resolution plan

NCLT doubts Videocon’s sale remained confidential

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NCLT doubts Videocon’s sale remained confidential

(This story originally appeared in on Jun 16, 2021) MUMBAI: In its order approving the resolution plan submitted by for the Videocon Group, the National Company Law Tribunal (NCLT) has raised doubts over maintenance of confidentiality during the process. NCLT has highlighted how Vedanta’s bid was close to the liquidation value, which is a secret. … Read more

IBC to trump PMLA in case of corporate debtors, not wrongdoers: SC

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IBC to trump PMLA in case of corporate debtors, not wrongdoers: SC

New Delhi: In a ruling that will have a bearing on several high-profile insolvency cases, the Supreme Court has clarified that proceedings against a corporate debtor over money-laundering charges would end once a resolution plan is approved, but continue against wrongdoers in the erstwhile management. A three-judge bench led by Justice RF Nariman recently clarified … Read more