Axis Bank has opposed a public interest litigation (PIL) filed by BJP leader Subramanian Swamy seeking a probe into an alleged fraud involving the bank s sale and purchase of shares in Max Life Insurance. The PIL alleges that Axis Bank made undue profits totaling INR 4,000 crore ($527 million) in a non-transparent manner and in violation of applicable regulations.
Missed timelines, manpower crunch pose challenges for insolvency resolution proceedings devdiscourse.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from devdiscourse.com Daily Mail and Mail on Sunday newspapers.
Stressed asset resolutions under the Insolvency and Bankruptcy Code faced delays due to staff shortages at the National Company Law Tribunal (NCLT) and appellate tribunal. Aviation players, including Go First, sought insolvency protection with limited success. By September, creditors had realized Rs 3.16 lakh crore through IBC resolutions since 2016.