Centre suspends fresh IBC proceedings till Dec

New Delhi: In a major relief for stressed companies amid the pandemic woes, the Centre on Thursday announced the suspension of fresh insolvency proceedings under the Insolvency and Bankruptcy Code (IBC) by three more months till December. In a gazette notification, the Ministry of Corporate Affairs (MCA) said that the...

EOW Chennai registers FIR in Rs 28,000 cr Franklin Templeton scam

Chennai: In a major development, the Economic Offences Wing (EOW) of the Chennai Police has registered a first information report (FIR) against the beleaguered Franklin Templeton Asset Management India Pvt Ltd (FTAMIL) and Franklin Templeton Trustee Services Pvt Ltd (FTTSPL) for hatching criminal conspiracy to defraud three lakh investors by...

ED attaches Rana Kapoor’s London flat

In the Yes Bank money laundering case, the Enforcement Directorate has attached a residential flat in London to the co-founder of Yes Bank, Rana Kapoor. The market value of this property is 13.5 million pounds (about 127 crore rupees). The apartment is located at 77 South Audley Street London. Earlier,...