The National Company Law Appellate Tribunal (NCLAT) on Thursday said it will provide a formula for proceeds distribution among the creditors of debt-ridden IL&FS group firms. A NCLAT-bench headed
Category: IBC-SEBI
SBI Chairman | Yes Bank: State Bank chairman says YES Bank ‘will not be allowed to fail’–Economic Times
By Jeanette Rodrigues and Haslinda Amin The head of India’s biggest lender said he’s certain “some solutions will emerge” to steady Yes BankNSE 6.50 %, which
Corporate bond repo should become real–Economic Times
The marked dichotomy in the regulatory regimes for government securities and corporate bonds seems to have stultified an active market for the latter. RBI’s July
NCLAT defers hearing on JSW Steel’s Bhushan Power buyout till Jan 31 – The Economic Times
On October 10, the ED had attached assets worth over Rs 4,025 crore of debt-ridden BPSL in connection with its money laundering probe linked to
Bankruptcy board set to tackle group insolvency – The Economic Times
India’s bankruptcy regulator is seeking to amend rules to make the IBC suitable for handling group insolvency. MUMBAI: India’s bankruptcy regulator is seeking to amend
JSW Steel can’t ring-fence BPSL assets from attachment, ED tells NCLAT – The Financial Express
SW Steel’s resolution plan was approved by the National Company Law Tribunal on September 5, 2019; while Section 32A was notified on December 28, 2019.
Banking consortium declares Rs 14,000-cr ABG Shipyard loan ‘fraud’ account | Business Standard News
The ICICI Bank-led banking consortium to ABG Shipyard has declared its Rs 14,000-crore exposure to the company as a ‘fraud’ account. State Bank of India (SBI), ICICI
Essel Finance: Adani Capital acquires Essel Finance’s MSME loan business – The Economic Times
MUMBAI: Adani Capital Pvt. Ltd, the NBFC arm of the Adani Group, focused on lending to small & micro entrepreneurs, has acquired Essel Finance’s MSME loan business. The business has a secured loan book
Governing unlisted firms | Business Standard Editorials
The government is reportedly working on a Takeover Code for unlisted companies. Unlike listed ones, transfer of shares in unlisted firms in India now happen on the basis of
The Bankruptcy Code isn’t broken, but it still needs fixing – The Economic Times
By Arvind Panagariya & Rajeev Mantri Two features of the regulatory regime have been central to the current malaise in India’s financial sector. First, until 2015, contrary to
Budget 2020: Govt needs to strengthen ARCs; provide stimulus to the voiceless sector–Business Today
ARCs need a licence to operate and are regulated by the Reserve Bank of India Asset Reconstruction Companies (ARCs) have been institutionalised through central legislation,
Axis Bank files insolvency plea against RPower arm – The Economic Times
NEW DELHI: Reliance Power on Tuesday said one of its lenders Axis BankNSE -1.32 % has initiated insolvency process against its subsidiary Vidarbha Industries Power Ltd for
CBI arrests insolvency resolution professional appointed by NCLT – The Economic Times
NEW DELHI: CBI has arrested an insolvency resolution professional (IRP) appointed by the NCLT and another person for allegedly receiving a bribe of Rs 3.5 lakh from a consultant by threatening
Not a substitute for a bond market–Economic Times
It is welcome that National Investment and Infrastructure Fund (NIIF) is set to launch a non-bank lending arm, Aseem Infrastructure Finance (AIFL). The move would
Uco Bank to on board fintech firms for borrowers’ input – The Economic Times
KOLKATA: State-owned Uco BankNSE -0.62 %, which has long been saddled with high bad loans, is planning to on-board new-age fintech firms for improving underwriting standards and credit
Lenders put cash flows of about 500 stressed companies’ under lens – The Economic Times
Indian banks have fast-tracked the process of roping in monitoring agencies to track last mile usage of bank loans to plug siphoning of bank funds.
New payments formula for creditors in the works – The Economic Times
NEW DELHI: The government is considering a new formula for payments to creditors of distressed companies resolved through the insolvency and bankruptcy law, which would give a better deal to unsecured
Bad loans swell at India shadow bank Altico | Deccan Herald
Bad loans probably ballooned last quarter at Altico Capital India Ltd., according to people familiar with the matter, a lender that’s seen as a barometer
From Indian Bank’s negligence to patent case, here are the key court orders | Business Standard News
In motor accident claims, even employed sons and married daughters can apply for compensation for the death of their working mother, the Supreme Court ruled in its
Unitech promoters diverted money of home-buyers and banks to off-shore tax havens: Audit report – The Economic Times
NEW DELHI: Forensic audit of Unitech Ltd, which was done on the orders of the Supreme Court, revealed massive diversion of funds by the company and
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