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Stressed asset resolutions under the Insolvency and Bankruptcy Code faced delays due to staff shortages at the National Company Law Tribunal (NCLT) and appellate tribunal. Aviation players, including Go First, sought insolvency protection with limited success. By September, creditors had realized Rs 3.16 lakh crore through IBC resolutions since 2016.
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The tribunal said that the demerger information was available in the public domain
The ruling came after the entities challenged an order passed by the Securities and Exchange Board of India (Sebi) in February 2021 that had barred Kishore Biyani and certain other promoters of Future Retail Ltd from the securities market for one year for indulging in insider trading in the shares of the company
The Securities Appellate Tribunal (SAT) on Wednesday quashed regulator Sebi's order banning Future Retail chairperson Kishore Biyani and some other promoters from the securities market for one year in an insider trading case