by Andy Mukherjee Ask any small Indian firm how long it takes to get paid by larger companies, what kind of a runaround they’re given,
Category: IBC-SEBI
ArcelorMittal to pay Rs 42,000 crore for Essar Steel takeover: Company tells NCLAT – The Financial Express
Global steel major ArcelorMittal Monday told the National Company Law Appellate Tribunal (NCLAT) that it would pay Rs 42,000 crore, including a minimum of guarantee
RBI to hold ‘structured meetings’ with bank auditors to deal with divergences – The Hindu BusinessLine
To deal with the issue of banks diverging from the prescribed asset classification norm and consequent under-provisioning, the Reserve Bank of India (RBI) has kickstarted
MCA sees Rs 2.8 lakh cr recovery from IBC-led resolution process – The Economic Times
Section 12 (A) of IBC allows for a withdrawal of an insolvency application if 90% of the creditors’ committee (CoC) by voting share approving it.
Handing over stuck realty projects to someone else is not a solution: SC | Business Standard Column
If the Supreme Court ordered the government to take over delayed real estate projects or handed them over to a reputed builder, it might sound
Govt mulls giving more power to RBI to deal with stress assets under IBC
The government is considering various options to adequately empower the RBI to deal with banks’ stressed assets under the Insolvency and Bankruptcy Code following the
Right2Vote: Government of India Certified e-Voting Platform for Insolvency Cases
Insolvency and Bankruptcy Code (IBC) 2016, requires the RP (Resolution professional / Interim Resolution Professional / Insolvency Resolution Professional) to provide e-Voting (Electronic Voting /
Kwality insolvency: Lenders to vote on deadline extension for submitting bids for resolution – The Economic Times
Sources said that a committee of creditors (CoC) met on Monday to discuss the issue of extension of CIRP by 90 days and also to
NCLT dismisses insolvency plea against Era Infrastructure – The Economic Times
The bench noted that the private lender has already raised similar claims against parent company Era Infra Engineering, which is currently undergoing resolution process. The
RBI: Government open to giving more powers to RBI in insolvency cases–Economic Times
The government is open to providing more powers to the Reserve Bank of India (RBI) to direct lenders to take action on stressed assets, a
Time for Insolvency of airlines : Jet Airways a lesson! – The Economic Times
By Nipun Singhvi, Vishal J Dave Jet AirwaysNSE -1.50 % shut down its operations temporarily on 17th April of 2019. The shutting down of the company
Injeti Srinivas: IBC timeline adherence soon: Injeti Srinivas, Corporate Affairs Secretary
As of now there is no model available anywhere in the world for group insolvency which we can adopt. In the next three-four months, resolution
IBC: A liberal competition law in the works to facilitate M&As–Economic Times
India is looking to introduce a more liberal competition law to facilitate mergers and acquisitions and a revamp of the limited liability partnership (LLP) framework, a senior government official
Farmers Loan Waiver: Universal debt relief scheme on cards for small borrowers
India has begun work on a universal debt relief scheme for small borrowers aimed at micro enterprises, small farmers and artisans, which should be ready for implementation
ArcelorMittal resolution plan violative of IB Code: Prashant Ruia to NCLAT – The Economic Times
Prashant Ruia, the promotor of debt-ridden Essar SteelNSE 0.00 %, Wednesday submitted before the National Company Law Appellate Tribunal that the resolution plan moved by ArcelorMittal is in
ABG Shipyard: ABG Shipyard initiates liquidation process under IBC – The Economic Times
Debt-ridden ABG ShipyardNSE -4.00 % Monday announced commencement of the liquidation process under the Insolvency and Bankruptcy Code. “NCLT vide order dated April 25, 2019…ordered commencement of liquidation
Insolvency: JIL’s CoC to vote on revised bid of NBCC – The Financial Express
The two-member NCLAT bench headed by chairman Justice SJ Mukhopadhaya also warned banks that they would get “zero rupees” if the process is stalled. The
Essar Steel case: NCLAT raps Ruias, asks why so late – The Financial Express
The National Company Law Appellate Tribunal (NCLAT) on Tuesday had some harsh words for the erstwhile promoters of Essar Steel — the Ruias — who
Emergency funding: Lenders to Era Infra likely to meet later this week – The Financial Express
Era Infra’s major business divisions include the engineering, procurement and construction (EPC) business along with equipment management Lenders to Era Infra Engineering are expected to
Loan waivers won’t really help small borrowers – The Financial Express
MCA secretary Srinivas Injeti’s point that the IBC does not provide any special dispensation for small borrowers and that the personal involvency chapter may need
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