For the first time, the government on December 21, 2018, had invoked the powers under Section 130 of the new Companies Act of 2013 to
Category: IBC-SEBI
IBC, tortoise that will beat the hare–Economic Times
It has been over two years since India adopted the Insolvency and Bankruptcy Code (IBC) to swiftly resolve corporate distress and clean up bad loans
Insolvency and Bankruptcy Code has a long way to go – The Hindu BusinessLine
Despite several flaws in the three-year-old bankruptcy code, the Government remains unperturbed It has been an eventful year for the ever-evolving Insolvency and Bankruptcy Code,
India Can Now Hope To Be In Top 50 Jaitley On Ease Of Doing Biz Ranking – BW Businessworld
Enthused by 23 notches jump in the World Bank Ease of Doing Business, Finance Minister Arun Jaitley exuded confidence that India can now hope to achieve the
Jet Airways in talks with SBI for Rs 1,500 crore loan – The Economic Times
Loss-making carrier Jet AirwaysNSE 2.24 % is in discussions with the State Bank of IndiaNSE 0.91 % for raising Rs 1,500 crore short-term loan to meet its working capital
IL&FS probe: CA Institute to follow own course; next hearing on Jan 12 – The Hindu BusinessLine
After the ₹90,000-crore IL&FS Group blowout came to light, the CA Institute had held the signing partners of the three top audit firms prima facie
Five major challenges that shook India’s economy in 2018–The Print
From GST to RBI to NPAs, both institutions and governance had a turbulent ride. The year 2018 saw significant challenges for the Indian economy. Implementation
Bad loans of PSU banks are declining: Govt officials – The Economic Times
Bad loans of state-run banks are in decline and the lenders have recognised most of their stressed assets, a government official said. The gross non-performing assets
Debt recovery: IBC 3 times better than other routes – The Financial Express
Banks and other financial creditors managed to recover around Rs 4,92,500 crore from 21 accounts for which resolution plans were approved under IBC in FY18.
Examining role of IL&FS auditors long overdue – The Financial Express
IL&FS had 347 entities that were held via four levels of step-down subsidiaries and there were 142 entities at Level 4. The government has done
Tax uncertainty continues on LLP conversions | Business Standard Column
Recently, the Mumbai Bench of the Income Tax Appellate Tribunal (Tribunal) ruled that conversion of a company into an LLP (limited liability partnership) firm would be construed
IBC–New recovery process works–Deccan Chronicle
After trying out several mechanisms to recover bad loans, like Lok Adalats and Debt Recovery Tribunals, the RBI’s Insolvency and Bankruptcy Code recovery process has
IBC scripts huge success in just two years; RBI data reveals NPA recovery rate of whopping 50% – The Financial Express
Under the IBC, as against the claimed amount of Rs 9.9 lakh crore, lenders have been able to recover Rs 4.9 lakh crore, registering the
Non-adherence to timelines under IBC a major concern, says government official – The Economic Times
The Corporate Affairs Secretary said there could be a possibility of disputes when it is about operational creditors but no room for confusion with financial
Bank-led resolution of NPAs set to begin – The Economic Times
About 34 banks have signed the ICA, the bedrock of the in-house, bank-led resolution approach. Indian Banks’ Association (IBA) has set up an oversight committee
Non-adherence to timelines under IBC a major concern, says govt official – The Financial Express
Noting that the law has certainly proven to be a game-changer, Srinivas cited pre-admission settlements and turning non-performing assets (NPAs) into performing assets. Insolvency law
Supreme Court in 2018: A Dickensian mixed bag of milestones and misses | Business Standard News
“It was the best of times, it was the worst of times,” was how Dickens began his tale of two cities. As far as the Supreme
Ask bidders going on appeal to deposit up to 1% of loan amount: Banks to IBBI – The Hindu BusinessLine
Move aimed to deter bidders approaching NCLAT just to derail resolution process K Ram Kumar There have been several delays in the resolution of stressed
CA Institute’s disciplinary probe hearing against IL&FS auditors postponed – The Hindu BusinessLine
There is no information on when the next hearing will take place The much-anticipated hearing in the CA Institute’s inquiry against certain statutory auditors of
IBC: Bidders face jail term if they back out from insolvency process – The Economic Times
The government and the Insolvency & Bankruptcy Board of India are looking at using provisions of the Insolvency & Bankruptcy Code (IBC) against Liberty House
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