Supreme Court Insolvency Proceedings

The Supreme Court on Wednesday set aside National Company Law Appellate Tribunal's verdict that had stopped insolvency proceedings against embattled ed-tech firm Byju's.

The Supreme Court has questioned whycrisis-hit ed-tech major Byju's chose to settle its dues only with the BCCI despite beingin Rs 15,000 crore debt.

The Supreme Court on Wednesday revived insolvency proceedings against Byju's by putting a previous tribunal order on hold, in a victory for US lenders that say they are owed $1 billion by the education technology company.

The Supreme Court upheld certain key provisions of the Insolvency and Bankruptcy Code which were challenged on grounds of being violative of fundamental rights like the right to equality of those against whom insolvency proceedings are initiated.

The Supreme Court on Monday assured that it will protect the interest of homebuyers in Supertech's twin tower in view of the Interim Resolution Professional (IRP) appointed in the insolvency proceedings against the real estate company.

The Supreme Court on Tuesday asked a consortium of banks to file an affidavit on a fresh petition of Future Retail Ltd. (FRL) seeking quashing of lenders' letters warning initiation of insolvency proceedings against it.

Upholding the validity of the notification, the top court ruled that initiation of an insolvency resolution plan for a company does not absolve corporate guarantees given by individuals from paying up the dues to financial institutions.

The Supreme Court on Monday asked Department of Telecom (DoT) to apprise it as how it plans to recover Adjusted Gross Revenue (AGR) related dues from telecom companies facing insolvency proceedings and whether spectrum given to these companies can be sold.

The Supreme Court Monday said fugitive economic offender Vijay Mallya cannot use pendency of his plea in the top court to stall insolvency proceedings initiated against him by lenders in other countries.

The Supreme Court on Monday said that Vijay Mallya cannot use pendency of his plea in the top court to stall insolvency proceedings initiated against him in other jurisdictions.

The Supreme Court on Tuesday asked banks to maintain status quo and not to initiate insolvency proceedings against loan defaulting power companies in the country.

The Supreme Court on Thursday said that the promoters of Jaiprakash Associates cannot bid for Jaypee Infratech, which is facing insolvency proceedings before the National Company Law Tribunal (NCLT).

In a setback to the Jaypee group, the Supreme Court today asked the National Company Law Tribunal (NCLT), Allahabad, to deal with the insolvency proceedings against Jaypee Infratech Ltd (JIL) and barred the group or its promoters from participating in the fresh bidding process.

The top court also allowed RBI to direct banks to initiate separate insolvency proceedings against JIL's holding company Jaiprakash Associate Limited.

The firm has also asked for termination of insolvency proceedings against Binani Cements.

The Supreme Court on Wednesday set aside National Company Law Appellate Tribunal's verdict that had stopped insolvency proceedings against embattled ed-tech firm Byju's.

The Supreme Court has questioned whycrisis-hit ed-tech major Byju's chose to settle its dues only with the BCCI despite beingin Rs 15,000 crore debt.

The Supreme Court on Wednesday revived insolvency proceedings against Byju's by putting a previous tribunal order on hold, in a victory for US lenders that say they are owed $1 billion by the education technology company.

The Supreme Court upheld certain key provisions of the Insolvency and Bankruptcy Code which were challenged on grounds of being violative of fundamental rights like the right to equality of those against whom insolvency proceedings are initiated.

The Supreme Court on Monday assured that it will protect the interest of homebuyers in Supertech's twin tower in view of the Interim Resolution Professional (IRP) appointed in the insolvency proceedings against the real estate company.

The Supreme Court on Tuesday asked a consortium of banks to file an affidavit on a fresh petition of Future Retail Ltd. (FRL) seeking quashing of lenders' letters warning initiation of insolvency proceedings against it.

Upholding the validity of the notification, the top court ruled that initiation of an insolvency resolution plan for a company does not absolve corporate guarantees given by individuals from paying up the dues to financial institutions.

The Supreme Court on Monday asked Department of Telecom (DoT) to apprise it as how it plans to recover Adjusted Gross Revenue (AGR) related dues from telecom companies facing insolvency proceedings and whether spectrum given to these companies can be sold.

The Supreme Court Monday said fugitive economic offender Vijay Mallya cannot use pendency of his plea in the top court to stall insolvency proceedings initiated against him by lenders in other countries.

The Supreme Court on Monday said that Vijay Mallya cannot use pendency of his plea in the top court to stall insolvency proceedings initiated against him in other jurisdictions.

The Supreme Court on Tuesday asked banks to maintain status quo and not to initiate insolvency proceedings against loan defaulting power companies in the country.

The Supreme Court on Thursday said that the promoters of Jaiprakash Associates cannot bid for Jaypee Infratech, which is facing insolvency proceedings before the National Company Law Tribunal (NCLT).

In a setback to the Jaypee group, the Supreme Court today asked the National Company Law Tribunal (NCLT), Allahabad, to deal with the insolvency proceedings against Jaypee Infratech Ltd (JIL) and barred the group or its promoters from participating in the fresh bidding process.

The top court also allowed RBI to direct banks to initiate separate insolvency proceedings against JIL's holding company Jaiprakash Associate Limited.

The firm has also asked for termination of insolvency proceedings against Binani Cements.