Tag: Insolvency and Bankruptcy Code

ED widens scrutiny of possible irregularities in IBC proceedings | Explained

September 17, 2026 admin

Image used for representational purposes. File | Photo Credit: Reuters The story so far: The Enforcement Directorate (ED) has escalated scrutiny of alleged irregularities in proceedings under the Insolvency and Bankruptcy Code (IBC), instructing its zonal offices to examine cases involving disproportionately large haircuts through which promoters may have reacquired assets. At its 36th Quarterly…

Business

‘Persistent and systemic challenges’ undermine IBC’s full potential: Parliamentary committee

December 2, 2025 admin

Image used for representation purpose only. | Photo Credit: Getty Images/iStockphoto The Insolvency and Bankruptcy Code (IBC) has so far played a significant role in enhancing India’s ease of doing business, but despite its successes, there are “persistent and systemic challenges” that undermine its optimal performance, the Parliamentary Standing Committee on Finance has said. In…

Business

NCLT directs to initiate insolvency proceedings against Syska LED Lights

October 9, 2024 admin

The Mumbai bench of NCLT has appointed Debashis Nanda as the interim resolution professional suspending the board of Syska LED Lights, as per the provisions of the Insolvency & Bankruptcy Code (IBC). | Photo Credit: Getty Images/iStockphoto The National Company Law Tribunal (NCLT) has been directed to initiate insolvency proceedings against Syska LED Lights, admitting the…

Business