Allahabad High Court allows UP Electricity Department to recover ₹ 9 crore electricity dues from directors of insolvent defaulter company – Bar & Bench – Indian Legal News

Bankruptcy

The Allahabad High Court recently upheld a demand notice issued by Uttar Pradesh Electricity Department to recover 9 crore electricity dues from defaulter company which was declared insolvent under the provisions of the Insolvency and Bankruptcy Code, 2016, and the resolution plan approved by the National Company Law Tribunal (NCLT) [Narendra Singh Panwar v Pashchimanchal…

How not to deal with a debt crisis – Social Europe

Debt Help

Jayati Ghosh warns against historically disastrous approaches to the sovereign-debt crisis hitting low- and middle-income countries. Sri Lanka faces crippling debt repayments of more than $31 billion in this decade, unless these are reduced by write-offs or restructuring (GoodIdeas/shutterstock.com) In the 1920s and early 30s, John Maynard Keynes was embroiled in a controversy with the…