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The Supreme Court on Wednesday concluded hearing submissions made for and against the constitutionality of the Insolvency and Bankruptcy Code (IBC).The three-judge bench, headed by CJI D.Y. Chandrachud, will pronounce the complete judgement on ...
Insolvency And Bankruptcy Board Of India: The proposed amendments, for which public comments have been sought till November 28, are expected to provide relief for homebuyers whose investments are stuck in stalled real estate projects.
The development comes within a fortnight of the lenders issuing a legal notice to Iyer for putting on the block inventories of Future Retail without seeking their approval. At a voting held on September 30, majority lenders rejected Space Mantra's '550-crore plan for Kishore Biyani-promoted Future Retail. Despite five weeks having passed, Iyer has not filed an application for liquidation before the National Company Law Tribunal (NCLT).
The NCLT questioned the RP on whether such an order could be passed without giving notice to the operational creditors, and urged him to make them a party in the application. The RP however contended that such an order could be passed without giving notice to the operational creditors.
The Supreme Court today (07.11.2023) commenced its hearings in a batch of petitions challenging the constitutionality of various provisions of the Insolvency and Bankruptcy Code (IBC) relating to...