The operational creditors of steel companies face a Shakespearean dilemma. Though they wish to speak out against the problems at hand due to delayed payments
Category: IBC-SEBI
Rough flight ahead for Jet as legal worries loom large over revival plan | Business Standard Column
The clock ticks on the bank-led corporate restructuring exercise at Jet Airways. However, legal uncertainties that involve prospective investors, the employees and the operational creditors could make
IBC takes 300 days, BIFR took 5-8 yrs: IBBI chairman M S Sahoo | Business Standard News
The entire process of debt resolution under Corporate Insolvency Resolution Process (CIRP) takes nearly 300 days compared to 5-8 year time taken under the process prescribed by
Insolvency law’s objective is reorganisation of defaulting firms, not recovery of dues: Sahoo – The Hindu BusinessLine
Asserting that the insolvency law’s objectives are reorganisation and resolution of a defaulting company, IBBI Chairperson MS Sahoo said that if creditors recover their dues
NCLAT seeks dues details from IL&FS – The Economic Times
The National Company Law Appellate Tribunal (NCLAT) has directed IL&FS to provide the details of the dues at 13 of its group companies and those
CEA Subramanian counters Raghuram Rajan on GDP data: Controversy baseless; growth best since liberalisation – The Financial Express
He said that GST and Insolvency and Bankruptcy Code (IBC) were transformational reforms by the current government. Responding to the doubts raised by former RBI Governor Raghuram Rajan,
Banks face higher provisions on resolution delays to big-ticket NCLT cases | Business Standard News
Four big-ticket National Company Law Tribunal (NCLT) cases — Essar Steel, Bhushan Power and Steel, Jaypee Infratech, and Alok Industries — will see their resolution
Debtors need to honour contracts, says chief economic advisor – The Economic Times
If the country has to be disruptor to occupy its place among other developed countries, it has to follow a culture of ensuring debtors honour
‘IBC changed India Inc’s view on default’ – Chief Economic Advisor–The Hindu BusinessLine
CEA Subramanian says firms now want to settle fearing loss of control over biz “Before the Bankruptcy Code, lot of businesses were playing coin toss
RCom against closing insolvency plea, Ericsson wants it withdrawn – The Economic Times
The RCom-Ericsson spat continued in the Supreme Court with the Swedish company insisting it should be allowed to close insolvency proceedings initiated against RCom in
NCLT clears Sharad Sanghi’s revised resolution proposal for Jyoti Structures – The Economic Times
Dedicated bankruptcy court National Company Law Tribunal (NCLT) approved a resolution plan for debt-laden Jyoti StructuresNSE 2.86 % for Rs 3,965 crore with about 45% haircut. A group of
No stay on funds distribution at Essar Steel – The Economic Times
The National Company Law Appellate Tribunal has directed Essar Steel’s resolution professional to call a meeting of the Committee of Creditors and work out the
Usha Ananthasubramanian: Ex-PNB CEO aproaches NCLAT in Nirav Modi fraud case – The Economic Times
Former MD and CEO of Punjab National BankNSE 0.97 % (PNB) Usha Ananthasubramanian has challenged the January 31 order of the National Company Law Appellate Tribunal‘s (NCLAT) Mumbai Bench that made her
Bank of India: NCLT admits Bank of India’s insolvency plea against Shrenuj & Co
Shrenuj & Co, the century-old diamond house that had the late Maharani Gayatri Devi of Jaipur as its brand ambassador during its heydays, has been admitted into
Essar Steel lenders unlikely to get ArcelorMittal payment by March 31 | Business Standard News
The bankers to Essar Steel India Limited will not be able to receive ArcelorMittal’s payment for the company by March 31 despite a meeting of
Insolvency Law–Operation clean-up | Business Standard Editorials
The insolvency and Bankruptcy Code, which gained momentum in 2017-18, is one of the most important regulations in India’s corporate history. The new law sent
the national company law tribunal: How can absconding promoters make one-time-settlement offers, NCLT asks Sterling Biotech lenders – The Economic Times
The National Company Law Tribunal (NCLT) for the second time Tuesday questioned the motive of lenders, led by Andhra BankNSE 1.18 %, to withdraw their bankruptcy application and to choose
NCLT admits revised bid for Jyoti Structures; DBS to move SC – The Economic Times
The appellate tribunal staying the liquidation, also noted that the application was admitted on July 4, 2017 and was uploaded on July 12, and the
Banking News: Will take all steps to protect domestic interests in crossborder insolvency regime: Injeti Srinivas, Corporate Affairs Secretary
India will provide adequate carve-outs to protect domestic interests in the crossborder insolvency regime which is under consideration by the government, a senior government official
IBC is a welcome change, will promoters behave this time? – The Financial Express
The rule ties in with the new and somewhat stricter set of loan exposure norms that banks will need to follow from April 1. Even
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