The proposed amendment to the Insolvency and Bankruptcy Code aims to reduce timelines and provide for a mechanism that involves minimal interaction with the court. It fails on both counts.
Dissolution amounts to overreach, allows sister firm to escape liability. Experts disagree, say keeping firm alive just to face liability unreasonable, as promoters face action anyway.
NCLAT says club’s affairs were formerly being conducted in manner prejudicial to public interest, but adds govt-appointed committee can't supersede the club management indefinitely.
NCLT dissolved Delhi Gymkhana Club’s general committee last year on various allegations made by govt. NCLAT has upheld that verdict, and govt has appointed an administrator.
Govt has filed a petition with National Company Law Tribunal, and Delhi Gymkhana management committee says it needs a few days after lockdown to respond.
Court says aggrieved home buyers can now approach the National Company Law Tribunal, Real Estate Development Authority as well as the consumer forums against defaulting companies.
IL&FS failed to service principal and interest on loans from banks, inter-corporate deposit and commercial papers totalling 33.9 crore rupees due for the period from Sept 30 to Oct 4
Racism is a problem for privileged mainlanders only when it's meted out to them abroad. In their own backyard, it's normalised as 'I was just kidding. Chill yaar'.
Biotechnology has emerged as the fastest-growing segment, valued at $11.46 billion, led by fermentation-based industries, biofuels, enzymes and sustainable materials.
The 7 February incident involving Tejas aircraft caused severe damage to its frame. IAF and HAL are working together as part of the Board of Inquiry (BoI) to probe the incident.
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