TiffanyBilly - China Automobile Expert-CNAUTO

Mumbai: The Supreme Court has initiated Falcon Tires insolvency proceedings, agreeing to hear the plea of defaulter Pawan Ruia, who he claimed was deprived of the principles of natural justice as he did not have enough time to respond. Loan Notice. Last April, after ARC’s acquisition of 90% of the shares of Falcon Tires, with Edelweisss Asset Reconstruction Company filed a petition with the National Bankruptcy and Insolvency Code-led lender (NCLT), Bankruptcy and Insolvency Code requirements under the Bankruptcy and Insolvency Code (IBC) Falcon Default Corp. Falcon Tires filed suit. Debt financing has been sought from the corporate court. Debt financing has been sought from the corporate court. /pFalcon Tire ET has not responded to emails. Edelweiss ARC officials declined to comment on the specific case. However, Antony, chief executive of Edelweiss ARC Siby, said: “This series of developments highlights the hurdles that IBC-based lenders will face in resolving cas...

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Supreme Court to hear bankruptcy proceeding of Falcon Tyres