In a recent development, the National Company Law Tribunal (NCLT) has rejected an insolvency plea filed by Piramal Capital and Housing Finance, representing the original lender Dewan Housing Finance Corporation (DHFL), against Township Developers India. The financial creditor initiated the insolvency petition, citing the realty developer as a guarantor for defaulting on mortgage loans amounting to over ₹5,855 crore. Persons
The resolution professional (RP) in the Anil Ambani insolvency case has sought an urgent hearing at the National Company Law Tribunal (NCLT) on the grounds that it had been more than a year since he submitted his report on the merits of a lawsuit brought by State Bank of India for recovery of ₹1,200 crore loans from the industrialist. Jitender
The Supreme Court on September 6,2021 refused to stay the implementation of DHFL Resolution Plan on the plea filed by 63 moons tech and directed the NCLAT to hear the issue expeditiously. The Supreme Court on Monday refused to stay the implementation of DHFL Resolution Plan on the plea filed by 63 moons tech and directed the National Company Law
Debt waiver for small distressed borrowers under IBC- Corporate affairs secretary Injeti Srinivas said discussions have been held with the microfinance industry regarding plans to give debt waiver for “small distressed borrowers” under the insolvency law framework. IBC provisions pertaining to personal guarantor to corporate debtor would be coming into effect immediately, followed by those related to partnership and proprietorship.
