In a letter to Narendra Modi, the FPCE has demanded the government from yielding to the pressure from real estate developers and amend the Insolvency
RBI supersedes DHFL board; may soon refer mortgage lender for insolvency proceedings – The Financial Express
The board of Dewan Housing Finance (DHFL) has been superseded by the Reserve Bank of India (RBI) on governance-related concerns and payment defaults. “The Reserve Bank has
Ahead of bankruptcy, RBI takes charge of troubled DHFL – The Financial Express
By Shritama Bose & Malini Bhupta The Reserve Bank of India (RBI) said on Wednesday it had superceded the board of DHFL (Dewan Housing Finance Corporation) and
New GST rule to curb ITC misuse hits MSMEs – The Financial Express
The smaller businesses with annual turnover of less than Rs 5 crore are hit by the recent change in Goods and Services Tax (GST) rule,
NCLAT rejects DBS’s claim for bigger share of Ruchi Soya resolution proceeds – The Financial Express
The National Company Law Appellate Tribunal (NCLAT) has turned down a plea of the Singapore-based DBS Bank, seeking a bigger share of proceeds from the
How to help small businesses: Cut heavy costs of regulatory and tax compliance, make credit available — Times of India
Smaller business entities are often associated with the informal sector and widely believed to dodge taxes and bypass tough labour regulations. However, an increasing number of firms
Worried independent directors no longer keen to hold board seats – The Economic Times
The exit of independent directors from India Inc. boards has gained momentum, with the number more than doubling in the first six months of this financial year.
Banks, RBI — You have to check fraud–Economic Times
Fraudsters are smarter than regulators and target companies, often banks. While fake security papers and bogus letters of credit are the mainstay of old-world dodgers,
Fixing crop insurance | Business Standard Editorials
The decision by four private insurance companies to opt out of the government’s flagship crop insurance programme — the Pradhan Mantri Fasal Bima Yojana (PMFBY) — is least surprising.
Breather for telcos: 2-year moratorium on payment of spectrum dues | Business Standard News
The debt-ridden telecom industry, looking for financial relief from the government, has got a two-year moratorium in making payments for past spectrum auctions. The Union Cabinet on
Insolvency and Bankruptcy Code should be the preferred option for resolution of bad loans, not the last resort | The Indian Express
The Supreme Court judgment in the Essar Steel case has restored the primacy of the committee of creditors (CoC), settling the contentious issue of the
Gandhigiri at Videocon: Workers unpaid for 14 months beg on streets to collect gift for promoter Dhoot–Business Today
Workers in Videocon’s largest plant in Aurangabad, Maharashtra roamed the streets during Diwali days to collect alms worth Rs 721 to send to former owner
Realty sees 115 insolvency cases, $1 billion stressed deals–Deccan Chronicle
Chennai: The real estate sector has filed 115 insolvency cases till September and $1 billion has already been transacted under stressed asset deals in 2019. Corporates
Bid goodbye to anti-profiteering provisions under GST | Deccan Herald
During the first 18 months after GST was implemented in India, taxpayers used to wait for the monthly GST Council meetings since there were many
Niti Aayog looking at providing middle class with health cover | India News – Times of India
Highlights Government think tank NITI Aayog has suggested “consolidation” of healthcare services and providers to reduce health expenditure and improve access In a new report
Common sense wins in Essar Steel bankruptcy case, eases private equity fears–The Print
Two- and-a-half years after the Indian central bank took the highly unusual step of directing banks to put 12 large corporate debtors into bankruptcy, the
Jaypee Infra insolvency: Lenders discuss NBCC, Suraksha bids; to meet again in Nov last week – The Economic Times
Lenders of Jaypee InfratechNSE 4.17 %‘s on Monday discussed the bids submitted by NBCCNSE 1.74 % Ltd and Suraksha Realty to acquire the debt-ridden firm in an insolvency process, and decided to
Govt plans to shield IBC cos from PMLA action against promoters – The Economic Times
The government is looking to address concerns over the Enforcement Directorate’s decision to attach properties of Bhushan Power and Steel, raising questions over its resolution under
Essar Steel: SC verdict lays down roles of creditors, adjudicating body – The Economic Times
The Supreme Court judgement on the Essar Steel case has clearly laid down the roles of the committee of creditors (CoC) and the adjudicating authority, and accepted
Lotus home buyers: No transparency, remove insolvency professionals – The Economic Times
In an unusual development, buyers in the Lotus Panache project have sought the immediate removal of the two National Company Law Tribunal (NCLT)-appointed insolvency professionals over their “lack of transparency” in
