The Supreme Court stayed on Monday the insolvency proceedings against real estate firm Jaypee Infratech at National Company Law Tribunal (NCLT), Allahabad at the instance of its financier IDBI. It also issued notice to embattled firm and others on a plea filed by homebuyers who have not yet received possession of their dream flats booked…
Murdoch-controlled 21st Century Fox faces getting close to nothing in the payout of Network Ten creditors if it does not come to a new content supply agreement with the free-to-air broadcaster’s likely new owner CBS. Ten administrators KordaMentha assessed the debt claim for the US studio, of which Lachlan Murdoch is executive chairman, to be…
Homebuyers in Jaypee Infratech projects are required to fill up forms to register their claims for the corporate insolvency resolution process against the company by 31 August. Photo: Ramesh Pathania/Mint New Delhi: The Supreme Court on Monday stayed an August order passed by the Allahabad bench of the National Company Law Tribunal (NCLT), which initiated…
Queensland-based Soma Information Technology, which traded as Soma IT, has entered liquidation owing over $1 million to creditors. The company was registered with the Australian Securities and Investments Commission (ASIC) in May 2014, and offered IT business support. In July, a resolution to wind up the company was passed followed by the appointment of David…
Now we have Theresa Mays vision on how to stamp out irresponsible behaviour in big business and force bosses to think harder about their workers. Last week the government put out its policy paper on promoting the voice of employees in the boardroom and improving the governance of British companies, including private ones. Would-be tycoons…
New Delhi, Aug 31 () The NCLT has so far decided more than 655 cases under the Insolvency and Bankruptcy Code while all efforts are made to stick to the timelines, the tribunal’s President Justice M M Kumar said today. The Code, which provides for a market-determined and time-bound resolution of insolvency proceedings, became operational…
The Supreme Court on Thursday said that the new insolvency law, being a parliamentary law, will prevail over similar state laws during initiation of the corporate insolvency resolution process by lenders to recover debts from corporate entities. (Photo: Reuters) The Supreme Court on Thursday said that the new insolvency law, being a parliamentary law, will…
NEW DELHI: Homebuyers of Jaypee Wish Town are banking on the corporate insolvency resolution process for getting their homes delivered, while keeping the plan to move the Supreme Court on hold. Buyers say lawyers have advised them to wait and watch the situation, before taking any decision. We have decided to wait for the insolvency…
Tangedco owes 720 crore to Hyderabad-based groups companies Chennai, September 1: In a novel approach by a private sector company to collect dues from a public sector utility, the Ind Bharath Group has filed a corporate insolvency petition against the Tamil Nadu Generation and Distribution Corporation (Tangedco) to recover a debt of 720 crore. According…
NEW DELHI: The NCLT has so far decided more than 655 cases under the Insolvency and Bankruptcy Code while all efforts are made to stick to the timelines, the tribunal’s President Justice M M Kumar said today. The Code, which provides for a market-determined and time-bound resolution of insolvency proceedings, became operational in December 2016.…