A forensic audit report of IL&FS has found serious lapses in the manner in which huge loans were extended to certain entities even after internal
Category: IBC-SEBI
Central Bank puts Rs 3,300 cr NPA on auction – The Economic Times
Except Bombay Rayon, Alok Industries, Bhushan Steel & Power and Essar Steel are currently under NCLT process. Taking a cue from the SBINSE 1.45 %, the Central
Open offer exemption: No open offer exemption without IBC: Sebi – The Economic Times
The regulator’s move to deny such open offer exemptions will affect companies looking to restructure their debt. Companies and investors looking to buy firms, whose debt restructuring
Bankruptcy: Over Rs 2 lakh crore bad loans settled, says government official – The Economic Times
The recovery rate then was around 25 to 26 per cent. In the last two years, this has changed. Over Rs 2 lakh crore worth
Imperfect ruling on constitutionality of IBC | Business Standard Column
On January 25, 2019, the Supreme Court upheld the constitutionality of the Insolvency and Bankruptcy Code, 2016 (Code henceforth), in its entirety. The scheme of the Code,
IBC brings down NPAs, says top Govt official – The Hindu BusinessLine
There has been a reduction in the addition of fresh NPAs over the last two years due to the implementation of the Insolvency and Bankruptcy
Jet Airways founder Naresh Goyal agrees to step down as chairman: Source – The Economic Times
Naresh Goyal agrees to step down as chairman of Jet Airways Beleaguered Jet AirwaysNSE -0.36 %‘ Chairman Naresh Goyal has agreed to step down as the lenders gear
IL&FS sees management collusion, fraud in IFIN’s bad loans – The Economic Times
The government-appointed board of IL&FS is planning to initiate criminal proceedings against several defaulters of IL&FS Financial Services (IFIN), charging them of colluding with the
NCLT rejects Essar Steel’s operational creditors plea against Arcelor’s bid | Business Standard News
The National Company Law Tribunal (NCLT)-Ahmedabad on Thursday rejected debt-laden Essar Steel India’s (ESIL’s) operational creditors (OCs) plea against ArcelorMittal’s Rs 42,000-crore bid. It is seeking consideration of promoters Essar
‘Govt maintaining good distance from IBC pays rich rich dividends to banking system’ – The Hindu BusinessLine
Finance Minister Arun Jaitley, on Thursday, said the government’s conscious decision to keep distance from the Insolvency and Bankruptcy Code (IBC) process has paid rich
RCom-Ericsson case: Investors oppose Anil Ambani-led firm’s plea to use IT refunds to settle dues at NCLAT – The Financial Express
Financial creditors of the debt ridden Reliance Communications Wednesday opposed its plea to release the Income tax refunds to clear dues of Ericsson before the
No real boost – The Hindu BusinessLine
Giving in to hectic lobbying by real estate developers, the GST Council has make multiple tweaks to Goods and Services Tax for residential property, slashing
Insolvency process: Manoj Gaur offers to clear Jaypee Infra dues of Rs 8,358 crore – The Financial Express
In a last-ditch effort to regain control of the insolvent Jaypee Infratech (JIL), its erstwhile promoter Manoj Gaur has offered to clear dues of financial
Money pours back in: Rs 1.8 lakh crore NPA recovery expected in FY19 as big cases head towards closure – The Financial Express
According to estimates, the IBC has helped address stressed assets worth approximately Rs 3 lakh crore — directly or indirectly — since the new law
Binani Cement case: Cementing the EXIM Bank stand – The Financial Express
By Debasish Mallick & Priti Thomas Recently, the NCLAT had dismissed the appeal of Rajputana Properties Private Ltd, originally declared as the highest bidder (H1),
Insolvency & Bankruptcy code: Govt looking at ways to avoid frivolous bids | Business Standard News
It is being considered whether criminal proceedings should be initiated against those not implementing resolution plans or should they be barred from bidding for other
Lessons from RCom mess: Exit of the weak boosts profits for the survivors | Business Standard Column
In his column in Business Standard on Saturday, T N Ninan showed the gloomy environment of private businessmen facing difficulties. There are major difficulties in the Indian arrangements of
IBC reigns supreme over other civil laws, says Delhi High Court | Business Standard News
The Delhi High Court on Friday upheld the supremacy of Insolvency and Bankruptcy Code (IBC) over other civil laws such as those of contracts and
Bad debts to break: Challenges, achievements of India’s insolvency law | Business Standard News
The January 25 Supreme Court judgment on the constitutional validity of India’s fledgling insolvency law in its “entirety” is a booster dose for the lenders
Govt must address group insolvency, runaway bidders issues: Industry – The Hindu BusinessLine
Corporate India expects the Government to take “adequate measures” to resolve issues around ‘Group Insolvency’, runaway and pseudo bidders so as to further strengthen the
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