New Delhi, Jun 5 (PTI) The NCLT on Monday directed the IRP of Go First to file a reply within one week over the petitions filed by three lessors seeking possession of their aircraft and engines from the Wadia group firm, which is currently going through the Corporate Insolvency Resolution Process (CIRP). Advertisment A two-member…
Operational creditor Section 5(20) of the Insolvency and Bankruptcy Code, 2016 (Code for short) defines the expression operational creditor as a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred. Operational debt Section 5(21) of the Code defines the expression operational debt…
NEW DELHI: Insolvency tribunal NCLT approved 180 resolution plans in FY23, the highest-ever number so far, resulting in a total realisation of Rs 51,424 crore from stressed assets. In terms of the realisation for creditors, this is the second highest after FY19, when the total realisation was Rs 1. 11 lakh crore after completing 77…
NEW DELHI: Insolvency tribunal NCLT approved 180 resolution plans in FY23, the highest-ever number so far, resulting in a total realisation of Rs 51,424 crore from stressed assets. While, in terms of realisation of the amount for creditors, this is the second highest after FY19, when the total realisation was Rs 1.11 lakh crore after…
Insolvency tribunal NCLT approved 180 resolution plans in FY23, making it the highest-ever annual number so far.With this, NCLT has clocked in a total realisation of Rs 51,424 crore from stressed assets. While, in terms of realisation of the amount for creditors, this is the second highest after FY19, when the total realisation was Rs…
Insolvency tribunal NCLT approved 180 resolution plans in FY23, making it the highest-ever annual number so far. With this, NCLT has clocked in a total realisation of Rs 51,424 crore from stressed assets. While, in terms of realisation of the amount for creditors, this is the second highest after FY19, when the total realisation was…
Insolvency tribunal NCLT approved 180 resolution plans in FY23, the highest-ever number so far, resulting in a total realisation of Rs 51,424 crore from stressed assets. While, in terms of realisation of the amount for creditors, this is the second highest after FY19, when the total realisation was Rs 1.11 lakh crore after completing 77…
Yet again, the Supreme Court of India has said that if the National Company Law Tribunal (NCLT) is satisfied that a default has occurred, then it has no option but to admit an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. The tribunal has no discretion in such matters, it said…
The Congress on Friday attacked the government over the low debt recovery under the Insolvency and Bankruptcy Code and asked whether it was a mechanism to rescue stressed firms or another tool for organised loot”. The Opposition party also asked whether the Insolvency and Bankruptcy Code (IBC) was aimed at helping cronies for creating monopolies…
India’s largest gas firm GAIL has infused Rs 2,100 crore in insolvent private-sector chemical company JBF Petrochemicals Ltd that it had acquired in bankruptcy proceedings. The firm had in March won bankruptcy court approval for taking over JBF. In a stock exchange filing, GAIL (India) Ltd said it has “infused Rs 2,101 crore (equity –…