national company law appellate tribunal

Competition authorities cannot look at coordinated enforcement action against international cartels: CCI chief

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Competition authorities cannot look at coordinated enforcement action against international cartels: CCI chief

As efforts continue to curb unfair business practices, CCI chief Ravneet Kaur on Tuesday said competition authorities cannot look at coordinated action in terms of enforcement against international cartels as each country has a different ecosystem. While addressing the media about the BRICS International Competition Conference to be held in the national capital from October … Read more

Suspended Board Can’t Appoint Resolution Pro: NCLAT

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Suspended Board Can’t Appoint Resolution Pro: NCLAT

A suspended board of directors has no power under the Insolvency and Bankruptcy Code to appoint a resolution professional or to replace an existing resolution professional, the National Company Law Appellate Tribunal (NCLAT) has held. In a case involving SLO Industrial Ltd, the Chennai bench of the NCLAT consisting of M Venugopal and Kanthi Narahari … Read more

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

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

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