In the matter of Reliance Capital Ltd- undergoing Corporate Insolvency Resolution Process, EPFO invested Rs. 2500 Crores in Relaince Capital Ltd which had defaulted in the payment of interest since October, 2019 and the total defaulted interest on Non-Convertible debentures (Secured) amounted to Rs. 534.64 Crores. A request was made […]
The insolvency resolution process, which seeks to address stressed assets in a quick and time-bound manner, appeared to lose its steam in 2021 with delays and eyebrows were also raised over actual realisations as creditors took steep “haircuts” in some cases. The National Company Law Tribunal, the designated authority under […]
Section 95 of the IBC, 2016 states that a creditor either himself or jointly along with other creditors or through a Resolution Professional may file an application to the Adjudicating Authority for the initiation of the Insolvency Proceedings under the Code. Further, where any dent is owed to a partnership […]
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