New Delhi, The federal government has appointed Anju Rathi Rana, the regulation secretary, as an ex-officio member of the Insolvency and Chapter Board of India (IBBI), in response to an official notification. The appointment has been made below part 189 of the Insolvency and Chapter Code (IBC), 2016, which permits the central authorities to appoint…
Sanjay Singal, the erstwhile promoter of Bhushan Energy and Metal (BPSL), has filed an software earlier than the Nationwide Firm Regulation Tribunal (NCLT) Delhi, in search of instructions to implement the Supreme Court docket’s latest verdict that quashed the JSW Metal decision plan for BPSL and directed initiation of liquidation proceedings. The applying comes after…
BENGALURU: The Nationwide Firm Legislation Appellate Tribunaldismissed makes an attempt by Byju’s founder Byju Reveendran’s brother Riju Ravindran and cricket physique BCCI to withdraw insolvency proceedings towards the edtech agency with out creditor approval.This choice reinforces the authority of the committee of collectors (CoC) in thecorporate insolvency case.NCLAT upheld an earlier choice by the Bengaluru…
Days after the regulatory motion on the Aviom India Housing Finance Personal Restricted, superseding the board of administrators, the Reserve Financial institution of India (RBI) on Thursday initiated the insolvency proceedings in opposition to the corporate. The central financial institution has constituted a three-member Advisory Committee to help the Administrator in discharge of his duties….
&w=600&resize=600,400&ssl=1 "How authorized precedents and IBC reforms reshaped India’s monetary system – Firstpost")
The Indian banking system has undergone vital modifications in recent times, largely as a result of rising financial system and elevated client spending. Consequently, there was an increase in mortgage defaults and insolvencies. To deal with this, the federal government has launched the Insolvency and Chapter Code (IBC), which has been instrumental in serving to…
NEW DELHI: In one other important motion, Enforcement Directorate (ED) on Saturday mentioned it restituted properties price Rs 4,025 crore to JSW, a profitable decision applicant of the erstwhile Bhushan Energy and Metal Ltd, below company insolvency decision means of Insolvency and Chapter Code.The belongings had been hooked up by ED in 2019 after a…
