File For Bankruptcy Petition: Insolvency describes the financial situation of an enterprise failing to pay its debts as they become due. The company, in other words, has more debt than assets or income to adhere to its financial obligation towards its creditors. To address the insolvency of a company by helping it revive, the Corporate […]
Home buyers of stressed realty projects may be governed by a separate regulatory framework if a proposal put forward by the insolvency regulator for public comments is approved. The Insolvency and Bankruptcy Code (IBC) was amended in 2018 to clarify the status of home buyers as financial creditors. However, a large number of real estate […]
Amid a crash in recovery by financial creditors in the March quarter, the Insolvency and Bankruptcy Board of India (IBBI) held a meeting with potential investors and law firms like Shardul Amarchand Mangaldas on Wednesday, to brainstorm ways to boost resolution proceeds. The meeting was chaired by new IBBI chairman Ravi Mittal, sources told FE. […]