The government has come down heavily on Infrastructure Leasing & Financial Services’ (IL&FS’) former management, led by Ravi Parthasarathy, who retired in July 2018, vice-chairman
Category: IBC-SEBI
Fraud cases under IBC cross Rs 40,000 crore – The Economic Times
The numbers showed that frauds, which include siphoning of funds, transactions with related parties and fictitious persons, were widespread in cases that have been referred
Experts hope 50% recovery under bankruptcy code – The Economic Times
The most important parameter on which the recovery rate of debt to the financial creditors depends is the value of the assets of the defaulter
Insolvency and Bankruptcy Code: Has IBC been effective in safeguarding the rights of buyers? – The Financial Express
It is very unlikely that the home buyers will get any significant recovery from the sale of the uncompleted projects either. The interest of home
How the threat of IBC has made debtors pay up Rs 1 lakh crore! MS Sahoo, chairman, IBBI explains – The Financial Express-R
As the Insolvency and Bankruptcy Board of India (IBBI) turns two on Monday, its chairman MS Sahoo dwells upon the efficacy of the new insolvency
Lenders drag realty firm Indu Projects to NCLT – NEWS – The Hindu BusinessLine
Lenders of Indu Projects, a Hyderabad-based infrastructure and real estate company, have dragged it to the National Company Law Tribunal’s Hyderabad bench seeking initiation of
NBFCs–IL&FS mess: A three-point surgical strike | Business Standard Column
A few days ago the Modi government celebrated the second anniversary of its surgical strike against Pakistan. One wishes there were surgical strikes on other equally important
NBFCs–Lessons from IL&FS saga | Business Standard Column
The Infrastructure Leasing & Financial Services fiasco holds many lessons for investors, and policymakers as well. The non-banking financial company (NBFC) has always been treated
Insolvency and Bankruptcy Code enmeshed in legal action | Business Standard Column
A dawn of a new era. That is how the Insolvency and Bankruptcy Code recently enacted and worked up was described in news media and even by
Numetal says will match Arcelor bid if latter held eligible – The Economic Times
Numetal told the Supreme Court on Thursday that it would match any offer made by ArcelorMittal should it be held eligible to bid for ailing Essar Steel in
Essar Steel IBC case: SC reserves verdict; timeline of twists and turns in race between ArcelorMittal, Numetal – The Financial Express
One of the top 12 bankrupt companies identified for immediate resolution was Essar Steel. One of the top 12 bankrupt companies identified for immediate resolution
Modi government plans more NLCT benches in the next 2-3 months – All you need to know – The Financial Express
Currently, about 9,000 cases are pending before NCLT benches in the country for insolvency and other routine matters. In bid to deal with the rising
Govt plans 8 special courts under NCLT to deal with rising insolvency cases | Business Standard News
The government plans to set up eight special courts under the National Company Law Tribunal to handle rising number of cases under the insolvency law,
IL&FS in more trouble: 7 defaults in last 15 days; fails to service yet another short-term deposit today – The Financial Express
Major shareholder LIC recently assured that it would not let crisis-hit IL&FS collapse Cash-strapped Infrastructure Leasing and Finance Services (IL&FS) on Thursday defaulted on Rs
RBI cancels meeting with IL&FS shareholders ahead of AGM, next date remains unknown – The Financial Express
IL&FS’s annual general meeting is scheduled for September 29 here. The Reserve Bank of India (RBI) has cancelled the Friday’s meeting with the shareholders of
IL&FS default scare could derail India growth story as banks, lenders pare exposure to NBFCs – The Financial Express
The company’s defaults have highlighted the risk of a sharp growth slowdown in the world’s fastest growing major economy. Manzoor Ahmad lost his job as
IL&FS moves NCLT for direct line with creditors – The Economic Times
Debt-laden IL&FS, the holding company of the infrastructure group, has filed an application with the Mumbai bench of National Company Law Tribunal seeking permission to
View: Falling, not rising, cronyism is the main cause of NPAs – The Economic Times
Rajan says he sent a list of prominent bank fraud cases to the PMO, but heard nothing more about it. Former RBI chief Raghuram Rajan has dissected the banking
Step in, Government, and force IL&FS to list–Economic Times
Infrastructure Leasing & Financial Services (IL&FS) has fashioned its own rescue, and the rescue plan might well work out. But it is too large an
IL&FS | NCLT: Sidbi may take IL&FS to National Company Law Tribunal–Economic Times
The Small Industries Development Bank of India (Sidbi) may file a case in the National Company Law Tribunal (NCLT) against debt-laden Infrastructure Leasing & Financial Services Ltd (IL&FS) for
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