The status quo will remain on selling of tea gardens. Providing some relief to debt-laden McLeod Russel, the Kolkata Bench of the National Company Law
Category: IBC-SEBI
***Somany PF challenges at NCLAT sales of IL&FS Wind Energy assets at Orix Corporation – The Financial Express
According to IL&FS, provident and pension funds have an exposure of Rs 9,134 crore to its papers Somany Provident Fund Institution on Monday challenged the
***Recent CoC decisions raise hopes for the return of errant promoters | Business Standard News
The commercial decision of banks and lenders, which are collectively termed committee of creditors (CoC) under the Insolvency and Bankruptcy Code (IBC), has always been a bone
From default to land acquisition, a weekly selection of key court orders | Business Standard Column
Special laws override Arbitration Act The Supreme Court has ruled that in the case of National Highways Authority of India (NHAI), the central government has the exclusive
***Amendments to the IBC: Correcting judicial errors | Business Standard Column
Often, courts step in to lend direction when new statues lack clarity or are inconsistently interpreted. In other cases, the legislature steps in to remedy
***Passing the scrutiny of courts toughest test for proposed amendments to IBC | Business Standard Column
The preamble of the Insolvency and Bankruptcy Code (IBC) describes the basic functions as: “…to consolidate and amend the laws relating to reorganisation and insolvency resolution of
***Amrapali-like fraud won’t recur: Government – Times of India
Assuring that large-scale financial fraud, such as cheating of homebuyers in the Amrapali case, will not happen in the real estate sector in future, the Centre told the Supreme Court on Thursday that a
Thomas Cook collapse: Bailout fails, tourists stranded – The Hindu BusinessLine
British government said it would work to return all those booked to come back to the UK over the next two weeks free of cost
***Personal insolvency regulation in phases, indemnity to successful bidder under IBC: Sitharaman – Times of India
Extending indemnity to successful bidders of loan defaulting companies, finance minister Nirmala Sitharaman on Monday said the government will not launch any criminal proceedings against those who buy
***Financial services providers likely to be brought under insolvency code ambit – NEWS – The Hindu BusinessLine
MCA in talks with the Reserve Bank to devise separate framework to bring NBFCs under the insolvency process The Centre is exploring the possibility of
***Adani Ports now on course to buy Dighi Port – The Hindu BusinessLine
Lenders’ panel clears APSEZ bid In a U-turn, the Committee of Creditors (CoC) led by Bank of India has backed the resolution plan placed by
Tackling NPAs calls for a shift in strategy – The Hindu BusinessLine
Before considerations of provisioning, problem loans need to be identified by using transparent, meaningful criteria Compared with the present, a larger number of bad loans
***Lenders need to take hair-cut in the NBFC resolution process: RBI Governor – The Hindu BusinessLine
Lenders will need to take a large hair-cut in the resolution of non-banking finance companies (NBFCs) where there are major governance issues, according to Reserve
***Default authentication to get traction as IBBI allows `information utility’ to access MCA-21, CERSAI data – The Hindu BusinessLine
The insolvency regulator’s move could speed up authentication of debtor defaults, admission of cases before NCLT Insolvency regulator IBBI has now taken a crucial step
***NCLAT asks Marg’s promoter to submit revised resolution plan by September 12 – The Hindu BusinessLine
The National Company Law Appellate Tribunal (NCLAT) on Friday directed GRK Reddy, the promoter of Chennai-based infrastructure developer Marg Ltd, to submit a revised resolution
***MSMEs need not use IBC to recover dues – The Hindu BusinessLine–
Taking the route the MSMED Act provides is faster, easier and can be enforced through decree One of the most talked of laws in recent
NPAs may dip a tad to ₹9-lakh cr by FY20-end: Report – The Hindu BusinessLine
Gross bad loans of banks are expected to come down marginally to ₹9.1-lakh crore by the end of the current financial year, according to a
***Poor recoveries under IBC can derail Centre’s ₹70,000-cr recap plan – The Hindu BusinessLine
Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks While the Centre’s decision to frontload capital infusion of Rs 70,000
***Insolvency: Mechanism to monitor resolution processes, performance of IPs in place – The Hindu BusinessLine
Electronic platform will be opened for filings from September 16 Insolvency regulator IBBI has put in place a mechanism to monitor corporate insolvency resolution processes
Govt plans debt waiver for ‘small distressed borrowers’ – The Hindu BusinessLine
Proposal will seek to alleviate situation of most distressed EWS borrowers The government plans to give debt waiver for “small distressed borrowers” under the insolvency
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