Page 40 - Bankruptcy Code News Today

Indiabulls Housing Finance: A two-member Delhi bench of the NCLT directed initiation of personal insolvency proceedings against Zee Entertainment Enterprises Ltd (ZEEL) Chairman Emeritus Chandra, who was a guarantor for a loan given to Essel group firm Vivek Infracon Ltd.

While India's recent growth performance has surprised many, triggering a flurry of upgrades from financial institutions such as the IMF, the RBI bulletin released on Tuesday cites six factors that will propel the country to become the world's ...

MUMBAI — While India’s recent growth performance has surprised many, triggering a flurry of upgrades from financial institutions such as the IMF, the RBI

NEW DELHI: The National Company Law Tribunal (NCLT) on Monday admitted a petition filed by Indiabulls Housing Finance and directed initiation of perso.

LOS ANGELES--(BUSINESS WIRE)--Apr 23, 2024--

A bankruptcy discharge relieves a debtor of their legal obligation to repay most debts. The Bankruptcy Code begins with a presumption of dischargeability for the honest but unfortunate debtor...

(This story has not been edited by THE WEEK and is auto-generated from a PTI

The government-promoted National Asset Reconstruction Company (NARCL) has raised ₹670 crore equity from existing shareholders and is in the process of raising ₹3,200 crore debt to support its plan to acquire ₹1 lakh crore of stressed assets. However, the bond issuance has faced challenges due to pricing differences between existing shareholders and the NARCL board. The ARC aims to raise funds through a five-year bond and fund-based limits but is negotiating the coupon rate with shareholder...

Cross-border insolvency can be construed as those insolvency matters where a debtor who has declared himself to be as insolvent has assets in more than one jurisdiction or country, and its creditors, too, reside overseas. And, therefore, it could also be termed as an international insolvency.

As a result of Chandra being admitted to moratorium, no litigation can be initiated against him. Chandra also cannot alienate or sell any of his assets and the Resolution Professional will now process the claims of those who intend to recover money from him.