Tag: Insolvency and Bankruptcy Board of India
-
Emerging Trends in Insolvency Litigation
Prevention of Money Laundering Act (PMLA) in IBC proceedings The apparent conflict between the Insolvency and Bankruptcy Code (IBC) and PMLA, often manifesting itself during insolvency processes, calls for a careful balance between protecting the rights of creditors and preventing money laundering. Recent judgments suggest that a harmonious interpretation is possible, recognizing the importance of…
-
Latest developments in insolvency and bankruptcy in India
Go First Airlines Go First Airlines files for insolvency: On May 4, 2023, the NCLT Delhi reserves order on a request for an interim moratorium. On May 2, 2023, Nusli Wadia promoter of Go Air approached the Hon’ble National Company Law Tribunal (NCLT) and file petition seeking insolvency. A few years earlier, Jeh Wadia had been ousted because the airline was consistently losing money.…