committee of creditors

The National Company Law Appellate Tribunal (NCLAT) on March 2, 2023 allowed a petition filed by lenders of Reliance Capital, seeking another round of auction for the debt-ridden firm undergoing insolvency proceedings.A two-member Bench…

Torrent Investments had emerged the highest bidder with its offer of ₹8,640 crore December 21, 2022, for debt-ridden Reliance Capital in the auction conducted as part of its resolution process.     | Photo Credit: Special Arrangement The…

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Suitors have raised concerns over the bidding process, including the introduction of 'challenge mechanism', as the resolution process of debt-ridden Reliance Capital Ltd (RCL) enters the final stage. According to sources, the decision of…

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In a temporary relief to erstwhile promoters of the Bombay Rayon Fashion Ltd (BRFL), the National Company Law Appellate Tribunal (NCLAT) has stayed the formation of the Committee of Creditors (CoC) until further order. However, the…

The National Company Law Appellate Tribunal (NCLAT) on Thursday directed the Kalrock-Jalan consortium, the winning bidder for bankrupt Jet Airways, to share portions of the resolution plan pertaining to claims of employees with the…

The Supreme Court has rejected Ebix’s plea to withdraw its Rs. 400 crore offer for Educomp Solutions Limited on Monday as per a court order. In its ruling, the Supreme Court stated it did not find merit in Ebix’s arguments that the…

Major changes in the insolvency process have been introduced by the Insolvency and Bankruptcy Board of India. These changes are being brought about to increase transparency and address issues that have come up recently. The Board (IBBI) is…