New Delhi: Can a cooperative society buy or invest in a company during insolvency proceedings under the Insolvency and Bankruptcy Code (IBC)?
Yes, said the...
New bill aims to fix key issues with IBC 2016, including delays & patchy implementation, and protect creditors, with window for genuine promoters to retain control of their companies.
The resignation comes after the startup failed to provide requested documents due to a suspended board amid insolvency proceedings and an asset freeze.
The Supreme Court on Wednesday revived insolvency proceedings following a lawsuit by a trust representing U.S. lenders who say they are owed $1 billion by the company.
It was NDA that introduced Insolvency and Bankruptcy Code in 2016. IBC replaced earlier framework which was governed by various laws that made the process cumbersome.
NCLT said 'it cannot be disputed' that the parent of Byju's, Think & Learn Private Limited, had availed itself of the services of BCCI and had defaulted on roughly Rs 1.59 billion.
Data from Insolvency & Bankruptcy Board of India shows time taken to come up with a resolution plan is 2.5 times what it was 4 yrs ago. Recoveries are only about 1/3 of claim amounts.
The ability to bridge this gap will be crucial in determining whether India’s coastline serves as a mere boundary or acts as a catalyst of economic growth.
Post-2022 as AI has spread in developed economies, it is leading to another round of polarisation—the middle class jobs are being lost in offices rather than in factories.
American objectives are unmet. They neither have muscle nor motivation to resume the war. As for Iran, the regime didn’t just survive, it’s now led by more radical individuals.
COMMENTS