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After more than 25 years of operations, full-service airline Jet Airways was grounded on April 17, 2019, amid a severe cash crunch. The insolvency process began in June 2019 and the NCLT approved a resolution plan submitted by the Jalan-Kalrock Consortium on June 22, 2021.
Supertech had conveyed to both NCLAT and the Supreme Court that it had arranged priority funding of up to Rs 1,600 crore from investment fund Oaktree Financial for construction and completion of the projects.
The National Company Law Appellate Tribunal (“NCLAT”), Principal Bench, comprising of Justice Ashok Bhushan (Chairperson) and Shri Barun Mitra (Technical Member), while adjudicating an appeal filed...
Supreme Court IBC| Principle Of Commercial Wisdom Not Validate A Decision Taken By CoC In Contravention Of Law: Supreme Court Case Title: M.K. Rajagopalan v Dr. Periasamy Palani Gounder ...
The Supreme Court has held that the principle of ‘Commercial Wisdom’ of the Committee of Creditors (“CoC”) cannot brush aside the shortcomings of the CoC in cases where decision making was done in...