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Tag: #CIRP

Real Estate Investors

DHFL under resolution process, declared to not make any payments to lenders and bondholders.

April 8, 2020

Dewan Housing Finance Corporation (DHFL) said on Tuesday it would not make any interest or principal payments to lenders and bondholders as the firm is under resolution process. The Corporate Insolvency Resolution Process (CIRP) was started against the debt-ridden corporation in compliance with the 2016 Insolvency and Bankruptcy Code regulations with effect from December 3, […]

DHFL under resolution process, declared to not make any payments to lenders and bondholders.more
Insolvency

Buyers can seek a refund from a real estate firm that is undergoing insolvency.

February 12, 2020

The National Company Law Appellate Tribunal (NCLAT) ruled that insolvency proceedings initiated by a flat buyer or financial institution would be pursued only with respect to the project in dispute and would not impact any other projects of developers. The whole insolvency procedure started at the behest of either a flat buyer or a bank […]

Buyers can seek a refund from a real estate firm that is undergoing insolvency.more
Bankruptcy Code IBC

IBC amendment bill 2019 seeks to protect last-mile funding.

December 12, 2019

The Union Cabinet approved the insolvency and bankruptcy code amendments on 11 December. Based on an official release the Code amendments aim, at removing bottlenecks, rationalizing the corporate insolvency resolution process (CIRP) and protecting last-mile funding will boost investment in financially distressed sectors.  “Additional thresholds introduced by the authorized representative for the purpose of preventing frivolous […]

IBC amendment bill 2019 seeks to protect last-mile funding.more


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