Earlier, on February 4 the NCLAT had dismissed the plea of Tata Steel and upheld lenders’ decision to approve resolution plan of JSW Steel for
Category: IBC-SEBI
IBC–Mukesh Ambani’s bid to buy Alok Industries gets NCLT green light; RIL-JM Financial Rs 5050 cr-bid okayed – The Financial Express
Mukesh Ambani’s bid to buy Alok Industries gets NCLT green light; RIL-JM Financial Rs 5050 cr-bid okayed Mukesh Ambani’s plan to buy out Alok Industries
ArcelorMittal wins Essar Steel IBC case as NCLT clears Rs 42,000-crore bid; but has the wait ended? – The Financial Express
ArcelorMittal got a major boost on Friday in its bid to acquire bankrupt Essar Steel, with the National Company Law Tribunal approving the Rs 42,000-crore
IBC–Maximising value of assets! JIL CoC to form core group to work with NBCC, Suraksha – The Financial Express
The Committee of Creditors (CoC) of Jaypee Infratech (JIL) will form a core group of its members, who will hold deliberations with resolution applicants —
IBC–Back door entry for errant promoters? – The Hindu BusinessLine
In a bid to keep out errant and wilful defaulters from buying back stressed assets, Section 29A was inserted into the Code (Insolvency and Bankruptcy
View: Band-aid solution planned for Jet Airways won’t fix anything – The Economic Times
Jet is no Emirates and India no Dubai or Singapore. This stopgap band-aid bankrolling planned for Jet will hardly set the tarmac on fire. How
Bad assets and bankruptcy code: Lenders recover almost half of Rs 1.43-lakh crore defaulting advances – The Economic Times
Lenders have recovered about half the defaulting advances of Rs 1.43 lakh crore stuck in 82 cases that have been resolved so far in the
Insolvency and Bankruptcy Code: Govt says trustees too can approach IBC against corporate debtors – The Financial Express
The government has allowed trustees, estate administrators, persons authorised by a company’s board of directors etc toinitiate corporate insolvency resolution process (CIRP) against a corporate
NCLT notice to Essar Power on L&T arm’s plea at Ahmedabad bench – The Financial Express
The Ahmedabad bench of National Company Law Tribunal (NCLT) on Tuesday issued a notice to Essar Power after L&T Infrastructure Finance Company approached it to
Govt likely to tweak IBC for cross-border cases, Bill after elections | Business Standard News
The government is planning to promulgate an Ordinance amending the Insolvency and Bankruptcy Code (IBC) and adding a chapter on cross-border insolvency. This would give
Essar Steel’s operational creditors appeal to ArcelorMittal for payment | Business Standard News
A forum of operational creditors with over Rs 1 crore in admitted dues from Essar Steel has appealed to ArcelorMittal which is in the process of acquiring the debt-ridden
The IL&FS mess | Business Standard Editorials
The new board of Infrastructure Leasing and Financial Services Ltd (IL&FS) has reportedly sent show-cause notices to as many as 14 former directors of IL&FS Financial Services Ltd (IFIN),
IL&FS board charges former directors of money laundering, criminal intent | Business Standard News
Tasked with cleaning up of mammoth financial mess at embattled IL&FS, its government-appointed board has charged 14 former directors of group firm IL&FS Financial Services Ltd (IFIN)
How bankruptcy code can help fix India’s agrarian crisis – The Economic Times
By Aishwarya Satija Historically, farm loan waivers have been used as a quick-fix solution to agrarian distress in India. Commonly used by political parties before
IL&FS: L&T Fin to move SC against NCLAT’s order on IL&FS debt – The Economic Times
L&T Finance has exposure to six road SPVs and all of them are operational. Out of these six, four are annuity projects, where money comes
Bankruptcy law: Unable to pay up? Top bidder to face penalty under new rule of insolvency regulation–Economic Times
A new amendment to corporate insolvency regulation prescribing stringent punishment for successful resolution applicants who fail to make promised payments is likely to protect the new bankruptcy law from
RBI must challenge NCLAT attempt to cut its powers – The Financial Express
Around 45% of power sector debt —of over `2 lakh crore—has an interest cover of less than one; these are assets that don’t have gas
IBBI suggests ground rules for Resolution Professsionals, Committee of Creditors – The Hindu BusinessLine
The Insolvency and Bankruptcy Board of India (IBBI) has come up with a charter of responsibilities for Insolvency Resolution Professionals (IRPs) and Committee of Creditors
Poor prescription |(IL&FS)– Business Standard Editorials
The National Company Law Appellate Tribunal (NCLAT) has ruled that the debt of Infrastructure Leasing & Financial Services (IL&FS) and its group entities should not be declared non-performing assets
How to clean up the rating mess in India | Business Standard Column
A king loved walking on the streets but didn’t want his feet to get dirty. So, a hefty award was announced for the person who
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