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Punj Lloyd Limited is an Indian Engineering, procurement and construction (EPC) company providing services for energy, infrastructure and defense sectors. The company's operations are spread across the Middle East and Africa, [ 2 ] [ 3 ] Asia Pacific, South Asia and Europe.
Provisional liquidation is a process which exists as part of the corporate insolvency laws of a number of common law jurisdictions whereby after the lodging of a petition for the winding-up of a company by the court, but before the court hears and determines the petition, the court may appoint a liquidator on a "provisional" basis. [1]
It was established on 1 October 2016 and given statutory powers through the Insolvency and Bankruptcy Code, which was passed by Lok Sabha on 5 May 2016. It covers Individuals, Companies , Limited Liability Partnerships and Partnership firms .
Bankruptcy and Insolvency Adjudicator: The Code proposes two separate tribunals to oversee the process of insolvency resolution, for individuals and companies: (i) the National Company Law Tribunal for Companies and Limited Liability Partnership firms; and (ii) the Debt Recovery Tribunal for individuals and partnerships.
Download as PDF; Printable version; In other projects ... Atul Punj is an Indian businessman who is also chairman and managing director [1] [2] of Punj Lloyd. [3 ...
Cross-border insolvency (sometimes called international insolvency) regulates the treatment of financially distressed debtors where such debtors have assets or creditors in more than one country. [1] Typically, cross-border insolvency is more concerned with the insolvency of companies that operate in more than one country rather than bankruptcy ...
Insolvency proceedings above ₪150,000 individual debtors file the documents will be conducted before the official receiver (the Insolvency Commissioner) and, if a creditor want to file against a debtor, he needs to open process, before the magistrate's court that hears in the district.
The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Extension of the Relevant Period) (No. 2) Regulations 2020 (SI 2020/1483) was introduced to parliament on 9 December 2020 and further extended the periods above in relation to winding up petitions and the use of statutory demands to 31 March 2021.