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NCLT admits Piramal Capital's insolvency plea in Rs 1,065-crore default by developer, ET RealEstate

The Mumbai bench of the National Company Law Tribunal has also appointed Jayesh Natvarlal Sanghrajka as the resolution professional for the company. ....

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Promoters clear dues to avoid insolvency

India Business News: Just the fear of losing control over one's company due to the Insolvency & Bankruptcy Code (IBC) has helped creditors, banks and others such as suppli ....

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promoters: Promoters are clearing their dues faster under the threat of insolvency

According to government data, the threat of legal action has led many promoters to pay their dues, even before cases are admitted to the National Company Law Tribunal (NCLT). Creditors and suppliers have recovered their dues immediately after filing under the Insolvency & Bankruptcy Code (IBC). Since 2016, settlements totaling over Rs 8.2 lakh crore have been paid out, with Rs 2.9 lakh crore recovered from 720 cases. ....

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Insolvency & Bankruptcy Board of India | Insolvency & Bankruptcy Board of India data reveals 41 per cent rise in number of cases admitted for corporate insolvency resolution process in 2022-23

Lawyers, resolution professionals and bankers attribute spike to clearance of a backlog ....

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IBC seminal reform; instrumental in changing feudal mindset of promoters: CEA

There is absolutely no space for feudalism in an economic society which is actually based on freedom, he said at the 5th annual day of the Insolvency Bankruptcy Board of India IBBI.In a democracy or a free society, he said, there is no space for feudalism.Talking about resistance to reforms in a democracy, he said it comes from a vocal minority who have access to corridors of power.In any democracy, when you think about reform, there is always this tussle between two sets of stakeholders, one that is a vocal minority versus a silent majority, he said. ....

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