Supreme Court transfers to itself batch of pleas challenging provisions of IBC on personal insolvency
Supreme Court transfers to itself all petitions pending in various High Courts that challenge provisions of Personal Insolvency under the IBC. All interim directions passed in pending cases to remain in effect till further orders. @AshmitTejKumar has the details.
The Government is set to proceed with reforms to the State’s personal insolvency regime to allow full access to court protections for those struggling debtors hit by the Covid-19 pandemic.
An Indian court halted personal bankruptcy case hearings against Anil Ambani to hear his challenge against the country’s insolvency law
Delhi High Court stays Insolvency & Bankruptcy Code (IBC) proceedings against Anil Ambani in a matter pertaining to a personal guarantee given by him against a loan taken by Reliance Communications Ltd (RCom) and Reliance Infratel Ltd (RITL) from State Bank of India (SBI).
National Company Law Tribunal, Mumbai directs to initiate insolvency proceedings against Reliance Communications Chairman#AnilAmbani to recover Rs. 1,200 crore under personal guarantee clause of the bankruptcy law.
Businessman has €60m debt written off by High Court in largest ever personal insolvency deal
#India has notified the amended #IBC guidelines that enable creditors as well as personal guarantors to approach the tribunal seeking to initiate insolvency proceedings against personal guarantors.