In absolute terms, the default amount involved in the withdrawn cases was almost three times the Rs 3.16 lakh crore realised through the resolution of a total of 808 insolvent firms under the IBC until September 2023. The recovery from these 808 rescued firms constituted 31.85% of the creditors claims that were endorsed by the NCLT.
India Business News: The Supreme Court of India has upheld the validity of provisions in the Insolvency & Bankruptcy Code that allow action to be taken against personal gu
The revenue department had raised a tax demand of Rs 257.8 crore from Tata Steel for four assessment years prior to the acquisition of Bhushan Steel under Insolvency and Bankruptcy Code, 2016
Birla Tyres, which was once part of the famed BK Birla empire before slipping into insolvency, will be a subsidiary of Calcutta-based Himadri, which claims to be the third largest producer of carbon black, a key ingredient in tyre making