The biggest success story under the Insolvency and Bankruptcy Code (IBC) so far, the resolution of a dying Bhushan Steel and the process of takeover by Tata Steel for Rs 35,571
Category: IBC-SEBI
Dangerous to let viable cos shut down, IBC gives another chance: IBBI chief | Business Standard News
Committees of Creditors (CoCs) should provide all relevant information and share their vision for companies under the insolvency process, a senior official said Saturday as he asserted that it
All you wanted to know about haircuts – The Hindu BusinessLine
Of late, it is not just magazines offering lifestyle and beauty tips that have been featuring discussions on haircuts. The pink papers have been devoting
IBC: RCom lenders to finalise RP from shortlist of 5 – The Hindu BusinessLine
The lenders of Reliance Communications (RCom), an Anil Ambani group company, have shortlisted five Resolution Professionals (RPs) based on technical evaluation for the debt-laden firm’s
Adherence to IBC timelines still a challenge, says Crisil – NEWS – The Hindu BusinessLine
Adherence to the IBC timeline, burden on NCLT to resolve the large number of cases, clarity on priority of claims, limited number of information utilities
Liquidation process for ABG Shipyard commences – The Hindu BusinessLine
Debt-ridden ABG Shipyard on Monday announced commencement of the liquidation process under the Insolvency and Bankruptcy Code. “NCLT vide order dated April 25, 2019…ordered commencement
Below the line – OPINION – The Hindu BusinessLine
NCLAT Chairman Justice SJ Mukhopadhaya was at his witty best at a recent insolvency law conference in the Capital. He wanted the ‘Committee of Creditors’
‘IBC helped creditors recover 195% of liquidation value’ – The Hindu BusinessLine
The creditors of companies that have been rescued from liquidation as of March 2019 have been able to realise 195 per cent of the ‘liquidation
View: India’s insolvency law as creator of jobs – The Economic Times
By Sapan Gupta The new corporate insolvency regime has saved nearly four lakh jobs in India. Had it not been for the new law being
SFIO arrests Bhushan Steel’s former CFO Nitin Johri on charges of financial fraud – The Economic Times
The country’s top fraud watchdog, SFIO, has arrested Bhushan Steel’s former chief financial officer and director Nittin Johri, according to a senior official. The late evening
Lenders take 57% haircut in 94 cases worth Rs 1.75 lakh crore – The Economic Times
Banks have taken a huge 57 percent haircut in the 94 large accounts worth Rs 1.75 lakh crore which were resolved in FY19, recovering just Rs 75,000 crore
IBC resulted in recovery rate of 43%, figure is respectable: CRISIL | Business Standard News
The advent of Insolvency and Bankruptcy Code (IBC) has resulted in a recovery rate of 43 per cent, which, according to rating agency CRISIL, is
Former Bhushan Steel CFO Nittin Johri arrested for fraudulent practices | Business Standard News
The Serious Fraud Investigation Office (SFIO) has arrested former chief financial officer of Bhushan Steel Nittin Johri for fraudulent activities, including filing false documents with various banks, according
Jet Airways bidders show no expressions of interest–Economic Times
Bidders for Jet AirwaysNSE -12.46 % so far appear uninterested in following up on their expressions of interest, dealing a major blow to the early revival of
Deloitte: IL&FS board seeks punitive action against Deloitte, BSR
The government-appointed board of Infrastructure Leasing & Financial Services has proposed punitive action against Deloitte Haskins & Sells (DHS) and BSR & Co, part of the KPMG network, said
PNB ruined Gitanjali Gems to hide its misdeeds: Mehul Choksi – The Economic Times
The fugitive diamantaire said the employees of Gitanjali were harassed and its stocks and servers were confiscated New Delhi-Key accused in the PNB fraud case, Mehul
IL&FS accounts can finally be called NPAs: NCLAT green light to banks – The Financial Express
The NCLAT had in February prohibited banks from recognising any IL&FS group accounts as non-performing assets without first seeking approval from the tribunal. The National
Huge gap in 12 NPA cases’ dues with liquidation value: IBBI – The Economic Times
The resolution of 12 large accounts were initiated by banks as directed by the Reserve Bank of India (RBI). The 12 large non-performing assets (NPAs
NBCC: Jaypee Infra insolvency: Homebuyers want NBCC bid to be reconsidered; say no faith in private cos – The Economic Times
In 2017, NCLT admitted the application by an IDBI Bank-led consortium seeking resolution of Jaypee Infratech. Distressed homebuyers of debt-ridden Jaypee Infratech Thursday demanded that
Amrapali’s lawyers given flats & penthouses: Forensic auditors to SC – The Economic Times
The hearing in the matter remained inconclusive and would continue on May 8. In yet another startling revelation, the embattled Amrapali Group gave away flats and penthouses
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