The Reserve Bank of India (RBI) will issue a revised circular on stressed assets resolution in the wake of the nation’s apex court striking down the contentious
Category: IBC-SEBI
Govt throws a spanner in CA Institute’s plans of deferring a key auditing standard by two years – The Hindu BusinessLine
Users of financial statements of listed companies may get more out of auditor reports for 2018-19 onwards. This is because the Corporate Affairs Ministry (MCA)
Lenders having vested interest in debtor shouldn’t be part of creditors’ panel: NCLT – The Hindu BusinessLine
In a judgement of far-reaching implication in the insolvency and resolution process, the National Company Law Tribunal’s (NCLT) Chennai Bench has held that a party
IL&FS crisis: Marquee MNC names trapped in IL&FS bond squeeze – The Economic Times
Many of these companies have multiple exposure, for instance, Otis has several entries with different amounts varying from Rs 55 lakh to Rs 1 to
RBI Feb 12 circular: Why IBA wants ‘one-day default’ rule scrapped – The Financial Express
By Mitali Salian Banks have suggested the ‘one-day default’ rule be done away with recommending instead they be given 30 days post a default to
Essar Steel insolvency case: SC stops ArcelorMittal’s Rs 42,000 crore payment bid – The Financial Express
The appellate tribunal on March 18 had refused to stay the NCLT’s order approving ArcelorMittal’s bid to take over Essar Steel. The Supreme Court on
Our bankruptcy code is world-class – The Hindu BusinessLine
The endeavour of every nation is to continuously improve business regulation to make it easier to do business. The World Bank conducts an annual examination
India’s bankruptcy delays lift bidders’ funding tab: JSW Steel – The Hindu BusinessLine
Delays in the sale of assets under India’s bankruptcy law are becoming a key challenge for bidders who cannot wait indefinitely because of funding constraints,
Anil Ambani: What if you go broke like Vijay Mallya? Personal bankruptcy decoded
Did you know you can file for bankruptcy if your debt exceeds Rs 500? Yes, you heard it right. Under current laws, an insolvency petition
Anti Consumer fine on car makers: Carmakers can now take CCI to NCLT over landmark Rs 2,544-cr anti-consumer fine
It was in August 2014 that the CCI had imposed the combined penalty on 14 carmakers for indulging in unfair practices in the spare parts
Etihad submits EoI for crisis-hit Jet Airways, Naresh Goyal may follow suit | Business Standard News
Abu Dhabi-based Etihad Airways has submitted an expression of interest (EoI) to buy a stake in Jet Airways within weeks of wanting to exit the venture completely. Etihad holds a 24 per cent
The return of Naresh Goyal? – The Hindu BusinessLine
Jet Airways has been put up for sale by its lenders. The extended deadline to submit expressions of interest ends today. The earlier deadline was
IBC: View: How to ringfence the IBC–Economic Times
By Amitabh Kant and Richa Roy Last week, the Supreme Court struck down as ultra vires — acting or beyond one’s legal authority — the February 12,
Supreme Court ruling does not disturb creditors’ rights to insolvency proceedings, says Sahoo – The Economic Times
The Supreme Court‘s judgement on the RBI circular does not disturb the rights of creditors to insolvency proceedings and would bring in behavioural changes, making creditors
Vital suggestions to strengthen IBC–Economic Times
A column in this newspaper by Amitabh Kant, CEO, NITI Aayog, and Richa Roy, a lawyer, rightly underscored the need to strengthen the working of
Power Finance Corporation: Five power producers prepare to oppose insolvency proceedings – The Economic Times
The power producers have argued that their projects suffered from time and cost overruns and lack of adequate power purchase agreements with distribution companies as
RBI: RBI’s still the headmaster of the class of defaulters – The Economic Times
Of course, there are power companies that are beyond revival because of inherent flaws and unviable funding structures. So much has happened, but so little
Videocon Group: Banks, others may lose over Rs 90,000 crore as Videocon sinks–Economic Times
The beleaguered VideoconNSE -1.96 % Group has admitted to stupendous outstandings to various lenders – public and private – amounting to over Rs 90,000 crore, making it
Employee rights under civil, labour laws; when can one file payment recovery case – The Financial Express
By Daizy Chawla, Harsimran Singh Rights of an employee are governed by the nature of employment as provided under varied laws and the contract of
NCLAT may ask ArcelorMittal to deposit Rs 42,000 cr bid amount for acquiring Essar Steel – The Financial Express
The bench also directed the operational creditors and financial creditors of Essar Steel to file a chart next week, detailing their claims approved by resolution
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