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
Category: IBC-SEBI
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
Section 74 of insolvency code needed, but can deter bidders: Experts | Business Standard News
The jury is still out on Section 74 of the Insolvency and Bankruptcy Code (IBC), which details provisions for punishment of company officials who breach
essar steel: NCLT helps recover Rs 80,000 crore in 2018; kitty may cross Rs 1-lakh crore in 2019 – The Economic Times
High-profile cases lined up for 2019 include Essar Steel and Bhushan Power & Steel. Tasked with a key job of helping recover unpaid corporate loans,
A shiny new start for Indian steel–Economic Times
Resolution of stressed bank assets under the Insolvency and Bankruptcy Code (IBC) has led to solid transformation in steel. Domestic steel majors have bid aggressively
Do we really need dual-class shares? | Business Standard Column
Every once in a while an idea takes hold which is supposed to be the panacea for a specific problem plaguing the local equity markets. Share buy-backs
Lenders reject JSW Energy offer for Monnet Power citing poor terms | Business Standard News
Lenders to Monnet Power have rejected the lone bid from JSW Energy, citing poor terms of the offer. “Monnet Power will go for liquidation as
‘In a resolution plan under IBC, personal guarantors can’t step into creditor’s shoes’ – The Hindu BusinessLine
Thus, the liability of a personal guarantor survives a resolution process under the IBC: NCLAT The National Company Law Appellate Tribunal (NCLAT) has ruled that
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