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Company law tribunals must therefore remain mindful that inordinate delays cause commercial uncertainty, degradation in the value of the corporate debtor and makes the insolvency process inefficient and expensive. By Utkarsh Anand, Hindustan Times, New Delhi UPDATED ON SEP 14, 2021 04:27 AM IST The Supreme Court on Monday said judicial delay was the main…
Algerina Perna | Baltimore Sun | MCT | Getty Images It appears Americans are definitely ready to bet on football. Heading into the National Football League’s 102nd season which kicked off last week about 45.2 million Americans said they plan to wager on games, up about 36% from a year ago, according to research from…
The Supreme Court on Monday held that the National Company Law Tribunal (NCLT) cannot permit withdrawals or modifications of a successful resolution plan, once it has been submitted to it after due compliance with the procedural requirements and timelines, solely at the behest of the resolution applicant. This would only create another tier of negotiations…
NEW DELHI : The Supreme Court on Monday said judicial delay” was the main reason for the failure of the insolvency regime in India prior to the 2016 Insolvency and Bankruptcy Code (IBC), as it urged company law tribunals to strictly adhere” to the timelines under the new law and clear pending resolution plans. A…
An inquiry into Australia’s proposed ban on credit card betting heard widespread support for the move, but also warnings that further action would need to be taken to ensure it is effective. The bill, titled the Interactive Gambling Amendment (Prohibition on Credit Card Use) Bill 2020, was filed in April 2021. The Environment and Communications…
Jet Airways will reportedly recommence operations in the first quarter of 2022 under new owners the Jalan-Kalrock consortium more than two years after it shuttered amid financial woes. Indian news reports, citing consortium lead member and businessman Murari Lal Jalan, say the carrier will resume domestic operations first, before expanding to short-haul destinations in the…
Raising concern over delays in corporate insolvency resolution processes (CIRP), the #SupremeCourt on Monday asked the National Company Law Tribunal and the National Company Law Appellate Tribunal to strictly adhere to the mandated 330-day timeline. pic.twitter.com/yMMSonvO4G IANS Tweets (@ians_india) September 13, 2021 (SocialLY brings you all the latest breaking news, viral trends and information from…
Sep 13 2021, 7:18 PMSep 13 2021, 7:59 PMSeptember 13 2021, 7:18 PMSeptember 13 2021, 7:59 PM The Mumbai bench of National Company Law Tribunal has admitted a personal insolvency petition against Venugopal Dhoot, erstwhile promoter and personal guarantor of Videocon Industries Ltd., filed by its financial creditor State Bank of India.While the oral order…
Nok Air has outlined plans for a capital and debt restructuring alongside its ongoing business rehabilitation process to improve its financial health and avoid being delisted from the Stock Exchange of Thailand (SET). On 9 September, the SET warned Nok that it was subject to possible delisting and has given the airline one month until…