Debt-ridden ABG ShipyardNSE -4.00 % Monday announced commencement of the liquidation process under the Insolvency and Bankruptcy Code. “NCLT vide order dated April 25, 2019…ordered commencement of liquidation
Month: May 2019
Insolvency: JIL’s CoC to vote on revised bid of NBCC – The Financial Express
The two-member NCLAT bench headed by chairman Justice SJ Mukhopadhaya also warned banks that they would get “zero rupees” if the process is stalled. The
Essar Steel case: NCLAT raps Ruias, asks why so late – The Financial Express
The National Company Law Appellate Tribunal (NCLAT) on Tuesday had some harsh words for the erstwhile promoters of Essar Steel — the Ruias — who
Emergency funding: Lenders to Era Infra likely to meet later this week – The Financial Express
Era Infra’s major business divisions include the engineering, procurement and construction (EPC) business along with equipment management Lenders to Era Infra Engineering are expected to
Loan waivers won’t really help small borrowers – The Financial Express
MCA secretary Srinivas Injeti’s point that the IBC does not provide any special dispensation for small borrowers and that the personal involvency chapter may need
NCLT rejects ICICI Bank’s plea for insolvency proceedings against Era Infra amid “duplicacy” of claims – The Financial Express
The National Company Law Tribunal (NCLT) has rejected ICICI Bank’s plea to initiate insolvency proceedings against Era Infrastructure (India) Ltd on the grounds of “duplicacy”
Another bad idea | Business Standard Editorials
The Union corporate affairs secretary has been reported as saying that the Insolvency and Bankruptcy Code (IBC) may be amended under a new government after
IBC process helps recover Rs 70,000-crore bad loans in FY19: CRISIL | Business Standard News
The IBC process has shifted the balance of power from the debtor to the creditor Not only is the recovery rate of the 94 cases
Bombay HC allows crew of arrested TAG Offshore ship to disembark – NEWS – The Hindu BusinessLine
The Bombay High Court has allowed 16 crew members stranded on board a ship owned by bankruptcy-bound TAG Offshore Ltd to disembark without attracting any
Punj Lloyd Ltd. – Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors – The Hindu BusinessLine
Pursuant to Regulation 30 (2) of SEBI (LODR) Regulations, 2015 (LODR) and in accordance with the requirements of Sub Cl 16 (g) of Clause A
As IBC pressure mounts, borrowers hasten to pay up – MONEY & BANKING – The Hindu BusinessLine
With the Insolvency and Bankruptcy Code 2016 (IBC) shifting the balance of power, borrowers are making good the amounts in default to the creditors, and
Tweak in insolvency resolution process to open window wider for original promoters – Today’s Paper – The Hindu BusinessLine
The Insolvency and Bankruptcy Board of India (IBBI) proposes to make the legal regime around withdrawal of resolution applications under the Insolvency and Bankruptcy Code
IBC: RCom lenders to finalise RP from shortlist of 5 – The Hindu BusinessLine
The lenders of Reliance Communications (RCom), an Anil Ambani group company, have shortlisted five Resolution Professionals (RPs) based on technical evaluation for the debt-laden firm’s
IBC hits and misses | The Indian Express
Under the law, the insolvency resolution process is to be completed in 180 days, which can be extended by another 90 days to a maximum
Banking sector gross NPA falls as IBC helps in better recovery | Business News, The Indian Express
Even as the average time taken for resolution under IBC is higher than what is set out in the law, the bankruptcy system is yielding
Lenders’ differences, legal challenges behind delay in resolutions under IBC | Explained News, The Indian Express
IBC offers better recovery rate of 43% to financial creditors. A number of hurdles have recently delayed debt resolution at Essar Steel India Ltd, which
GST: Now, owners may have to pay different GST for identical flats–Economic Times
The taxman has asked builders to choose before May 10 the new goods and services tax (GST) rate for ongoing realty projects. The concessional rate,
Will throw you out; transfer ownership rights of properties “lock, stock and barrel”: SC warns Amrapali – The Economic Times
The Supreme Court Wednesday warned the Amrapali Group that they can be thrown out from their 15 prime residential properties and may transfer “lock, stock and barrel”
SC shocked over “manipulation” of court’s order in Amrapali case, says more heads will roll – The Economic Times
Shocked by “unfortunate” manipulation of its order in the high profile Amrapali case, the Supreme Court Wednesday issued a stern warning to errant Registry staffers and said some more
gdp data row: NDA govt’s growth figures are a sham: P Chidambaram – The Economic Times
It is now in the public domain that the MCA data is full of holes. NSSO has found that 35% of the companies in the
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