More than 1.4 lakh homebuyers have moved closer to or received possession of homes in stalled real estate projects under India's insolvency regime, the Economic Times reports. Financially stronger developers such as…
The National Company Law Tribunal (NCLT) has removed Narender Kumar Sharma as interim resolution professional (IRP) for the stalled Festival City housing project in Noida's Sector 143B, citing his failure to disclose…
The Insolvency and Bankruptcy Board of India has proposed requiring insolvency professionals to examine signs of fraudulent or malicious initiation of the Corporate Insolvency Resolution Process and approach the adjudicating authority under…
The Bombay High Court has upheld the validity of a 0.25 percent regulatory fee levied by the Insolvency and Bankruptcy Board of India (IBBI) on approved resolution plans under the Insolvency and…
Creditors have recovered only Rs 235 crore, or about 1% of admitted claims, from personal guarantees under the Insolvency and Bankruptcy Code (IBC), according to data from the Insolvency and Bankruptcy Board…
The Insolvency and Bankruptcy Board of India (IBBI) has warned that companies are misusing the corporate insolvency resolution process to evade taxes, conceal assets, and avoid regulatory or criminal action. In a…
