In the past three years since the IBC was introduced, 21,000 cases have come for resolution, of which 10,000 have been settled according to government
Category: IBC-SEBI
Group insolvency resolution: UK Sinha-led panel recommends phased implementation of framework – The Hindu BusinessLine
The UK Sinha-led Working Group on Group Insolvency has called for a legal framework to facilitate insolvency resolution and liquidation of companies belonging to a
Bankruptcy should write off all equity–Economic Times
Two retail investors of bankrupt textile firm Alok Industries have reportedly petitioned the National Company Law Appellate Tribunal (NCLAT) opposing its new owner Reliance Industries’
Online auction of assets in IBC resolution–Economic Times
The government’s reported plan to institute an online financial bidding process for the resolution of companies admitted in insolvency courts makes eminent sense. However, instead
From criminal cases to commercial suits, here’re the key court orders | Business Standard Column
Commercial court isn’t for every dispute Disputes involving high-value transactions cannot be dressed up as commercial suits and taken to commercial courts for speedy disposal.
Insolvency Law Committee plans to meet on October 15 to discuss new reforms for IBC – The Hindu BusinessLine
The new resolution mechanism for finance companies may apply only to limited set of entities. Deposit taking and systemically important NBFCs may be kept out
Bank fraud: ED attaches assets of over Rs 4,000 crore of Bhushan Steel – The Economic Times
The Enforcement Directorate on Saturday said it has attached assets worth over Rs 4,025 crore of Bhushan Power and Steel Limited (BPSL) in connection with its money laundering probe
Haldiram: Haldiram emerges sole bidder to buy insolvency-bound Kwality for Rs 130 crore – The Economic Times
In 2016, Kwality had raised Rs 300 crore from KKR India Financial Services and got additional commitment of Rs 220 crore. Delhi-based Haldiram group has emerged as
Valuation professionals should not resist change: IBBI chief – The Hindu BusinessLine
No free walk-in for non-registered valuation professionals in proposed institutional framework, says Sahoo Valuation professionals who are not registered with the insolvency regulator, Insolvency and
‘Brutally unfair’ that system can’t protect common man’s savings: Parekh | Business Standard News
Amid the crisis at Punjab & Maharashtra Cooperative Bank (PMC), HDFC chairman Deepak Parekh said it is “brutally unfair” that we have regular loan waivers and corporate
MCA to probe Ludhiana’s SEL Manufacturing over Rs 4,000-cr loan default | Business Standard News
The Ministry of Corporate Affairs (MCA) will probe the Ludhiana-based stressed company SEL Manufacturing for defaulting on bank loans to the tune of over Rs 4,000 crore,
Realtors in bankruptcy court double in past year – The Economic Times
The number of property developers who have been dragged to the bankruptcy court has more than doubled in less than a year as a prolonged slump in
Doesn’t make sense to let go MAT credits: Vedanta’s Pallavi Joshi Bakhru | Business Standard Column
Doesn’t make sense to let go MAT credits: Vedanta’s Pallavi Joshi Bakhru Pallavi Joshi Bakhru, group head taxation, Vedanta Limited, the metals-cum-mining conglomerate, explains why
Dire need to revisit deposit insurance coverage, says SBI report – The Hindu BusinessLine
The current upper limit of ₹1 lakh per depositor has outlived its shelf life, and there is a need to revisit it, says the report. There
NCLT calls for Metalyst Forgings rebid – The Economic Times
The National Company Law Tribunal’s (NCLT) Mumbai bench has ordered a fresh round of bidding for stressed auto forgingsNSE -4.11 % company Metalyst ForgingsNSE 0.00 % after finding truth
Only Lenders Should Initiate Bankruptcy–Economic Times
The Insolvency and Bankruptcy Code (IBC) should be amended to permit only financial creditors (read banks) to initiate bankruptcy proceedings against corporate debtors. Neither an
Resolving stressed financial firms | Business Standard Column
The resolution of stressed financial firms is a key bottleneck in economic policy today. Such resolution is no different from that of non-financial firms when
Insolvency Code: How Deloitte is forging ahead – The Hindu BusinessLine
The global professional services firm aspires to emerge as ‘go to’ firm for corporate insolvency Deloitte, a global professional services firm and part of the
MCA looking to set minimum threshold for homebuyers initiating insolvency – The Economic Times
According to him, innovative ways need to be looked at to ensure that homebuyers do not abuse the insolvency resolution framework. The government is looking
NCLAT sets aside insolvency plea of bauxite exporter Ashapura Minechem | Business Standard News
The National Company Law Appellate Tribunal (NCLAT) has set aside an order of the Mumbai NCLT admitting a plea filed by bentonite and bauxite exporter
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