Income tax claims to be treated in accordance with the provisions of the Code

August 15, 2018 Editorial Team INSOL India

In Leo Edibles & Fats Limited and the Tax Recovery Officer (Central), Income Tax Department, Hyderabad (“Respondent 1”) and others, the High Court of Judicature at Hyderabad allowed the registration of an asset purchased from the liquidated estate of a..

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Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018 (the “Bill”) passed by Lok Sabha

August 15, 2018 Editorial Team INSOL India

The Bill was passed by the Lok Sabha on July 31, 2018, paving way to replace the June 6, 2018 Ordinance (“Ordinance”) subject to approval from the Rajya Sabha. The most distinguishing feature of the Bill when compared to the..

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Insol International's Annual Regional Conference recently held in New York

June 7, 2018

Insol International's annual regional conference was held in New York recently. The conference was attended by delegates from different parts of the world. It was a congregation of different professionals working in the insolvency area, such as insolvency practitioners, lawyers,..

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The National Company Law Appellate Tribunal (“NCLAT”) grants stay on corporate insolvency resolution process of Reliance Communications Limited

June 1, 2018

The Mumbai bench of the National Company Law Tribunal, on May 15, 2018, admitted three petitions filed against Reliance Communications Limited (“RCOM”), Reliance Infratel Limited (“RITL”) and Reliance Telecom Limited (“RTL”) by Ericsson under the Insolvency and Bankruptcy Code. RCOM, RITL..

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The National Company Law Appellate Tribunal (“NCLAT”) to expedite the hearing of the pleas of the resolution applicants of Essar Steel Limited (“ESL”)

June 1, 2018

The resolution applicants of ESL i.e. NuMetal and ArcelorMittal, had filed applications before the NCLAT challenging the disqualification of their respective bids submitted under the corporate insolvency resolution process of ESL. The NCLAT, on May 22, 2018, had admitted the petitions..

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The lenders of Binani Cement Limited approve UltraTech Cement Limited’s bid

June 1, 2018

The creditors of Binani Cement Limited (“BCL”) have approved the resolution plan submitted by UltraTech Cement Limited (“UCL”), on May 28, 2018 for the acquisition of BCL by UCL for Rs. 7950 Crores. The acquisition of BCL by USL is, however,..

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