The recent allegation by the Anil Ambani-led Reliance group that the sale of pledged shares of group companies by two leading finance companies was illegal
Category: IBC-SEBI
PNB to e-auction 4,000 properties to recover loans – The Economic Times
Recently, the state-owned lender reported a net profit of Rs 247 crore for the third quarter ending December 2018 over the Rs 230 crore profit
NCLAT adjourns Anil Ambani’s RCom’s insolvency plea to 6 March – The Financial Express
The tribunal had directed RCom and its subsidiaries to pay Rs 550 crore to Ericsson India in 120 days, failing which it will direct insolvency
As Essar Steel saga goes on, up to judiciary to ensure that banks get money back soon – The Financial Express
As Essar Steel saga goes on, up to judiciary to ensure that banks get money back soon The Supreme Court (SC) has done well to
Essar Steel insolvency case: SC clears decks for ArcelorMittal’s bid | Business Standard News
The Supreme Court (SC) on Monday dismissed a plea by 28 operational creditors of Essar Steel seeking to be heard by the National Company Law Tribunal (NCLT)
IBC–Essar Steel: Ruias want in at CoC meetings – The Hindu BusinessLine
Raising fresh objections to the approval given by the Committee of Creditors (CoC) to ArcelorMittal’s resolution plan for the stressed Essar Steel India Ltd (ESIL),
Welcome Measures for the bond market–Economic Times
The Reserve Bank of India has announced welcome measures to boost the corporate bond market along with those for currency derivatives and interest rate futures.
SC clears hurdle for Essar case, rejects pleas by operational creditors | Business Standard News
The Supreme Court (SC) on Monday dismissed a plea by 28 operational creditors of Essar Steel seeking to be heard by the National Company Law Tribunal (NCLT)
IBC 2016–Infrastructure, not finance | Business Standard Editorials
The Reserve Bank of India (RBI) has allowed bidders for stressed assets under the Insolvency and Bankruptcy Code (IBC) to raise funds abroad. The RBI relaxed the end-use restrictions for
Should there be different IBC resolution mechanisms for different sectors? | Business Standard Column
Should there be different insolvency resolution mechanisms for different sectors? This question has been asked on several fora, including the Supreme Court, in light of
From insolvency law to tax on motor spare parts, here are key court orders | Business Standard Column
Ironing out creases in insolvency law Complex issues arising from insolvency proceedings have resulted in a series of judgments by the Supreme Court in recent weeks. In
Special MSME package can help 7 cr accounts, Rs 1 L cr loans: Fin secy – The Economic Times
He said 7 lakh MSME units need restructuring. The Reserve Banks restructuring package for small businesses announced last month will help recast Rs 1 lakh
NPA overhang may go in first half of next year: SBI – The Hindu BusinessLine
The State Bank of India expects the NPA overhang in the banking sector to “dissipate in the first half of 2019-20,” said the bank’s Managing
Apex court declines to use powers to reverse liquidation orders – The Hindu BusinessLine
NCLT cannot evaluate CoC’s commercial decision The Supreme Court has declined to use its powers relegated under Article 142 to revoke the liquidation order pronounced
Govt explores pre-packaged bankruptcy plan to fast track insolvency process | Business Standard News
The feasibility of implementing a ‘pre-packaged’ bankruptcy scheme, prevalent in the US, is under consideration, it is learnt. The move is meant to strengthen the
Bankruptcy code: NCLT can’t evaluate CoC decision on resolution plan, says SC – The Financial Express
The appellate tribunal had also reversed the decision of the NCLT, Hyderabad, which had approved its resolution plan related to Hyderabad-based Kamineni Steel & Power
Bhushan Power lenders likely to reject Sanjay Singal’s last-minute offer – The Financial Express
Lenders to Bhushan Power and Steel (BPSL) are likely to reject the last-minute offer made by the debt-ridden firm’s erstwhile owner Sanjay Singal of repaying
Banks being penalized by RBI for lapses in monitoring of end use of funds–Anil Tikotekar
I was happily surprised to know today that RBI has imposed penalty on bank for not monitoring end use of funds. I refer to the
External borrowings for IBC bids welcome–Economic Times
It is noteworthy that RBI has given the go-ahead to raise external commercial borrowings (ECB) to bid for assets under resolution as per the Insolvency
Parsvnath Developers: NCLT closes insolvency proceedings against Parsvnath Landmark–Economic Times
The tribunal has also directed the interim resolution professional appointed for Parsvnath Landmark to not “conduct any proceedings”. The National Company Law Tribunal has closed the insolvency
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