India’s largest private full-service airline, Jet Airways, is struggling under the burden of its debt. It owes a consortium of banks and other lenders Rs
Category: IBC-SEBI
Bhushan Power and Steel: JSW Steel faces no competition for Bhushan Power and Steel as Tatas not to revise bid – The Economic Times
JSW Steel, which came from behind to surge ahead of the Tatas in the race for Bhushan Power and Steel Ltd (BPSL) with an offer of Rs
Govt re-promulgates ordinance to amend companies law – The Economic Times
The Companies (Amendment) Ordinance, 2019, was issued on Saturday, according to the official gazette. The government has re-promulgated an ordinance to amend the companies law
Bigger role for operational creditors in resolution process worries bankers – The Hindu BusinessLine
Bankers are worried that the corporate insolvency resolution process (CIRP) could turn chaotic and face delays as the Insolvency and Bankruptcy Board of India (IBBI)
NCLAT suggests appointing a former Supreme Court judge for IL&FS asset sales – The Economic Times
The National Company Law Appellate Tribunal (NCLAT) Friday suggested that all further proceedings for transfer of assets of crisis-hit Infrastructure Leasing and Financial Services Ltd
FE Best Banks Awards: Don’t allow litigation to kill IBC’s spirit, Narayanan Vaghul to bankers – The Financial Express
bankers and lenders”. A new precedent needs to be created for bank lending to the corporate sector, more so when development banking institutions have perished.
Lessors may take back planes from cash-strapped Jet Airways: Report | Business Standard News
Crisis talks between India’s cash-strapped Jet Airways Ltd and aircraft lessors have failed to ease a row over late payments, prompting some lessors to explore taking back
IBC–UK-based Boustead bids for debt-ridden RTIL – The Hindu BusinessLine
IRP informs NCLTof thefirm’s interest in plant, machinery UK-based Boustead Plc has emerged as the second company interested in bidding for the debt-ridden RTIL (formerly
Corporate Insolvency Resolution Process (CIRP)-Updates – Corporate Insolvency Resolution Process (CIRP) – The Hindu BusinessLine
This has reference to earlier intimation dated 19th July, 2018 regarding admission of application for initiation of Corporate Insolvency Resolution Process (CIRP) under Section 9
India Leaps 23 Places On World Bank s Ease Of Doing Business Ranking – BW Businessworld
India leaped 23 places to the 77th position on the World Bank’s ‘ease of doing business’ ranking as GST, insolvency framework and tax reforms made
No new loan to Jet Airways till viability report: Lenders – The Economic Times
Lenders to Jet AirwaysNSE -0.47 %, which defaulted on loan obligations last week, have three options to recover their dues, bankers have told TOI even as
Can’t have a one-size-fits-all policy for insolvency, says Prashant Ruia – The Economic Times
Essar Group CEO Prashant Ruia says there must be a distinction in the bankruptcy code to deal with instances where the promoter has done something wrong
Not necessary to start insolvency against principal borrower first: NCLAT | Business Standard News
A financial creditor can seek to first initiate insolvency proceedings against a corporate guarantor of a company, instead of the company itself, in case the guarantee fails, the National Company Law Appellate
Bankruptcy No Tool of Operational Creditors–Economic Times
The Supreme Court’s reported suggestion to give operational creditors a role in insolvency resolution is flawed. Only financial creditors (mainly banks) are now represented on
Lenders need to factor in parameters beyond credit bureau support: Transunion-Cibil – The Economic Times
Lenders need to look beyond credit bureau in assessing risks of MSME lending and detecting early warning signal, as borrowing from multiple borrowers is getting increasingly risky,
MSME: Stacked loans and those sanctioned by multiple lenders prone to higher NPA risks: Report – The Economic Times
Stacked loans by borrowers have a higher potential of turning into Non-Performing Asset (NPAs), reveals the recently released TransUnion CIBIL- SIDBI MSME Pulse Report. The latest report
HDFC approaches NCLAT to recover dues from RHC Holding; challenges NCLT order – The Economic Times
To recover the remaining amount, HDFC filed an insolvency plea against RHC Holding before NCLT. HDFCNSE -0.71 % has challenged an NCLT ruling that dismissed the
Bank of India sells exposures to three large accounts – The Financial Express
Bank of India (BoI) sold its exposures to three large accounts — Alok Industries, Asian Colour Coated Ispat and ISMT — during the quarter ended
A Leg-up for MSMEs: Interests of operational creditors to be secured under insolvency code – The Financial Express
Currently, only financial creditors are part of the CoC that decides on a resolution plan and selects the winning bidder. Operational creditors (OCs), mostly MSMEs,
RBI asks IL&FS lenders to classify loans to firm as non-performing: Report | Business Standard News
India’s central bank has asked lenders of Infrastructure Leasing and Financial Services Ltd (IL&FS) to classify loans extended to the bankrupt shadow banking firm as
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