The Enforcement Directorate (ED) has registered a money laundering case in the matter concerning alleged financial irregularities in Infrastructure Leasing and Financial Services (IL&FS) Ltd. Raids are underway in Mumbai and Gurugram, atleast
Category: IBC-SEBI
Soft on promoters, still | Business Standard Editorials
Jet Airways is selling a majority stake to its lenders for Rs 1, under a complicated arrangement that is on track to be put on
Individual Insolvency Code may soon be a reality – The Economic Times
Failure to repay home loans might drag future defaulters to dedicated bankruptcy courts as New Delhi is seeking to put in place a broad framework
home prices: Homebuyers as financial creditors: Developers’ default risks spike – The Economic Times
Treating home-buyers as financial creditors under the bankruptcy law has increased the default risks for developers with delayed projects, warns a report. Last August, Parliament had passed
Disciplinary Action against IRP / RP–2–Source IBBI website
Order- Mr. Vasudeo Agarwal- 07-01-2019 4.1 Contravention: Mr. Agarwal did not proceed expeditiously even though he knew that the CIRP period was ending on 27th February,
Disciplinary Action against IRP / RP–1–Source IBBI website
Order-dated 28.01.2019- Mr. Sandeep Kumar Kejriwal Contraventions and Findings 4. The DC observes that both the CIRPs are strikingly similar. Both CDs belong to the
NCLAT–Tata Steel V Liberty–04.02.2019
2. The main plea taken by the Appellant is that the Adjudicating Authority cannot provide the numerous opportunities at the belated stage. 5. ‘Tata Steel Limited’
Section 7 of I & B Code–Explained in Supreme Court Judgment in Innoventive Industries Vs ICICI Bank–Para 27 and Para 28–
In “Innoventive Industries Ltd. Vs. ICICI Bank and Ors. – (2018) 1 SCC 407”, the Hon’ble Supreme Court held as under:- “27. The scheme of the
IBC 2016–NCLAT Judgments–Summary
Asset Reconstruction V GPT Steel–15.02.2019 This Appellate Tribunal has observed in a recent judgment that Corporate Insolvency Resolution Process is not a recovery proceeding and the
Reliance Group: R-ADAG reaches in principle understanding with lenders – The Economic Times
The Anil Ambani Group is believed to have reached an in principle understanding with more than 90 per cent of the lenders at the Promoter Group level.
IBC–Method in the madness | Business Standard Column
In the list of about 40 companies sent by the Reserve Bank of India for bankruptcy resolution there is a curious pattern. The auditors of these companies
Insolvency process: IBC to have provisions dealing with individual insolvency, says IBBI chairman – The Financial Express
The Insolvency and Bankruptcy Code (IBC), 2016, will soon have provisions dealing with individual insolvency and bankruptcy, said MS Sahoo, chairman of Insolvency and Bankruptcy
Bankers suggest measures for fast resolution of IBC cases – The Hindu BusinessLine
They call for a mechanism to reduce unwanted litigations, strict adherence to timelines under IBC To ensure the speedy resolution of cases under the Insolvency
Insolvency code amendment on cards to ensure NCLT-approved plans are obeyed | Business Standard News
The government plans to bar the successful bidder in a resolution process from any future bidding if it does not implement a scheme approved by the National Company
NCLT yet to fire fully with over half of admitted cases still unresolved | Business Standard News
It’s two years since the Insolvency and Bankruptcy Code (IBC) was set in place, but we still have some distance to go. Of the 1,484 cases admitted
NCLT Sterling order may cheer lenders – The Economic Times
There’s a ray of hope for lenders who are unable to sell properties of errant borrowers with the Enforcement Directorate (ED) having attached the assets
Bankruptcy Code Amendments: Bankruptcy Code: What’s changed, what it means–Economic Times
Tracking the changes in the bankruptcy code. As expected from a new set of laws for a complex subject, the Insolvency and Bankruptcy Code is evolving. And
Fresh NPA additions at lenders slow down, recoveries on the rise – The Economic Times
A year after the Reserve Bank of India (RBI) issued the circular directing banks to move to a more stringent non-performing asset (NPA) recognition with the Insolvency and Bankruptcy
Relief to Coal India: NCLAT sets aside NCLT’s insolvency order against ECL – The Financial Express
The NCLT’s Kolkata bench on December 19, 2018, admitted an insolvency petition, filed by the Hinduja Group-controlled Gulf Oil Lubricants India (GOLIL), against ECL under
Essar Steel : NCLT reserves order on Ruias’ plea on veto rights over resolution plan – NEWS – The Hindu BusinessLine
The Ahmedabad Bench of the NCLT on Wednesday reserved its order on a plea filed by the Ruias, the promoters of the distressed Essar Steel.
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