Number of corporate insolvency resolution processes admitted by NCLT down 83% during Apr-June

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The number of corporate insolvency resolution processes (CIRPs) admitted by the National Company Law Tribunal (NCLT) dropped by a massive 83% during the April-June quarter on a sequential basis. While 435 cases were admitted in the final quarter of the last fiscal, only 76 cases were admitted during the first quarter of the current fiscal, … Read more

Committee of Creditors can vote on multiple resolution plans simultaneously: IBBI

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In a major amendment to the corporate insolvency resolution process (CIRP) regulations, the committee of creditors (CoC) can now vote on all compliant resolution plans simultaneously, according to a notification by the Insolvency and Bankruptcy Board of India (IBBI) on Friday. The plan which receives the highest votes, subject to the 66% regulatory threshold, shall … Read more