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Cannot Direct Government To Notify Law Passed By Parliament: Supreme Court
The courts cannot direct the government to notify a law passed by Parliament, the Supreme Court said today while dismissing a plea seeking implementation of certain provisions of the Insolvency and Bankruptcy Code.
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Financial Creditors Take Maximum Risk, Need To Be Compensated: RBI
Amendments to India's bankruptcy law should focus on a financial creditor-led framework for resolution of stressed assets, the governor of the country's central bank said on Thursday.
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Go First Extends Flight Cancellation Till November 30 Citing ''Operational Reasons''
Earlier on May 2, Go First cancelled its flights and filed for voluntary bankruptcy before the National Company Law Tribunal (NCLT).
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Go First Struggles To Resume Operations, Flight Cancellation Extended Till July 10
The airline operator filed for voluntary bankruptcy in early May before the National Company Law Tribunal.
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Go First Struggles To Resume Ops, Extends Flight Cancellations Till June 25
Crisis-hit airline Go First on Wednesday announced that its scheduled flight operations will remain cancelled till June 25 due to operational reasons. Earlier, the airline said that operations would remain cancelled till June 22.
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Google Fined RUB 3 Million in Russia Over YouTube Videos on LGBT Propaganda: Reports
A Russian court fined Alphabet's Google RUB 3 million (nearly Rs. 31 lakh) on Thursday for failing to delete YouTube videos it said promoted "LGBT propaganda" and "false information" about Russia's military campaign in Ukraine, Russian news agencies reported. Over the last year Moscow has levied dozens of fines against Western tech companies as par...
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Law Tribunal Stays Insolvency Proceedings Against Zee Entertainment
The bankruptcy proceedings were initiated after IndusInd Bank Ltd filed a petition against Zee Entertainment over a default of 830.80 million rupees ($10.04 million).
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Banks May Lose Out In Big Change Planned In Insolvency Law
The government seeks to achieve an "equitable scheme of distribution of proceeds," it said in a discussion paper issued in January that recommends other significant changes to the Insolvency and Bankruptcy Code.
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Government To Amend Insolvency Law To Reduce Time Taken For Resolution Process
The government is preparing to amend the insolvency law as it looks to reduce the time taken for completion of resolution process of stressed assets and prevent significant erosion of value of the assets.
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Can't Afford To Lose Bankruptcy Law's Sheen: Nirmala Sitharaman
Union Minister Nirmala Sitharaman on Saturday said insolvency law cannot lose its "sheen".
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"I Bow Down...": What Outgoing Chief Justice NV Ramana Said On Last Day In Office
On his final day as CJI, NV Ramana delivered judgements on the PIL seeking a ban on 'election freebies', the 2007 Gorakhpur riots case, the Karnataka mining case, Rajasthan mining lease issue and liquidation regulations under bankruptcy law
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NCLT Rejects Amazon’s Objections, Orders Insolvency Proceedings Against Future Retail
The National Company Law Tribunal (NCLT) has ordered insolvency proceedings against Future Retail under the Insolvency and Bankruptcy Code (IBC). The tribunal also rejected objections raised by Amazon claiming that any bankruptcy proceedings at this stage would compromise the e-commerce company's rights.
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Celsius Users May Have Signed Away Rights to Their Crypto Assets, Lawyers Cite ‘Terms of Service’
As per lawyers representing Celsius, many of the 1.7 million registered Celsius users from over 100 nations have already transferred the title of their assets to the crypto lending firm, that is now free to use, sell, pledge, and rehypothecate them according to its requirements. The development comes in the backdrop of the ongoing probe in Celsius...
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Celsius Onboards New Legal Team to Assist on Its Restructuring, Days After Firing 25 Percent Staff
Celsius Network, the US-based crypto lender is currently struggling to cope with the ongoing slump in the global crypto arena. The company has hired a new legal team from the Kirkland & Ellis LLP law firm to help it come out of its corporate malfunctioning. The newly appointed team of lawyers will advise the Celsius team on various options, which m...
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Future Group Entities' Shares Rise After New Verdict Penalises Amazon
Shares of Future Group companies rose sharply on Monday after the National Company Law Tribunal (NCLT) rejected Amazon.com Inc's appeal against an antitrust suspension of its deal with Future Group, saying the US company concealed information when it sought approval in 2019.
-
Cannot Direct Government To Notify Law Passed By Parliament: Supreme Court
The courts cannot direct the government to notify a law passed by Parliament, the Supreme Court said today while dismissing a plea seeking implementation of certain provisions of the Insolvency and Bankruptcy Code.
-
Financial Creditors Take Maximum Risk, Need To Be Compensated: RBI
Amendments to India's bankruptcy law should focus on a financial creditor-led framework for resolution of stressed assets, the governor of the country's central bank said on Thursday.
-
Go First Extends Flight Cancellation Till November 30 Citing ''Operational Reasons''
Earlier on May 2, Go First cancelled its flights and filed for voluntary bankruptcy before the National Company Law Tribunal (NCLT).
-
Go First Struggles To Resume Operations, Flight Cancellation Extended Till July 10
The airline operator filed for voluntary bankruptcy in early May before the National Company Law Tribunal.
-
Go First Struggles To Resume Ops, Extends Flight Cancellations Till June 25
Crisis-hit airline Go First on Wednesday announced that its scheduled flight operations will remain cancelled till June 25 due to operational reasons. Earlier, the airline said that operations would remain cancelled till June 22.
-
Google Fined RUB 3 Million in Russia Over YouTube Videos on LGBT Propaganda: Reports
A Russian court fined Alphabet's Google RUB 3 million (nearly Rs. 31 lakh) on Thursday for failing to delete YouTube videos it said promoted "LGBT propaganda" and "false information" about Russia's military campaign in Ukraine, Russian news agencies reported. Over the last year Moscow has levied dozens of fines against Western tech companies as par...
-
Law Tribunal Stays Insolvency Proceedings Against Zee Entertainment
The bankruptcy proceedings were initiated after IndusInd Bank Ltd filed a petition against Zee Entertainment over a default of 830.80 million rupees ($10.04 million).
-
Banks May Lose Out In Big Change Planned In Insolvency Law
The government seeks to achieve an "equitable scheme of distribution of proceeds," it said in a discussion paper issued in January that recommends other significant changes to the Insolvency and Bankruptcy Code.
-
Government To Amend Insolvency Law To Reduce Time Taken For Resolution Process
The government is preparing to amend the insolvency law as it looks to reduce the time taken for completion of resolution process of stressed assets and prevent significant erosion of value of the assets.
-
Can't Afford To Lose Bankruptcy Law's Sheen: Nirmala Sitharaman
Union Minister Nirmala Sitharaman on Saturday said insolvency law cannot lose its "sheen".
-
"I Bow Down...": What Outgoing Chief Justice NV Ramana Said On Last Day In Office
On his final day as CJI, NV Ramana delivered judgements on the PIL seeking a ban on 'election freebies', the 2007 Gorakhpur riots case, the Karnataka mining case, Rajasthan mining lease issue and liquidation regulations under bankruptcy law
-
NCLT Rejects Amazon’s Objections, Orders Insolvency Proceedings Against Future Retail
The National Company Law Tribunal (NCLT) has ordered insolvency proceedings against Future Retail under the Insolvency and Bankruptcy Code (IBC). The tribunal also rejected objections raised by Amazon claiming that any bankruptcy proceedings at this stage would compromise the e-commerce company's rights.
-
Celsius Users May Have Signed Away Rights to Their Crypto Assets, Lawyers Cite ‘Terms of Service’
As per lawyers representing Celsius, many of the 1.7 million registered Celsius users from over 100 nations have already transferred the title of their assets to the crypto lending firm, that is now free to use, sell, pledge, and rehypothecate them according to its requirements. The development comes in the backdrop of the ongoing probe in Celsius...
-
Celsius Onboards New Legal Team to Assist on Its Restructuring, Days After Firing 25 Percent Staff
Celsius Network, the US-based crypto lender is currently struggling to cope with the ongoing slump in the global crypto arena. The company has hired a new legal team from the Kirkland & Ellis LLP law firm to help it come out of its corporate malfunctioning. The newly appointed team of lawyers will advise the Celsius team on various options, which m...
-
Future Group Entities' Shares Rise After New Verdict Penalises Amazon
Shares of Future Group companies rose sharply on Monday after the National Company Law Tribunal (NCLT) rejected Amazon.com Inc's appeal against an antitrust suspension of its deal with Future Group, saying the US company concealed information when it sought approval in 2019.
