The Centre has promulgated an ordinance amending the Insolvency and Bankruptcy Code to introduce pre-packaged insolvency for MSMEs. Under the change, a firm prepares a restructuring plan in coordination with creditors before formal insolvency proceedings start. The goal is to reduce delays and overall costs by front-loading negotiations and speeding up resolution.
Gensol twins are reportedly considering a move to the NCLT to seek resolution under India’s Insolvency and Bankruptcy Code. Analysts say pursuing IBC options could benefit the company and its broader stakeholder base, including lenders and other creditors, by enabling a structured resolution process. The next decision could determine how claims and revival plans play out.
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Lavasa homebuyers have filed a fresh appeal at NCLAT challenging a resolution plan cleared by creditors. They allege discriminatory treatment, serious flaws in how the plan was approved, and a lack of transparency in the insolvency process. Homebuyers are seeking tribunal intervention to ensure fair treatment and address the alleged injustices.
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