Page 2 Insolvency: Latest News and Updates, Top Stories, Videos, Photos About Insolvency

Go First Owes Rs 65.21 Bn To Financial Creditors

Low cost Indian airlines, Go First owes Rs 65.21 billion ($ 798 million) to financial creditors. It was seen in the company's voluntary insolvency filing report on Tuesday. To get it back they have started taking actions against the ...

Go First Suspends Flights To File For Voluntary Insolvency With NCLT

Low cost airline company, Go First voluntarily files for insolvency as it suspends flights for two days. The company CEO Kaushik Khona said that the airline has filed an application before the National Company Law Tribunal (NCLT) on Tuesday. ...

Only 15 Per Cent Insolvency Cases Reach Resolution During Oct-Dec 2022; Recover 27 Pc Of Claimed Amount

Only 15 per cent of the 267 insolvency cases admitted in company law tribunals during October-December 2022 reached resolution with overall recovery of just 27 per cent of claimed amount, the IBBI data showed. As much as 45 per cent cases ...

NCLAT Stays Insolvency Proceedings Against 'Zee'

The National Company Law Appellate Tribunal on Friday stayed the insolvency proceedings against media major Zee Entertainment Enterprises Ltd (ZEEL). Admitting a plea by ZEEL Managing Director and chief executive Punit Goenka, a two-member NCLAT bench stayed the order passed by ...

Future Enterprises Gets 3 Months Extension, For Holding AGM

Future Enterprises has received a three-month extension from the Registrar of Companies for holding its annual general meeting, a regulatory filing by the debt-ridden firm said. The Registrar of Companies, Mumbai, through a letter dated September 21, 2022, has accorded its ...

NCLT Recoveries Improve, To 30.6% In Q1FY23 From 26% In Q1FY22

Recoveries from insolvency cases have inched up to 30.6 per cent in Q1 of the current fiscal from 26 per cent in the year-ago period, while the number of insolvency cases filing/admission rose by 23.5 per cent during this period, says ...

Future Enterprises Faces Second Plea, To Initiate Insolvency

Debt-ridden Future Enterprises Ltd is now facing a second plea filed by an operational creditor of the company before National Company Law Tribunal to initiate insolvency proceedings. The latest petition is filed against Future Enterprises by Retail Detailz India, claiming default ...

Total 1,999 Insolvency Cases Were Going, On As Of June 2022: Govt

As many as 1,999 cases of corporate insolvency resolution process were going on under the insolvency law as of June this year, according to the government. The resolution for corporate debtors is done under the Insolvency and Bankruptcy Code which provides ...

NCLT Orders Insolvency Proceedings, Against Supertech Ltd Over Rs 432 Crore Default

Real estate developer Supertech Ltd on Friday was declared bankrupt by the National Company Law Tribunal (NCLT), a move that could have a bearing on more than 10,000 home buyers of the firm's ongoing projects in the Delhi and NCR region. ...

Insolvency Case: RBI Supersedes Boards Of SREI Companies

Due to governance concerns and defaults by SREI Group Companies, the Reserve Bank of India on October 4 superseded the Boards of Directors of SREI Infra and SREI Equipment Finance Limited. According to two people familiar with the situation, Srei Group's ...

Insolvency Law Is Altering Society's Perception Of Business Failures: Sahoo

Fuelled by a huge unsatiated appetite for freedom of exit, the insolvency law is changing the way the society perceives business failures as it becomes a reform by, for and of the stakeholders, according to IBBI Chairperson M S Sahoo. ...

Jet Airways Shares Doubles In Less Than A Month; Stock Hits Upper Circuit Again

Shares in Jet Airways on January 7 have hit upper circuit again for the sixth consecutive day. The gains are on the back of South American's expression of interest in the crisis hit airline company. Despite the gains, the stock of ...

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