committee of creditors

Co Submitted Resolution Plan In Oct 2024, Reached Settlement With Lender In Jan

Group's resolution plan for the takeover of insolvent Jaiprakash Associates Limited.

The insolvency resolution of Jaiprakash Associates Ltd. is embroiled in a dispute over the approval of Adani Enterprises' bid over Vedanta's higher offer. Vedanta alleges procedural unfairness and a "commercial conspiracy," challenging the committee of creditors' reliance on "commercial wisdom" over value maximisation.

A Bench of Justice J.B. Pardiwala and Justice R. Mahadevan delivered the judgment while deciding appeals arising from insolvency proceedings initiated against Takshashila Heights India Private Limited, the developer of the real estate project Takshashila Elegna in Ahmedabad.

Hero Electric Vehicles Pvt. Ltd. has been ordered for liquidation by the NCLT after insolvency resolution efforts failed. No resolution proposal secured the necessary 66% creditor approval, leading to the tribunal's decision under the IBC. The company's insolvency proceedings began in December 2024.

In an important judgment in the insolvency and bankruptcy field, the Supreme Court on Monday ruled that a ‘resolution plan’ for stressed assets becomes irrevocable once approved by the committee of creditors (CoCs) and submitted to the adjudicatory authority under the Insolvency and Bankruptcy Code (IBC).

New Delhi, Nov 23 () Wilful defaulters and entities whose accounts have been classified as NPAs will be barred from bidding for assets under the insolvency law, with the President giving his assent to an ordinance to amend the bankruptcy code.

Small and medium enterprises (SMEs) have pressed their demand that the committee of creditors (CoC) for Essar Steel revise the distribution pattern to ensure full payment to them.

Reliance Communications (RCom) on Sunday said a meeting of the company's committee of creditors is scheduled to be held on Monday.

New Delhi, Mar 27 () The lenders of Essar Steel Wednesday informed the National Company Law Appellate Tribunal (NCLAT) that meeting of the committee of creditors of the debt-ridden firm is going on over distribution of Rs 42,000 crore coming from the resolution plan of global steel major