NCLT Kolkata: Resolution Professional Deserves Remuneration For Labor And Services As Approved By CoC – Live Law – Indian Legal News

Liquidation

The National Company Law Tribunal (NCLT), Kolkata comprising of Smt. Bidisha Banerjee (Judicial Member) and Shri Balraj Joshi (Technical Member) allowed an application filed in Mr. Sanjeev Jhunjhunwala vs. Mr. Bimal Kanti Choudhury against PM Cold Storage Private Limited (Respondent) for the payment of Corporate Insolvency Resolution Process (CIRP) costs and pass an Order appointing…

NCLT Hyderabad Rejects Section 9 Petition For Incompliance Of … – Live Law – Indian Legal News

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The National Company Law Tribunal (NCLT), Hyderabad Bench, comprising of Dr. Venkata Ramakrishna Badarinath Nandula (Judicial Member) and Shri Charan Singh (Technical Member), while adjudicating a petition filed in M/s Tata International Limited v M/s Trident Sugars Ltd., has rejected a petition under Section 9 of IBC since the creditor failed to serve the Demand…

Bankruptcy court admits insolvency resolution plea against Goli … – ETRetail

Liquidation

A bankruptcy court has admitted Mumbai-based quick service restaurant (QSR) chain Goli Vada Pav Pvt. Ltd. under the corporate insolvency resolution process (CIRP) and has appointed Vinod Radhakrishnan Nair as the resolution professional of the company. Goli Vada Pav was taken to the Mumbai bench of the National Company Law Tribunal (NCLT) by Vista Processed…

Coffee Day bankruptcy process: Application filed under IBC Section 7, hearing likely this month | Mint – Mint

Liquidation

As part of the ongoing bankruptcy process of coffee chain firm Cafe Coffee Day (CCD), an application has been filed against the company under Section 7 of the Insolvency and Bankruptcy Code (IBC). According to a regulatory filing by Coffee Day Enterprises to the stock exchanges September 8, the application is filed by IDBI Trusteeship…

Hope for financially stressed subsidiaries of overseas companies – Law.asia

Liquidation

Overseas companies entering the Indian market through the wholly owned subsidiary route do so with hope and expectation. While the majority of ventures have worked out well, there have been instances where the subsidiary failed to take off or encountered operational issues requiring hard decisions on its operations in India. When faced with such challenges,…

Transactions defrauding creditors: the use of corporate structures to … – Mayer Brown

Liquidation

Judgment creditors should be aware that the English Court of Appeal has given guidance on the proper construction of s423 Insolvency Act 1986 (transactions defrauding creditors)1. This guidance will be relevant where it is alleged that a debtor has transferred assets through corporate structures in order to defeat the claims of creditors, including judgment creditors.…