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Abkari Act Abkari Act, 1077; Section 57A- Offence under Section 57A is not limited to the holders of the license under the Act, but refers to anybody who mixes or permits to be mixed any noxious...
The Insolvency and Bankruptcy Code (IBC), introduced in December 2016, provides for a time-bound and market-linked resolution of stressed assets. "The credible threat of the Code, that a CD may change hands, has changed the behaviour of debtors. Thousands of debtors are resolving distress in early stages of distress.
Canara Bank had moved the bankruptcy court against the developer in 2020 following its default on loans worth nearly ₹100 crore including interest thereon. The account was declared a non-performing (NPA) in December 2016. The tribunal has appointed Srigini Rajat Naidu as the resolution professional to undertake insolvency proceedings against the developer.
Veteran lawyer Shardul Shroff has approached the Supreme Court on behalf of Torrent Investments in order to expedite the hearing on the company's application to stay the second challenge mechanism in the corporate insolvency resolution process for Reliance Capital.
The Indian government is considering changes to the Insolvency and Bankruptcy Code (IBC) to give insurers the same status as banks in cases of default in infrastructure projects. Currently, surety bonds issued by general insurance companies do not provide the same recourse for recovery as bank guarantees.