Daily Headlinez Top News Updates
NEW DELHI: The committee of creditors (CoC) cannot modify or alter a resolution plan for reallocation of funds of dissenting creditors, after it is approved, insolvency appellate tribunal NCLAT has said. Dismissing an appeal by Bank of Baroda in the Reliance Communications Infrastructure (RCIL) matter, NCLAT said the assenting members of the CoC cannot alter…
NEW DELHI: In a decision that could have a salutary bearing on the Insolvency and Bankruptcy Code (IBC), Supreme Court on Friday reversed its eyebrow-raising May 2 verdict, directing liquidation of bankrupt Bhushan Power and Steel Limited, to put back in place the National Company Law Appellate Tribunal’s Feb 2020 decision to allow Sajjan-Jindal-led JSW…
Justice Sharad Kumar Sharma of NCLAT recused himself from an insolvency case. NEW DELHI: The National Company Law Appellate Tribunal at Chennai said Justice Sharad Kumar Sharma recused himself from hearing one particular case as he was contacted for a favourable order. “We are anguished to observe that one of us, Member (Judicial), has been…
