Page 40 - Resolution Professional News Today

The National Company Law Appellate Tribunal held that the Resolution Professional should inform Financial Creditors existing in the records of Corporate Debtor about initiation of CIRP to avoid delay in filing claims.

CBIC released a notification laying out an SOP to be followed by the National Company Law Tribunal (NCLT) for cases under the Insolvency and Bankruptcy Code, 2016 (the Code).

The airline, currently owned by a consortium led by Dubai-based Murari Lal Jalan, announced that it passed a significant milestone on its path to resuming operations

The country’s aviation regulator, DGCA, has granted the Air Operator Permit (AOP) to Jet Airways, which was grounded over financial woes.

The Karnataka High Court upheld the constitutional validity of Sections 95, 99, and 100 of the Insolvency and Bankruptcy Code, 2016.

While passing an order on May 6, a three-member bench of the NCLAT also said that no monthly fees shall be payable to Mack Star Marketing for use of the premises during the period when the the airline was undergoing Corporate Insolvency Resolution Process (CIRP), , NCLAT, jet airways

Amid the present power crisis owing to coal shortage, the Centre has invoked section 11 of the Electricity Act, 2003 and asked all imported coal-based power units to run at full capacity. Section 11 stipulates that in case of emergency the government may direct producing companies to operate and maintain any station in accordance with its directives.

Union Minister for Coal and Mines, Pralhad Joshi on Friday launched 20 closed and discontinued mines that will help the country to increase its coal supply.

Highlighting that the demand for power has gone up by almost 20 per cent in energy terms, the Ministry of Power on Thursday ordered all imported coal power plan

The Supreme Court held that salary wages of employees during the Corporate Insolvency Resolution Process (CIRP) under the IBC are to be treated as costs for asset distribution purposes under the IBC.