Financial creditor

NCLT recalls insolvency order against Logix Infra, cites ’fraudulent and mala fide’ intentions

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New Delhi, Feb 9 (PTI) In a rare move, NCLT has recalled and set aside its own order directing insolvency proceedings against realty firm Logix Infrastructure in July 2023, saying the plea was initiated with “fraudulent and mala fide intentions” and a collusive petition was filed by the financial creditor. NCLT said “there is a … Read more

NCLT command delete Byju’s IRP to restore Adiora Birla Finance as financial creditors

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NCLT command delete Byju's IRP to restore Adiora Birla Finance as financial creditors

2025-01-29 15:26:00 : The National Corporation’s Law Court (NCLT) ordered the temporary resolution professionals (IRP) of BJYU on Wednesday. The bankruptcy court also instructed India’s bankruptcy and bankruptcy committee (IBBI) to discipline IRP to IRP, and dissolved the creditors committee (COC) composed of IRP. NCLT’s Bangalore substitutes passed the order through Byju’s lenders, Glass Trust … Read more