Category: IBC-SEBI
Sebi, industry officials seek common ground as differences on UPSI arise
https://www.business-standard.com/markets/news/insider-trading-sebi-compliance-officials-search-for-common-ground-on-upsi-123053000535_1.html Clipped from: https://www.business-standard.com/markets/news/insider-trading-sebi-compliance-officials-search-for-common-ground-on-upsi-123053000535_1.html Industry officials say linking non price-sensitive information with material events will bring compliance burden and confusion Listen to This Article India Inc
🙏हा अग्रलेख IBC 2016 या कायद्याबाबत व या कायद्याच्या अमलबजावणी बाबत आलेल्या अपयशाबद्दल आहे. मुळात बर्‍याच जणांचा या कायद्यामुळे वसुली होईल हा भ्रम आहे. मूळ हेतू तो नाहीच. अडचणीत आलेला व्यवसाय त्यातून बाहेर पडून परत रुळावर यावा हा उद्देश आहे. जर या दिशेने झालेले प्रयत्न अयशस्वी झाले तर liquidation चा मार्ग चोखाळला जावा –असा हा कायदा आहे परंतु जेव्हा liquidation चा पर्याय उपलब्ध होतो [ किंवा करून दिला जातो असे म्हणु हवे तर ] तेंव्हा फार उशीर झालेला असतो. Assets ची किंमत कमी होते [ केली जाते? ] व झालेली वसुली [ केलेली नव्हे –वसुली होणे व करणे या दोन्ही मध्ये फरक आहे] –म्हणुन कायदा वीक आहे असे म्हणणे योग्य नाही. जर योग्य तर्‍हेने हा कायदा राबवण्यात आपण यशस्वी झालो तर श्री अरुण जेटली म्हणाले त्याप्रमाणे कर्जावर पैसे घ्या म्हणुन बँकांच्या पाठीमागे लागतील. अजूनही पुष्कळ लिहिण्यासारखे आहे पण तूर्तास एव्हडेच पुरे.
हा कायदा भारतात 2016 साली अमलात आला पण अमेरिकेत 1980 सालापासून आहे. अतिशय efficiently अमलबजावणी चालू आहे. [2] आपल्याकडे हा कायदा राबवणारी यंत्रणा सक्षम नाही
👍👍👍👍👍👍👍Notice to Creditors before admitting IBC Section 10 Application is Not mandatory
Clipped from: https://taxguru.in/corporate-law/notice-creditors-admitting-ibc-section-10-application-mandatory.html In re Go Airlines (India) Limited (NCLT Delhi) Hon’ble National Company Law Tribunal (NCLT), Principal Bench, New Delhi in the matter of Go
👍👍👍IBC: Home buyers likely to get some relief from insolvency proceedings
Clipped from: https://www.business-standard.com/economy/news/home-buyers-likely-to-get-some-relief-from-insolvency-proceedings-123050800520_1.html The move is intended to reassure home buyers while also providing a tailored debt resolution regime for the real estate sector Listen to
👍👍👍👍👍IBC: Section 9 petition cannot be dismissed merely because some invoices are time barred
Clipped from: https://taxguru.in/corporate-law/ibc-section-9-petition-dismissed-invoices-time-barred.html Next Education India Private Limited Vs K12 Techno Services Private Limited (Supreme Court of India) Feeling aggrieved and dissatisfied with the impugned judgment
👍Go First Insolvency Resolution: Go First files for voluntary insolvency resolution proceedings before NCLT – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/go-first-files-for-voluntary-insolvency-resolution-proceedings/articleshow/99934815.cms Synopsis “Go First deeply regrets the current situation, which has forced it to apply to the NCLT. With Pratt & Whitney failing to
🙏NCLT to deal with IBC cases: Center plans to draft guidelines
Clipped from: https://www.business-standard.com/economy/news/center-plans-to-draft-guidelines-for-nclt-to-deal-with-ibc-cases-123050100888_1.html MCA also planning artificial intelligence system for case management IBC lawyers often rue that the NCLT is a weak link in the IBC
🙏Much needed step by SEBI –not a day too soon –Courtesy BusinessLine 26.4.23
My take –SEBI takes one more step to safeguard investor’s interest–[2] not to worry even if turnover suffers 👍
👍👍👍👍👍Resolution Professional can take Control Of Corporate Debtor’s Rights In Assets Licensed To Third Parties: SC
lipped from: https://taxguru.in/corporate-law/resolution-professional-control-corporate-debtors-rights-assets-licensed-third-parties-sc.html Victory Iron Works Ltd. Vs Jitendra Lohia (Supreme Court of India) The main ground of attack of the appellants to the impugned orders
Govt keen to make IBC more robust, says FM Nirmala Sitharaman | The Financial Express
Clipped from: https://www.financialexpress.com/industry/govt-keen-to-make-ibc-more-robust-says-fm-nirmala-sitharaman/3029992/ Finance minister Nirmala Sitharaman on Saturday said the Centre has no hesitation in amending the Insolvency and Bankruptcy Code (IBC) to make it
👍👍👍Srei insolvency: Section 10A not applicable as defaults continued beyond moratorium period, argues Solicitor General of India – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/srei-insolvency-section-10a-not-applicable-as-defaults-continued-beyond-moratorium-period-argues-solicitor-general-of-india/article66683487.ece Arguing against the very question of maintainability of application filed by erstwhile promoters of Srei group under Section 10A of IBC (Insolvency and Bankruptcy Code),
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