January 18, 2025
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Tag: insolvency proceedings

Insolvency proceedings ordered against JAL, flagship firm of Jaiprakash Group | India News – Times of India

admin05 mins

NEW DELHI: National Company Law Tribunal on Monday ordered the initiation of insolvency proceedings against Jaiprakash Associates Ltd (JAL), six years after lenders led by ICICI Bank first sought action.The move will impact the company’s real estate business in Noida and Greater Noida, although the scale of operation in this company is much smaller than…

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Personal guarantors can face insolvency proceedings: Supreme Court – Times of India

admin04 mins

NEW DELHI: The Supreme Court on Thursday upheld the constitutional validity of various provisions of Insolvency and Bankruptcy Code (IBC), including Section 95, which allows creditors to initiate insolvency proceedings against personal guarantors.A bench of Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Mishra rejected a plea against the provisions of…

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