corporate insolvency

‘No settlement without backing of Byju’s creditors’ – Times of India

polite2 days ago03 mins

BENGALURU: The National Company Law Appellate Tribunaldismissed attempts by Byju’s founder Byju Reveendran’s brother Riju Ravindran and cricket body BCCI to withdraw insolvency proceedings against the edtech firm without creditor approval.This decision reinforces the authority of the committee of creditors (CoC) in thecorporate insolvency case.NCLAT upheld an earlier decision by the Bengaluru bench of the…

Only 13 of 30 National Company Law Tribunal courts work full time – Times of India

polite6 months ago04 mins

NEW DELHI: In a major setback for government’s flagship reform initiative on insolvency, almost a third of the posts of members in the National Company Law Tribunal (NCLT) – which means 19 out of the 63 sanctioned strength, including the president – are lying vacant. While there were eight vacancies, 11 members retired at the…