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The matter relates to SBI's move to classify the RCom account as fraud and report Ambani to the RBI raises concerns around procedural fairness and regulatory consistency. The action was taken through an ex-parte order--or orders issued without a hearing--and based on a 2020 forensic audit related to a 2016 loan, despite no recent urgency or engagement from the bank for nearly a year.

&nbsp;

Anil Ambani’s counsel terms SBI’s ‘fraud’ tag on RCom account as 'shocking', cites regulatory overreach

The National Company Law Appellate Tribunal (NCLAT) has dismissed the plea filed by debt-ridden realty firm Supertech former promoter Ram Kishor Arora against personal insolvency proceedings initiated against him.

NCLAT dismisses Supertech promoter's plea against personal insolvency proceedings 

The National Company Law Appellate Tribunal (NCLAT) has set aside the penalty imposed against lenders of debt-ridden Mudra Denim, saying there was no laxity on their part for delay in insolvency process.

NCLAT set aside penalty on lenders for delay in Mudra Denim insolvency process

NCLT has directed for the liquidation of debt-ridden Tulip Hotels, as the tribunal failed to receive any bidder during its insolvency resolution process within the prescribed timeline.

NCLT directs liquidation of Tulip Hotels as it fails to get bidder within prescribed timeline

A proper evaluation was made based on the earlier direction given by the NCLAT in this matter and a "clear decision was made" by the Committee of Creditors (CoC) of SKS Power Generation. 
&nbsp;

SKS Power Insolvency: Creditors receive Rs 1,950 crore from Sarda Energy & Mining 

The firm, which has sizable exposure to China's real estate sector, apologised to its investors in a letter that said it had total liabilities of about 420 billion yuan ($58 billion) to 460 billion yuan ($64 billion).

China wealth manager Zhongzhi flags insolvency, liabilities of $64 bln

Under the IBC, which provides for a market-linked and time-bound resolution process of stressed assets, creditors have witnessed recoveries of nearly Rs 3 lakh crore so far and the recovery amount stood at more than Rs 51,000 crore in 2022-23 financial year.

Resolutions under insolvency law likely to touch 300 this fiscal; efforts on to speed up process: Officials

GoFirst facing financial crisis is now ready to be sold, Resolution professional called for EoI, know full details in this video

Is GoFirst facing financial crisis?

The role of yet another insolvency resolution professional (RP), Girish Juneja, has come under the scanner of the Committee of Creditors (COC) of Hindustan National Glass (HNG).

Hindustan National Glass insolvency: Former CJI NV Ramana puts Resolution Professional in the dock

Go First Crisis: The suspended board of Go First on Tuesday filed caveats before the Supreme Court against four aircraft lessors of the crisis-hit airline.

Go First Crisis: Airline's suspended board files caveats before Supreme Court against aircraft lessors

NCLAT&nbsp;has set aside the insolvency proceedings against leading bulk tea producer McLeod Russel following a settlement between the promoter and IL&amp;FS Infrastructure Debt Fund

NCLAT set aside insolvency proceedings against McLeod Russel

A two-member bench of NCLAT headed by Chairperson Ashok Bhushan said that the realtor has submitted a settlement letter dated 08th May 2023 with its financial creditor, IDFC First Bank.

NCLAT closes insolvency proceedings against Marvel Realtors & Developers

Recoveries from insolvency cases jumped up to 30.6 per cent during April-June period of this fiscal - report

Operational creditors of the Future group firm have filed claims worth Rs 265.16 crore, according to the documents uploaded on the official website of Future Retail Ltd (FRL).

Future Retail creditors file claims worth Rs 21,324 crore before insolvency resolution process

Government may soon initiate insolvency proceedings on foreign assets. Action can be started on the properties of fugitive promoters. Know full details from Tarun Sharma.

Zee Biz Exclusive: Real Estate - Government Can Start Foreign Property Insolvency Soon

Other bidders include Yes Bank, Bandhan Financial Holdings, Cholamandam Investment, OakTree Capital, Blackstone, Brookfield, TPG, KKR, Piramal Finance and Poonawala Finance, sources said.

Adani, Tata AIG, ICICI Lombard, Nippon Life among 54 prominent bidders for Anil Ambani-promoted Reliance Capital

Coronavirus Lockdown: Major relief announced for these firms 

As the Supreme Court on Friday set aside the NCLAT ruling on Essar Steel that provided for equal distribution of proceeds between financial and operational creditors, decks have been cleared for ArcelorMittal's acquisition of the bankrupt steel company.

ArcelorMittal-Essar Steel: Why SC NCLAT ruling is a major success of insolvency mechanism in India - Explained

In this segment of Zee Business' Money Guru, know the best health policies for heart patients.

Money Guru: Best health policies for heart patients

In this segment of Zee Business' Money Guru, know what should the buyer do if the builder goes into insolvency.

Money Guru:  know what should the buyer do if the builder goes into insolvency

insolvency

The matter relates to SBI's move to classify the RCom account as fraud and report Ambani to the RBI raises concerns around procedural fairness and regulatory consistency. The action was taken through an ex-parte order--or orders issued without a hearing--and based on a 2020 forensic audit related to a 2016 loan, despite no recent urgency or engagement from the bank for nearly a year.
 

The National Company Law Appellate Tribunal (NCLAT) has dismissed the plea filed by debt-ridden realty firm Supertech former promoter Ram Kishor Arora against personal insolvency proceedings initiated against him.

The National Company Law Appellate Tribunal (NCLAT) has set aside the penalty imposed against lenders of debt-ridden Mudra Denim, saying there was no laxity on their part for delay in insolvency process.

NCLT has directed for the liquidation of debt-ridden Tulip Hotels, as the tribunal failed to receive any bidder during its insolvency resolution process within the prescribed timeline.

A proper evaluation was made based on the earlier direction given by the NCLAT in this matter and a "clear decision was made" by the Committee of Creditors (CoC) of SKS Power Generation.
 

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insolvency News- Zee Business provides latest news on insolvency, insolvency news Today, Top News on insolvency, update on insolvency Stay updated with business news, breaking news headlines.

Insolvency

Anil Ambani’s counsel terms SBI’s ‘fraud’ tag on RCom account as 'shocking', cites regulatory overreach

NCLAT dismisses Supertech promoter's plea against personal insolvency proceedings

NCLAT set aside penalty on lenders for delay in Mudra Denim insolvency process

NCLT directs liquidation of Tulip Hotels as it fails to get bidder within prescribed timeline

SKS Power Insolvency: Creditors receive Rs 1,950 crore from Sarda Energy & Mining

China wealth manager Zhongzhi flags insolvency, liabilities of $64 bln

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Top News

PM Modi to begin three-nation visit to Jordan, Ethiopia and Oman from December 15

RBI steps in to ease liquidity strain, buys Rs 50,000 crore of bonds — What it means for banks and borrowers?

India’s bond market must expand sevenfold to match growth ambitions: NITI Aayog CEO BVR Subrahmanyam

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Branded meals on premium trains: IRCTC begins PoC trials on Vande Bharat, Amrit Bharat services

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