resolution process

IL&FS gets more time to wrap up 58 companies’ resolution process

by
IL&FS gets more time to wrap up 58 companies’ resolution process

New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Tuesday granted more time to Infrastructure Leasing and Financial Services (IL&FS) for completing the resolution process of 58 entities. “With regard to 58 entities, the resolution process is at an advanced stage and considerable progress has been made. Just for the time being, we are … Read more

IBC may get a voluntary group insolvency mechanism soon

by
IBC may get a voluntary group insolvency mechanism soon

New Delhi: India is proposing to introduce a “voluntary” group insolvency framework under the bankruptcy law. This will facilitate a joint resolution of stressed entities of a domestic corporate group, given the interconnected nature of their operations, people aware of the development said. The framework will be a part of Insolvency & Bankruptcy Code (IBC) … Read more