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India News: The Supreme Court has ruled that mobile service providers in India can allocate deactivated numbers to new subscribers after a 90-day period. The cour ....
India s top court has rejected pleas which sought a review of its earlier judgment in which it said that statutory creditors like tax authorities would be considered secured creditors. This is a set back to lenders like State Bank of India and Indian Overseas Bank. The judgment ranks crown debts at par with workmen dues. ....
In a setback for creditors, including State Bank of India and Indian Overseas Bank, the Supreme Court dismissed their petitions seeking a review of its prior ruling. The ruling stated that statutory creditors, such as tax authorities and government agencies, would be considered secured creditors under the Insolvency and Bankruptcy Code (IBC). ....
The lenders, led by SBI, for Regen Powertech Pvt Ltd (RPPL), have asked for the Supreme Court s guidance regarding the possibility of merging insolvency proceedings for RPPL and its subsidiary, Regen Infrastructure and Services Pvt Ltd (RISPL), in order to expedite debt recovery. The Committee of Creditors (CoC) is challenging the NCLAT s decision to combine the proceedings and invalidate RPPL s approved resolution plan ....