The National Company Law Tribunal approves JSW Steel’s bid for Bhushan Power and Steel Limited
September 18, 2019 INSOL INDIA EDITORIAL BOARD
The Principal Bench of the National Company Law Tribunal (“NCLT”), vide its order dated September 05, 2019, approved the resolution plan submitted by JSW Steel Limited (“JSW”) in relation to the corporate insolvency resolution process of Bhushan Power and Steel..
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The National Company Law Tribunal gives final approval to Patanjali’s bid for Ruchi Soya Industries Limited
September 18, 2019 INSOL INDIA EDITORIAL BOARD
The Mumbai Bench of the National Company Law Tribunal (“NCLT”), vide its order dated September 04, 2019, approved the resolution plan submitted by Patanjali Ayurved Limited (“Patanjali”) in relation to the corporate insolvency resolution process of Ruchi Soya Industries Limited. The..
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The National Company Law Appellate Tribunal permits promoters of Sterling Biotech (undergoing its liquidation) to take back control
September 18, 2019 INSOL INDIA EDITORIAL BOARD
Vide its order dated August 28, 2019, the National Company Law Appellate Tribunal (“NCLAT”) passed a conditional order permitting the promoters of Sterling Biotech Limited (“SBL”), to regain control of the corporate debtor. SBL was ordered to be liquidated by..
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Supreme Court of India upholds the constitutional validity of the amendment to the IBC which deems allottees as financial creditors
September 18, 2019 INSOL India Editorial Board
The Supreme Court of India (“SC”) in the case of Pioneer Urban Land and Infrastructure Limited and Anr. vs. Union of India and Ors upheld the constitutional validity of the Insolvency and Bankruptcy (Second Amendment) Act, 2018 (“Amendment Act”) and..
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The Insolvency and Bankruptcy Board of India (“IBBI”) introduces amendments to the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 (“Liquidation Regulations”)
September 18, 2019 INSOL India Editorial Board
The IBBI has introduced certain amendments to the Liquidation Regulations vide the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2019 which came into force on July 25, 2019 (“Liquidation Amendment Regulations”). Some of the..
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The Insolvency and Bankruptcy Board of India (“IBBI”) introduces amendments to the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (“CIRP Regulations”)
September 18, 2019 INSOL India Editorial Board
The IBBI has introduced certain amendments to the CIRP Regulations vide the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2019 which came into force on July 25, 2019 (“CIRP Amendment Regulations”). Some of..