 2018, to consider the various options and recommendations of the committee…