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Insolvency Law In Review - December 2020

Insolvency Law In Review - December 2020
livelaw.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livelaw.in Daily Mail and Mail on Sunday newspapers.

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Classification as fraud account unjustified: RCom

Classification as fraud account unjustified: RCom
In the case of Reliance Infratel, Reliance Jio unit Reliance Digital Platform is the successful Resolution Applicant and lenders will get Rs 4,400 crore from the implementation.
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By Express News Service
NEW DELHI: After several Indian banks marked the loan accounts of Reliance Communications Ltd and two other subsidiaries as fraudulent, the bankrupt Anil Ambani-led firm released a statement Wednesday calling the classification as “entirely unjustified”.
The Delhi High Court on Tuesday had directed two of these banks Union Bank of India and Indian Overseas Bank to maintain the status quo regarding the classification, after RCom and its subsidiary Reliance Telecom Ltd challenged the move. ....

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Delhi High Court orders no coercive action in the RCOM matter

Delhi High Court orders no coercive action in the RCOM matter
By
IANS
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Published on
Mon, Dec 28 2020 16:12 IST
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Delhi High Court. (File Photo: IANS). Image Source: IANS News
New Delhi, Dec 28 : Delhi High Court has directed the two state owned banks, Union Bank of India and Indian Overseas Bank to maintain the status quo in a matter pertaining to the classification of accounts of Reliance Communication Ltd. ( RCOM) and its subsidiary, Reliance Telecom Ltd. (RTL) as fraudulent.
RCOM and RTL had challenged the recent move by the Union Bank of India and Indian Overseas Bank to mark these accounts as fraudulent. ....

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Prudent Arc Limited vs Sidha Neelkanth Paper Industries ... on 22 December, 2020

Prudent Arc Limited vs Sidha Neelkanth Paper Industries ... on 22 December, 2020
indiankanoon.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiankanoon.org Daily Mail and Mail on Sunday newspapers.

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NCLAT wants three more months to decide whether bankrupt telcos' spectrum can be sold

In an order dated September 25, the SC had directed the appellate tribunal to hear the matter expeditiously and gave it two months to make its decision. ....

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