Bankruptcy Proceedings

Byju's founder told ally to flee US to avoid testifying against him

William R Hailer said Raveendran sent him a plane ticket to Dubai just two days before Hailer was set to testify about Raveedran's efforts to regain control of parts of the Byju's education empire

Go First gets 2 financial bids as part of its bankruptcy process: Bankers

The airline has also received a financial bid from Sharjah-based Sky One Airways which is lower than the competing bid, one of the bankers said, without disclosing the amount

Manufacturing tops insolvency cases, real estate a close second

The recovery rate from personal guarantors currently stands at 5.22%. This rate is anticipated to rise following the Supreme Court's recent ruling affirming the constitutionality of the IBC provisions

Hinduja lone bidder for RCap in second auction, offers Rs 9,650 cr

Upfront payment proposed; Torrent, Oaktree skip

JC Flowers, Reliance Retail Ventures among 48 bidders for Future Retail

This month, the National Company Law Tribunal (NCLT) had granted an extension of 90 days for conducting the corporate insolvency resolution process (CIRP) of FRL and extended it to June 15, 2023

NARCL to buy loans of five distressed companies, lenders agreement awaited

In July, NARCL had proposed to take distressed assets of 17 firms worth Rs 93,249 crore including included five firms of the Future Group

NCLT allows RBI's plea for bankruptcy proceedings against Reliance Capital

The bankruptcy tribunal has also confirmed the appointment of Y Nageswar Rao as the administrator of the company

Personal guarantors may be part of cross-border insolvency framework

The cross-border insolvency framework is yet to be notified under the Insolvency and Bankruptcy Code

'IBC is a road under construction,' says IBBI chairperson M S Sahoo

Referring to the pre-pack scheme of insolvency resolution for micro, small and medium enterprises (MSMEs), he says it takes three-six months for the market to understand a new framework

Bankruptcy process needs a re-look

A mechanism is needed to ensure bank-led resolution- not the NCLT- is the first resort for lenders

Haircuts and settlements

Gaming the system leads to losses to lenders

Headless NCLT awaits reforms to speed up resolution of pending cases

Over 20K cases pending and more than half linked to insolvency, bankruptcy

Lenders terminate bankruptcy proceedings against Lavasa Corporation

Lenders who have run up Rs 7,700 cr bad loans will call for fresh bids

Pre-packaged insolvency for small & medium firms

A notable feature of the ordinance is the pre-packaged process' two-step voting structure

On the verge of bankruptcy: How Cafe Coffee Day ground to a halt

After group company Sical Logistics was sent to NCLT, the listed company is next in queue

Coffee Day stares at bankruptcy as asset sale fails to make headway

According to an exchange filing, for the March quarter, CDEL's outstanding debt was Rs 280 crore

Statsguru: IBC mechanism ready to take up cases after a year-long hiatus

As many as 1,942 cases are currently going on under the Code (as of Septem­ber 2020)

Special insolvency relief framework for Covid-hit MSMEs in the works

Such firms may be allowed to opt for pre-packaged deal

NCLT begins insolvency proceedings against The Pioneer group firm

Interim resolution professional appointed; public notice issued

Mallya receives fresh blow as plea to halt bankruptcy proceedings rejected

Mallya's lawful group has said that the banks are "made sure about loan bosses" and subsequently ought not bring liquidation procedures