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Insolvency News

11 May 2023

SpiceJet Denies Insolvency Rumours Despite Receiving Notice From NCLT

SpiceJet has received notice from National Company Law Tribunal, however, the airline is claiming that rumours of insolvency are false, and it is focussing on recovery of its fleet.

10 May 2023

Go First Crisis: NCLT Admits Airline's Plea For Insolvency Resolution Process

Go First Insolvency: According to the order by NCLT, IRP has been asked to take necessary steps including execution of the arbitral awards, keep it as a going concern and run its services smoothly.

02 May 2023

Go First Cancels All Flights From May 3-5 Amid Cash Crunch; Files Bankruptcy

Amid cash crunch, Go First, a Wadia-group owned airline has submitted a detailed report to aviation regulator Directorate General of Civil Aviation (DGCA).

27 Nov 2022

Cumulative recovery rate under insolvency resolution falls to 30.18 pc in Sept

The overall recovery rate implies a haircut of around 70 per cent for the lenders. The Insolvency and Bankruptcy Board of India (IBBI) is a key institution in implementing the Insolvency and Bankruptcy Code (IBC). The cumulative recovery rate has been on a downtrend.

13 May 2020

Jet Airways insolvency resolution professional seeks fresh EoI

This is the fourth time that EoI has been invited for Jet Airways, which was shuttered last year.

04 Sep 2019

NCLAT allows promoters to regain control of firms at liquidation stage

In the liquidation case pertaining to Sterling Biotech, the NCLAT has set aside a bankruptcy court order to liquidate a debt-ridden company while allowing its promoters to take back control of the firm after making full payment to the lenders.

Jaypee Infratech

21 Jun 2019

Jaypee Infratech creditors meet to take stock of insolvency process

In the voting process that concluded on June 10, majority of banks voted against NBCC's bid to acquire the debt-laden firm. Most homebuyers voted in favour of the NBCC bid.

25 Mar 2019

`Good outcome from creditors-company negotiations better than insolvency`

He was responding to a query on whether Jet Airways is a fit case to be referred under the Insolvency and Bankruptcy Code (IBC).

21 Jun 2018

Centre studying other countries' systems for new insolvency framework

The Centre is inclined towards the UK system with some modifications, sources have said.

Reliance Communications

28 May 2018

RCom plea against insolvency to be heard by NCLAT on Tuesday

The plea of Anil Ambani-run RCom was mentioned today before the bench of the National Company Law Appellate Tribunal (NCLAT), seeking an urgent hearing on the issue.

Reliance Communications

22 May 2018

RCom moves NCLAT challenging order allowing plea for its insolvency

Anil Ambani-run RCom's plea is expected to be heard by the appellate tribunal in the coming week.

01 May 2018

IBBI invites comments on regulations under Insolvency & Bankruptcy Code

The IBBI has evolved a transparent and consultative process to make regulations.

11 Aug 2017

NCLT orders commencement of insolvency proceedings against Jaypee Infratech

08 May 2016

Bankruptcy Code positive financial sector reform: Nomura

The insolvency and bankruptcy code is a very positive financial sector reform, especially for the the banking sector, as it will give creditors a legal path for recovering their dues in a time-bound manner, says a Nomura report.

17 Mar 2016

Insolvency Code to make start, exit easy for startups: Nirmala

Insolvency and Bankruptcy Code will make it easy for a budding entrepreneur to start or exit from the startup business, Commerce and Industry Minister Nirmala Sitharaman said on Thursday.

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