The Reserve Bank of India (RBI) is weighing a plan to release data that would demonstrate that the number of corporates defaulting on bank loans have dipped
Month: January 2019
Insolvency Law–Expert view: Those who gave personal guarantees may get into trouble: Sandeep Parekh, Finsec Law Advisors – The Economic Times
he SC ruling will prove to be huge for the economy and it will be good for the banking system as it allows them not
Taxpayers Beware! 6 transactions which may invite penalty, prosecution under Income Tax Act – The Financial Express
Some media reports recently indicated that the Income Tax Department is issuing tax notices to thousands of taxpayers for minor defaults. This included prosecution notices
FM versus CBI says a lot about government functioning – The Financial Express
The problem with Jaitley’s statement – that was promptly retweeted by Piyush Goyal who is filling in for Jaitley who is in the US for
Amid delayed insolvency process, Cantor, SC Lowy eye India’s bad loans | Business Standard News
Many global funds have pushed for India to resolve its bankruptcy cases faster, but some investors are finding opportunities in the delays. As Indian lenders
CBI–Investigative overreach | Business Standard Editorials
Last week, the Central Bureau of Investigation (CBI) filed a case against the former managing director and chief executive officer of ICICI Bank, Chanda Kochhar; her husband,
‘Exempt supply’ includes supplies on reverse charge basis to restrict ITC | Business Standard National
Q. We are a society conducting events for our members. For the events, we get sponsorship amounts from our clients. We raise a sponsorship invoice
How litigation shackled bankruptcy reform and forced fire-sale of bad loans | Business Standard News
When India introduced new bankruptcy resolution rules in 2016, government officials and investors said they expected debt-burdened state-owned banks to clear up some of their
Number of cases withdrawn under Sec 12A of IBC sees a spike in Q3 FY19 | Business Standard News
An amendment in the Insolvency and Bankruptcy Code (IBC) last year to insert Section 12A which allowed withdrawal of cases admitted to the National Company
Shutdown surrender – USA–The Hindu
The partial shutdown of the U.S. government was the first major showdown between President Donald Trump and the Democrats after the latter took control of
A resounding nod | –Insolvency Law–Business Standard Editorials
On Friday, a two-judge Bench of the Supreme Court cleared the path for the untrammelled functioning of the Insolvency and Bankruptcy Code (IBC). The IBC was enacted in 2016, replacing a host
The euro turns 20 | Business Standard Column
Twenty years ago this month, the euro was born. For ordinary citizens, little changed until cash euros were introduced in 2002. But in January 1999, the “third
Jet Airways to seek shareholders’ nod to convert debt into equity – The Hindu BusinessLine
In a clear indication that lenders are set to get a larger say in the running of debt-laden Jet Airways, the airline on Monday said
दिवाळखोरी कायदा २०१६ — किती उपयोगी आहे ? [ Insolvency & Bankruptcy Code 2016 ]–अनिल तिकोटेकर
हा कायदा १ डिसेंबर २०१६ पासून अमलात आला आहे. ह्या कायद्याप्रमाणे काही अमुलाग्र बदल घडून आले आहेत. यापूर्वी बँकांचे पैसे वसूल होण्यात अनंत अडचणी येत
Insolvency and Bankruptcy Code: Three years later, India’s bankruptcy reform languishes in courts – The Economic Times
The Insolvency and Bankruptcy Code, introduced in May 2016, allows even small creditors to file insolvency petitions against a company that had defaulted on debt.
GST–Tax officials may examine high usage of ITC to set off GST liability – The Economic Times
Concerned over a decline in GST revenues, tax officials are likely to examine the high usage of input tax credit (ITCNSE 0.11 %) to set off tax liability
Welcome apex court ruling on bankruptcy–Economic Times
The Supreme Court verdict upholding the Insolvency and Bankruptcy Code (IBC) in its present form is welcome. While it is not unnatural for new legislation
SC boost to IBC process will mean faster resolution; Apex court may not exempt power firms from Sec 12 – The Financial Express
Given the differences in opinions between NCLT benches, the law has also clarified that late bids will not be entertained. With the Supreme Court upholding
Tribunalisation of GST justice necessitates tweaks | Business Standard Column
The Union Cabinet last week approved of a proposal to set up a national Bench of the Goods & Services Tax Appellate Tribunal (GSTAT) in the capital,
Reality test needed for RBI credit rules | Business Standard Column
The Reserve Bank of India (RBI) gives exporters nine months from the date of export for realisation of the proceeds. The exception is 15 months for goods exported to a
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