05Jun 2024

UGI USER
bankruptcy law company insolvency corporate debt debt resolution Financial News Indian Judiciary insolvency proceedings JAL claims legal developments NCLT
76
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“NCLT REJECTS JAL’S CLAIMS, ORDERS INSOLVENCY PROCEEDINGS INITIATION”

Why in the news? The National Company Law Tribunal (NCLT) ordered the initiation of insolvency proceedings against Jaiprakash Associates Ltd. (JAL) on June 3. Jaiprakash Associates Ltd. (JAL’s) claim of facing a liquidity crunch and defaulting on debt repayments due to government delays and litigation was rejected by the NCLT. source:slideplayer About National Company Law …

19May 2024

UGI USER
corporate debt corporate restructuring creditor recovery debt resolution financial law IBC India Economy Insolvency and Bankruptcy Code insolvency process NCLT
76
0

CREDITORS ONLY RECEIVED 4% OF CLAIMS UNDER IBC PROCESS

Why in the news? Only 17% of cases under the Insolvency and Bankruptcy Code (IBC) yielded a resolution plan. Post-National Company Law Tribunal (NCLT) admission, the majority of cases were withdrawn. Liquidation for 960 corporate debtors was completed, but creditors realised only 4% of their total admitted claims. source:slideshare About The Insolvency and Bankruptcy Code …

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“NCLT REJECTS JAL’S CLAIMS, ORDERS INSOLVENCY PROCEEDINGS INITIATION”

CREDITORS ONLY RECEIVED 4% OF CLAIMS UNDER IBC PROCESS

UPSC Prelims 2026 Live Paper Discussion & Detailed Answer Key Analysis