The non-performing assets (NPAs) under Modi government’s flagship scheme Pradhan Mantri Mudra Yojana (PMMY) for promoting small businesses are within the Reserve Bank of India’s permissible
Category: IBC-SEBI
After suspension of operations, lenders explore ways to lease Jet Airways’ aircraft – The Financial Express
Lenders of the now-grounded Jet Airways are looking at raising funds through leasing of the aircraft owned by the carrier, which include 10 Boeing 777
RP moves NCLT for extension of Asian Colour Coated Ispat deadline | Business Standard News
Sole bidder JSW Steel’s Rs 1,200 crore offer for downstream company, Asian Colour Coated Ispat Limited, may be under a cloud, as the resolution professional and the
Bankers hope for less pain as RBI readies new stressed-asset norms – The Hindu BusinessLine
Bankers are hoping the Reserve Bank of India (RBI) will be somewhat liberal when it brings out a fresh circular on the resolution of stressed
Why leeway under IBC eludes many MSMEs – The Hindu BusinessLine
In a bid to keep out errant promoters and wilful defaulters, Section 29A was introduced in the Insolvency and Bankruptcy Code in 2017. But given
IBBI suspends erring insolvency professional for two years – The Hindu BusinessLine
Insolvency regulator IBBI has suspended for two years the registration of Sanjay Kumar Ruia, an insolvency professional. This follows the IBBI’s Disciplinary Committee concluding that
Prepare to turn the page on Jet Airways–Economic Times
Shed a tear for Jet Airways, but there is no case for a torrent of sympathy for the airline grounded by protracted mismanagement. The only
jet airways: Jet suitors ask lenders to settle for 80% haircut – The Economic Times
Jet Airways’ temporary shutdown has significantly aggravated problems for the airline with potential investors asking lenders to take an upto-80% haircut on their Rs 8,500-crore
Jet Airways crisis: Why did banks delay work on a solution for so long? – The Financial Express
Jet Airways crisis: Why did banks delay work on a solution for so long? At the risk of sounding harsh, it must be said that
Jet Airways’ lenders need to clarify why they pulled the plug after taking control of the airline – The Hindu BusinessLine
Even three weeks back, it might have been difficult to anticipate the spectacular unravelling of India’s second-biggest airline, Jet Airways. After all, lender-banks had finally
LLP: Limited Liability Partnership framework revamp in the works–Economic Times
India is looking at a comprehensive review of the decade-old Limited Liability Partnership (LLP) framework including steep penalties for nonfiling of returns. The ministry of corporate
With just 5 planes flying, Jet Airways struggles to stay in sky; seeks Rs 400 cr emergency funds – The Economic Times
Government officials said lenders are discussing ways to revive the crisis-hit carrier and fresh funds are likely to be infused shortly. Mumbai/ New Delhi: Crisis
Banks must reflect IL&FS NPAs, RBI tells NCLAT – The Economic Times
The RBI has moved the NCLAT seeking modification of its order that restrained banks from declaring accounts of IL&FS and its group companies as NPAs.
What to Do With a Problem Like Jet?–Economic Times
With more than Rs 10,000 crore of their lending at risk, lenders of Jet Airways have reportedly failed to reach a consensus over providing a
New Sebi strictures on subsidiaries make accountants even more accountable | Business Standard News
The Securities and Exchange Board of India’s (Sebi’s) new rule pertaining to reviewing the account of unlisted subsidiaries of listed entity could go a long
IL&FS financial services: IL&FS: Auditor regulator NFRA probing role of EY, KPMG and Deloitte
The newly formed regulator for auditors is probing the role of three of the big four auditors in the alleged financial irregularity in Infrastructure Leasing
Aye Finance: Aye Finance launches its not for profit company for advancement of micro enterprises–Economic Times
After successfully enabling the financial inclusion of over 1,00,000 micro enterprises, Aye Finance is launching its not for profit Company FAME (Foundation for Advancement of Micro Enterprises), under which
banks: Banks’ recoveries from IBC cases falling – The Economic Times
Banks’ recoveries from bankruptcy cases are on the decline as demand for sick companies under the Insolvency and Bankruptcy Code has waned. However, fears of losing their companies have
Kotak Mahindra Bank moves NCLT against BILT unit – The Economic Times
Kotak Mahindra BankNSE 0.91 % has approached the dedicated bankruptcy court against Ballarpur IndustriesNSE 1.89 % Ltd subsidiary – BILT Graphic Paper Products – for default of Rs 218 crore.
IBC: IBBI working to provide accountable and competent valuers: MS Sahoo – The Economic Times
Bankruptcy Regulator chairperson MS Sahoo said that the Insolvency and Bankruptcy Board of India (IBBI) is working to provide an accountable and competent valuation professionals. The ministry of
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