The Ministry of Corporate Affairs recently expanded the application of the Insolvency and Bankruptcy Code to include non-banking financial service providers. It will help inject new capital into the industry
Category: IBC-SEBI
Common sense wins in Essar Steel bankruptcy case, eases private equity fears– The Print
Two- and-a-half years after the Indian central bank took the highly unusual step of directing banks to put 12 large corporate debtors into bankruptcy, the
Why the Essar Steel case pushed Modi govt to give more teeth to bankruptcy code–The Print
New Delhi: The Narendra Modi government moved quickly this week to approve major changes to the Insolvency and Bankruptcy Code and give the signature reform measure
Supreme Court’s ruling on bankruptcy proceedings gives homebuyers new power–The Print
India’s Supreme Court upheld the ability of homebuyers to drag property developers into bankruptcy proceedings as several real estate firms are going bust in Asia’s third-largest economy.
Karvy fiasco: SAT grants no relief to banks on wrongly pledged securities | Business Standard News
The Securities Appellate Tribunal (SAT) on Wednesday denied any relief to private-sector lenders HDFC Bank, IndusInd Bank and ICICI Bank, which had moved it after
First personal insolvency petition filed in Amaravati – The Economic Times
India has notified the amended IBC guidelines that enable creditors as well as personal guarantors to approach the tribunal seeking to initiate insolvency proceedings against
DHFL: NCLT admits RBI plea seeking bankruptcy resolution for DHFL – The Economic Times
The Mumbai bench of the National Company Law Tribunal on Monday admitted an RBI petition seeking bankruptcy proceedings to resolve the mortgage player Dewan Housing Finance (DHFLNSE -4.81 %).
IBC vs RERA: Should insolvency proceedings be the first option? – The Financial Express
The insolvency regime has seen a majority applications as having been filed by operational creditors—such as vendors, suppliers and employees. In the challenging scenario that
Firms under IBC: Govt to allow resolution professionals to make filings | Business Standard News
The Ministry of Corporate Affairs (MCA) has decided to empower resolution professionals (RPs) to file routine compliances, said a senior government official, in what may bring relief
DHFL: NCLT admits RBI plea seeking bankruptcy resolution for DHFL – The Economic Times
The Mumbai bench of the National Company Law Tribunal on Monday admitted an RBI petition seeking bankruptcy proceedings to resolve the mortgage player Dewan Housing Finance (DHFLNSE -4.82 %).
SC asks Amrapali buyers to pay outstanding amounts by January 31 – The Economic Times
The Supreme Court on Monday directed thousands of Amrapali home buyers to pay outstanding amounts by January 31 either in installments or at one go for speedy completion of
The road ahead: Government must fix the financial sector to reverse economic decline–Times of India
India’s gross domestic product in the July-September quarter grew 4.5%, the slowest pace of quarterly growth since the beginning of 2013. This was the sixth
No blanket action: Audit company may not face ban for a few partners’ fault – The Financial Express
The ban, the committee feels, should be limited to only those auditors who are found to be guilty and the firms may ordinarily be let
Work is on to address cross-border insolvency: Sahoo | Deccan Herald
Insolvency and Bankruptcy Board of India chairman M S Sahoo on Saturday said work is on to amend the Insolvency and Bankruptcy Code 2016 that
Patanjali secures Rs 3,200-cr loan to buy Ruchi Soya | Deccan Herald
Baba Ramdev-led Patanjali Ayurved on Friday said it has already tied up loan worth Rs 3,200 crore from a consortium of lenders led by State
Work is on to amend IBC to address cross-border insolvency: MS Sahoo – The Financial Express
The committee has submitted its report and there will be progressive amendments to the law very soon, he said. Insolvency and Bankruptcy Board of India
SBI: Corporate frauds see a massive surge: SBI – The Economic Times
The number of frauds at State Bank of IndiaNSE -2.13 % (SBI), the country’s biggest mass-lender, has nearly trebled in the first seven months of this fiscal
SC decides to recall its September order on Amtek Auto – The Financial Express
The apex court had in September allowed resolution professional and lenders to invite fresh bids and decide on final resolution plan within two weeks thereafter.
DHFL: RBI files application for insolvency proceedings against DHFL – The Economic Times
The Reserve Bank of India filed insolvency proceeding against beleaguered Dewan Housing Finance Limited (DHFLNSE 4.27 %) with NCLT on Friday. “Debt moratorium on DHFL till insolvency plea has
Three years on, Insolvency and Bankruptcy Code is learning from outcomes, growing stronger | The Indian Express
The recent empirical work on links between corporate bond markets and the bankruptcy system predicts that safe firms will issue bonds but higher risk firms,
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