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
Category: IBC-SEBI
***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
NCLAT orders liquidation of Amtek Auto – The Hindu BusinessLine
The National Company Law Appellate Tribunal (NCLAT) on Friday ordered liquidation of debt-ridden Amtek Auto as it declined lenders’ request for extension of insolvency resolution
Pro consumer: The SC’s IBC ruling gives homebuyers greater say, but may prolong realtors’ bankruptcy proceedings – The Hindu BusinessLine
Disagreements between homebuyers and other creditors at the negotiating table due to conflicting priorities may lead to a stalemate Homebuyers in over one lakh stalled
A tale of three developers — will the law catch up? – The Hindu BusinessLine
The travails faced by nearly 1 lakh home-buyers in the National Capital Region after signing up for housing projects with three leading developers — Unitech,
No place to call home – The Hindu BusinessLine
Home-buyers have lost their life savings to bogus projects. Can RERA make a difference? BusinessLine reports 1.74 lakh homes in 220 projects fully stalled in
NCLAT gives Marg’s promoter two weeks to clear dues, exit IBC – STATES – The Hindu BusinessLine
The National Company Law Appellate Tribunal (NCLAT) has allowed GRK Reddy, the promoter of Marg Ltd, a Chennai-based real estate and infrastructure company, to submit
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