PREPACK INSOLVENCY WHY IS PREPACK INSOLVENCY A PANACEA FOR MICRO, SMALL AND MEDIUM CORPORATES. The Scheme in brief: • The borrower has to be a corporate body and must have committed default of a minimum Rs.10 lacs and maximum Rs.1 Cr. • Pass a Special Resolution that the company will file an application before NCLT […]
Insolvency proceedings does not prevent Corporate Debtor from filing an application under Section 11 of Arbitration and Conciliation Act, 1996 against another party – Godavari Projects (J.V) Vs. Union of India – Delhi High Court. In the case of Godavari Projects (J.V) Vs. Union of India, heard in the Delhi High Court, the proceedings revolved […]
Whether the observations made in the Forensic Audit Report can be the sole basis for Bank to conclude an event of Wilful Default? – High Court In this case, the petitioner is challenging an order from the Punjab National Bank (Respondent Bank) that declared them a “Wilful Defaulter” under the “Master Circular on Wilful Defaulters, […]
