Byju’s representatives stated that their funds are currently held in an escrow account with the National Company Law Tribunal (NCLT), with a hearing scheduled for July 4. They promised to update the Labour Department following the hearing, media reports revealed
Read MoreThis development comes ahead of a crucial hearing by the National Company Law Tribunal (NCLT) on Tuesday, where IndusInd International Holdings (IIHL), part of the Hinduja Group, will plead for the extension
Read MoreThe major reforms include merging, eliminating and splitting of various CIRP Forms
Read MoreAs of 31 March 2024, a total of 2,800 applications have been filed for initiating the personal insolvency resolution process (PIRP) for Personal Guarantors to Corporate Debtors
Read MoreThe average duration for closing a corporate insolvency resolution plan (CIRP) is 843 days in FY24 against 831 days in FY23
Read MoreHinduja in the driver's seat as RBI is likely to extend the payment deadline for them, since they had bid Rs 1200 crore more than Torrent Group
Read MoreRBI's six-month-long deadline for the resolution plan ends on 17 May amidst concerns of Hinduja having "own" money for the deal. The group is seeking a deadline extension. RFRP begs default procedures to be followed
Read MoreThe tribunal will now examine whether a power of attorney holder can represent an operational creditor in a corporate insolvency resolution process (CIRP) petition
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