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
The US and Israel’s assassinations of Iranian leadership ended up bestowing martyrdom on those killed. Shias saw the deaths as a continuity of martyrdom from the Battle of Karbala.
India’s fast-growing data centre sector may strain state electricity networks; Central Electricity Authority has urged Maharashtra, Andhra Pradesh, Telangana and Tamil Nadu to boost capacity.
Theaterisation, which aims to divide the forces into three theatres with specific areas of responsibility, will become the single most far-reaching reform that the Indian military has witnessed since independence.
China patiently invested capital, skill and technology in coal gasification. Unlike it, we won’t move from words to action. As crude prices decline, we lose interest.
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