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Tweaking IBC for cross-border cases × The Insolvency and Bankruptcy Code 2016 has been beefed up to suit current needs but issues still remain Overhauling the insolvency and bankruptcy regime, India enacted the Insolvency and Bankruptcy Code 2016 in May 2016. The Code emulates UK’s insolvency laws and is customised for India. While it has been trimmed and strengthened since inception to suit the current needs, a few issues still remain to be addressed. One of them is cross-border insolvency and debt resolution. Cross-border insolvency Currently, two provisions of the code (Section 234 and ...

Tata Sons Vs Cyrus Mistry The Supreme Court continued final hearings in the dispute between Tata Sons and Shapoorji Pallonji Group, as the conglomerates have been embroiled in a legal battle since 2016 when Cyrus Mistry, scion of the family that controls the Shapoorji Pallonji (SP) Group, was sacked as chairman of Tata Sons. The SP Group is the largest minority shareholder in Tata Group. Both parties have challenged a December 2019 order of the National Company Law Appellate Tribunal (NCLAT) which had directed the reinstatement of Mr Mistry, who had alleged shareholder oppression and misman...

Chanda Kochhar involved in okaying 46% of loan proposals for Videocon: ED   Thu, Dec 10 2020 07:03:10 PM By Anand Singh Mumbai, Dec 10 (IANS): Chanda Kochhar was part of the committee or present in meetings where 46 per cent proposals of Videocon Group were agreed to, and out of which eight proposals amounting to Rs 5,394 crore were sanctioned after she became MD and CEO of ICICI Bank, the Enforcement Directorate (ED) said in its charge sheet in connection with ICICI-Videocon loan case. The 308-page charge sheet filed by ED before a Special Prevention of Money Laundering Act (PMLA) court he...