Category: IBC-SEBI

While lenders are “reasonably hopeful” of a successful bidding process, sources said banks are working on a plan B in case things don’t progress as

Grounding of Jet Airways seems a scam: Anand Sharma – The Economic Times

Senior Congress leader Anand Sharma Sunday said the collapse of Jet AirwaysNSE -31.46 % appears to be a “scam” being executed in the run-up to elections, and demanded intervention

NCLT rejects ArcelorMittal’s plea for EPC re-vote – The Economic Times

The dedicated bankruptcy court has rejected Arcelor-Mittal India’s plea to set aside the resolution plan submitted by Royale Partners Investment Fund (RPIF) for EPC Construction

Changed insolvency norms by April next to speed up process – The Economic Times

Recent developments like the Supreme Court striking down the RBI’s February 12 circular have has also prompted the IBBI to take a look at the

Changes in IBC will allow provision for mediation to cut costs, time | Business Standard News

Mediation, part of an alternative dispute resolution, is well established as an effective means of settling matters in bankruptcy cases in the US The government

Lessons from Jet | Business Standard Editorials

As the last flight of what once was India’s second-largest private airline landed in Mumbai at 12.30 am on Wednesday last week, the pilot’s message

Lenders invoke IBC norms to keep stressed assets in NCLT – The Economic Times

Lenders will cite one day default clause under Insolvency and Bankruptcy Code (IBC) to defend their action against erring promoters taken to insolvency under the

All is well with Modi’s Mudra loans; NPAs within RBI limits, says finance ministry official – The Financial Express

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

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