Dhananjay Kumar and Hamraj Singh suggest ways to speed up insolvency resolution The Insolvency and Bankruptcy Code, 2016 (IBC) emphasizes the importance of time-bound reorganization and resolution for distressed entities and it is touted as one of its defining features. The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016…
The NCLAT Thursday set aside orders of the NCLT Kolkata-bench, and directed it to hear the insolvency plea against Duncans Industries afresh filed by A J Agrochem, an operational creditor of the tea firm. Allowing the petition of Agrochem, a two-member NCLAT bench headed by Chairman Justice S J Mukhopadhaya has directed the National…
Mumbai: Credit rating agency Icra estimates that haircuts for operational are not materially different than the haircuts taken by the financial creditors for cases under the Insolvency and Bankruptcy Code (IBC). This analysis is based on the data for 92 corporate insolvency resolution plans (CIRPs) that have yielded a resolution plan up to 31 March,…
Furious holidaymakers are calling on regulators to investigate after their Melbourne travel agent shuttered its shop earlier this month and stopped returning phone calls. Bentleigh East based One World Travel suddenly newspapered its windows some weeks ago and posted a notice claiming to have appointed administrators. Its website was taken down, listed contact numbers disconnected…
Subject:Intimation of the Fourth Meeting of Committee of Creditors(COC) of Punj Lloyd Limited under Regulation 30(2) read with Clause (g) of Para A of Part A of Schedule III of Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015 Dear Sir/Madam, Pursuant to Regulation 30 (2) of Securities and Exchange Board…
With the transformation and upgrading of industry in China, and progress in supply-side reforms, Chinese legislation concerning the scope of entities with liquidation obligations, and the liability bearable by parties with liquidation obligations, is showing a gradual trend towards broadening and severity, the hope being that this will drive the large number of zombie companies…
To,The General Manager,Department of Corporate Services,BSE Limited,P.J. Towers, Dalal Street,Mumbai-400 001.Dear Sir,Sub: Outcome of 13th CoC Meeting of M/s Southern Online Bio Technologies Limited scheduled on 17th June,, 2019. With reference to the subject cited above, I would like to inform you that the following items were discussed in the 13th CoC meeting of Southern…
By Shekhar Aiyar, John Bluedorn, and Romain Duval Growth in the euro area rebounded earlier this year, but it remains fragile, while risks have increased. Now is a good time for euro area economies to strengthen their ability to weather any future economic difficulties. A new IMF staff paper looks at the resilience of euro…
The Dalgaranga operation. Image: Gascoyne Resources. Latest News Gascoyne Resources administrators have decided to continue operating the Dalgaranga gold mine in Western Australia during its administration process. The administrators aim to maximise the chances of Gascoyne continuing its existence, which is considered a better outcome than immediate liquidation for creditors. Gascoyne administrators, who are senior…
As many as 17 developers have been brought under the corporate insolvency resolution process before the National Company Law Tribunal (NCLT), Chennai. Liquidation orders have been passed against three builders, Antony Projects P. Ltd, LCS City Makers P. Ltd and RRP Housing P. Ltd, said NCLT Chennai in response to an RTI query. The responses…