The Hon’ble National Company Law Tribunal, Hyderabad has nodded its approval for the Resolution Plan of Rs. 501 Crore submitted by a consortium of B. Subba Reddy and C. Venkateswara Reddy for revival of Indu Projects Limited. The Resolution Plan was earlier approved by the Committee of Creditors with 100% voting share. The Resolution Plan …
NCLT Hyderabad Approves Resolution Plan for Indu Projects Ltd Read More »
The Securities Exchange Board of India (“SEBI”) vide its Circular No. SEBI/LAD–NRO/GN/2023/137 dated July 03, 2023, notified the Securities and Exchange Board of India (Alternative Dispute Resolution Mechanism) (Amendment) Regulations, 2023. Pursuant to said Regulation it has amended the following regulations for insertion of resolution of disputes through Alternate Dispute Resolution (ADR) mechanism such as …
Arbitration is a private dispute resolution mechanism based on an agreement between parties, where they agree to abide by the decision of an arbitrator which is legally enforceable. It is in the principle of arbitration that parties can choose arbitrators or rely on an arbitration institution. If the appointment process fails, either party can apply …
Labour exploitation is violation of human rights and it is necessary to keep check on factories in order to avoid such violation. In this regard there are various legislative provisions in place to prevent such exploitation. These provisions prescribe maximum working hours for every factory and industry for any given day or week. But there …
Government Servants are not entitled to overtime allowance Read More »
On 07.02.2023, Hon’ble Supreme Court in SLP(C) No. 16464/2021 and WP No. 1281/2021 (lead cases in the group) appointed two Nodal Counsels in the batch of matters pertaining to Personal Guarantors in Insolvency Proceedings. The Bench headed by Justice Chandrachud has appointed Ms. Pallavi Pratap, Advocate for Petitioners and Mr. Sanjay Kapur, Advocate for Respondents …
Realisation percentage of recovery by banks through IBC are between SARFEASI and DRT. I feel this may improve significantly if the Govt amend IBC as may be required from time to time like waterfall mechanism under liquidation and timely recruitment of members to NCLT and NCLAT. Read More