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The Insolvency and Bankruptcy Board of India has suspended Hitesh Goel, an insolvency professional, for two years due to mishandlings during the insolvency process of Supertech Ltd and Nobility Estates. The decision followed his failure to disclose key details and meet procedural timelines, affecting stakeholders and homebuyers. The Insolvency and Bankruptcy Board of India (IBBI) has revoked Hitesh Goel's registration as an insolvency professional for two years. This decision comes after the IB ...Read More >
New Delhi, Mar 31 (PTI) Insolvency and Bankruptcy Board of India (IBBI) has suspended the registration of an insolvency professional for two years for multiple lapses in handling proceedings of Supertech Ltd and Nobility Estates. In its order passed on March 30, the IBBI's disciplinary committee (DC) found that Hitesh Goel failed to perform his duties provided under the Insolvency and Bankruptcy Code (IBC) and related norms during the corporate insolvency resolution process of the two companies ...Read More >
New Delhi, Aug 21 (PTI) The proposed amendments to the insolvency law will help in saving time and ensure faster resolution of stressed assets, IBBI Chairperson Ravi Mital said on Thursday. On August 12, the government introduced a bill in the Lok Sabha to amend the Insolvency and Bankruptcy Code (IBC), proposing a raft of changes, including provisions to reduce the time taken for admission of insolvency resolution applications. The bill, which has been referred to a select committee of the Lo ...Read More >
Bengaluru city police late on Thursday (June 5, 2025) night arrested a top official of the Royal Challengers Bengaluru (RCB) franchise and three from the event management company DNA Entertainment Pvt. Ltd., who organised the victory celebrations for the team in the city that led to stampede and 11 deaths. Editorial | Trampled over: On the RCB cup celebration and Bengaluru stampede The arrests came hours after Chief Minister Siddaramaiah announced at a press conference the suspension of city p ...Read More >
New Delhi: State-owned Central Bank of India on Thursday said it acquired a 25.18 per cent stake in Future Generali India Life Insurance Company Limited (FGILICL) for a cash consideration of Rs 57 crore as part of the insolvency process. With the acquisition of 65,43,80,439 shares on Wednesday (June 4), the bank has ventured into the insurance sector, Central Bank of India said in a regulatory filing. At present, Central Bank of India has 25.28 per cent stake in FGILICL, which had earned a gros ...Read More >
New Delhi, Feb 5 (PTI) The Insolvency and Bankruptcy Board of India has amended rules to allow distressed homebuyers to take possession of their properties while the resolution process is ongoing. The amendments, notified on February 3, and effective immediately, aim to enhance efficiency in insolvency proceedings, particularly for real estate projects, by introducing measures such as appointing facilitators, involving land authorities in the process, and ensuring better monitoring of resolutio ...Read More >
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