13 companies enter in final list of prospective buyers for FRL, Legal News, ET LegalWorld – Legal Firms

Reliance Retail, Adani Group's JV April Moon Retail and 11 other companies have made it to the final list of prospective bidders for acquiring debt-ridden Future Retail Ltd. These companies have been included in the final list of prospective resolution applicants after receiving no objections from stakeholders concerned to the...

Insolvency Law likely to see 2 key tweaks, Legal News, ET LegalWorld – Legal Firms

The Insolvency and Bankruptcy Board of India (IBBI) is set to propose two key amendments to the law governing bankruptcies to enable quicker debt resolutions and distribution of recovery proceeds despite continuation of litigation.At this weekend's unusual closed-door brainstorming sessions, stakeholders agreed that banks must be allowed to restart a...

Nine judicial, technical members join NCLT after taking oath, Legal News, ET LegalWorld – Legal Firms

New Delhi, Nov 18 (PTI) Nine judicial and technical members of the National Company Law Tribunal (NCLT) on Friday took oath at a swearing ceremony held at the premises of the insolvency tribunal here. With the induction of these members, the strength has increased to 36 from the existing 27...

NCLAT rejects plea against approval of Alpha Corp’s bid for Earth Infrastructure, Legal News, ET LegalWorld – Legal Firms

New Delhi, The National Company Law Appellate Tribunal (NCLAT) has declined the plea of a batch of homebuyers who challenged the NCLT's approval of Alpha Corp Development's bid to acquire debt-ridden realty firm Earth Infrastructure. National Company Law Tribunal (NCLT) had on June 8, 2021, approved the resolution plan from...