Adherence to the IBC timeline, burden on NCLT to resolve the large number of cases, clarity on priority of claims, limited number of information utilities
Month: May 2019
Liquidation process for ABG Shipyard commences – The Hindu BusinessLine
Debt-ridden ABG Shipyard on Monday announced commencement of the liquidation process under the Insolvency and Bankruptcy Code. “NCLT vide order dated April 25, 2019…ordered commencement
Below the line – OPINION – The Hindu BusinessLine
NCLAT Chairman Justice SJ Mukhopadhaya was at his witty best at a recent insolvency law conference in the Capital. He wanted the ‘Committee of Creditors’
‘IBC helped creditors recover 195% of liquidation value’ – The Hindu BusinessLine
The creditors of companies that have been rescued from liquidation as of March 2019 have been able to realise 195 per cent of the ‘liquidation
For a simpler GST | The Indian Express
GST is not being flaunted by the BJP as its major achievement in the ongoing election campaign. It was launched with a special session of Parliament similar
CJI case: All eyes on the proceedings in the SC | columns | Hindustan Times
Their lordships have sworn to uphold Constitutional values of equality and dignity. Their courtrooms have delivered landmark judgments, like Vishaka, which affirmed women’s right to
View: India’s insolvency law as creator of jobs – The Economic Times
By Sapan Gupta The new corporate insolvency regime has saved nearly four lakh jobs in India. Had it not been for the new law being
MSME: A primer for availing MSME business loans: Here’s everything you need to know
By Mehernosh Tata Globally, the Micro, Small and Medium Enterprises (MSMEs) segment plays a crucial role in employment generation, driving innovation, GDP growth, and augmenting overall economic
SFIO arrests Bhushan Steel’s former CFO Nitin Johri on charges of financial fraud – The Economic Times
The country’s top fraud watchdog, SFIO, has arrested Bhushan Steel’s former chief financial officer and director Nittin Johri, according to a senior official. The late evening
Lenders take 57% haircut in 94 cases worth Rs 1.75 lakh crore – The Economic Times
Banks have taken a huge 57 percent haircut in the 94 large accounts worth Rs 1.75 lakh crore which were resolved in FY19, recovering just Rs 75,000 crore
For the first time in history, income tax filings fall in FY 2019 – The Financial Express
Against the revised estimates, direct tax collection in FY19 fell short by `50,000 crore, and in the current financial year, the budget estimates for direct
IBC resulted in recovery rate of 43%, figure is respectable: CRISIL | Business Standard News
The advent of Insolvency and Bankruptcy Code (IBC) has resulted in a recovery rate of 43 per cent, which, according to rating agency CRISIL, is
Former Bhushan Steel CFO Nittin Johri arrested for fraudulent practices | Business Standard News
The Serious Fraud Investigation Office (SFIO) has arrested former chief financial officer of Bhushan Steel Nittin Johri for fraudulent activities, including filing false documents with various banks, according
Residential flats with parking, other facilities will attract lower GST, rules West Bengal AAR – The Hindu BusinessLine
When paying for your dream home, don’t pay the differential Goods & Services Tax (GST) — lower GST for the dwelling unit and higher GST
Slow down in FY19 on demand, investment, exports: FinMin report – The Economic Times
The proximate factors responsible for this slowdown include declining growth of private consumption, tepid increase in fixed investment & muted exports. India’s economy slowed down
Jet Airways bidders show no expressions of interest–Economic Times
Bidders for Jet AirwaysNSE -12.46 % so far appear uninterested in following up on their expressions of interest, dealing a major blow to the early revival of
Deloitte: IL&FS board seeks punitive action against Deloitte, BSR
The government-appointed board of Infrastructure Leasing & Financial Services has proposed punitive action against Deloitte Haskins & Sells (DHS) and BSR & Co, part of the KPMG network, said
PNB ruined Gitanjali Gems to hide its misdeeds: Mehul Choksi – The Economic Times
The fugitive diamantaire said the employees of Gitanjali were harassed and its stocks and servers were confiscated New Delhi-Key accused in the PNB fraud case, Mehul
IL&FS accounts can finally be called NPAs: NCLAT green light to banks – The Financial Express
The NCLAT had in February prohibited banks from recognising any IL&FS group accounts as non-performing assets without first seeking approval from the tribunal. The National
Inflation forecasts not accurate at times of low food inflation: RBI study – The Economic Times
Inflation forecasts by the central bank have gone awry only at time of low food inflation. In most other periods, forecasts have remained almost close to
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