The National Company Law Appellate Tribunal (NCLAT) today asked the Committee of Creditors (CoC) of debt-ridden Bhushan Power & Steel to proceed with the bids submitted by Tata Steel and UK-based Liberty
Category: IBC-SEBI
Bhushan deal was done in 48-72 hours, reveals Tata Steel CEO T V Narendran | Business Standard -News-25.05.2018
The Insolvency and Bankruptcy Code (IBC) got a leg-up with Tata Steel’s acquisition of Bhushan Steel, the first big case to be resolved. Tata Steel CEO & MD T V
Battle for Essar Steel: Journey of Rewant Ruia from 100% to 0% in Numetal | Business Standard News
The National Company Law Appellate Tribunal (NCLAT) has put the resolution process of Essar Steel on hold. NCLAT will now hear ArcelorMittal and Numetal, the
Corporate debtors must get shareholders’ approval to initiate insolvency process – Business Line–25.05.2018
Limitation Act to apply for NCLT/NCLAT proceedings, says new ordinance Shareholders’ approval through a special resolution is a must for a ‘corporate debtor’ to
IBC: Govt readies IBC 2.0 to cope with increasing challenges – Times of India–25.05.2018
Last June, when the RBI ordered banks to initiate insolvency action against a dozen companies, resolution was expected by the end of the last financial
IBC Act: Why Sunil Kanoria of Srei Infra feels interpretation is killing it – The Economic Times–24.05.2018
If you look at Srei, we have two key businesses. One, equipment financing and two, infrastructure financing. We have faced a major challenge in the
Easing the load: Cabinet clears ordinance for changes to the bankruptcy code – The Financial Express–24.05.2018
The Union Cabinet on Wednesday approved an ordinance amending the Insolvency and Bankruptcy Code (IBC). This follows suggestions made by a 14-member Insolvency Law Committee,
Binani RP postpones creditors’ meet – The Financial Express–24.05.2018
The resolution professional (RP) of insolvent Binani Cement has postponed the creditors’ meet, which was scheduled for Thursday, citing that the resolution plan submitted by
Working, but too slowly: Bankruptcy process must keep to its own timetable | Business Standard -Editorials-24.05.18-R
The successful sale of Bhushan Steel to Tata Steel on Friday was the first big case to be resolved under the new bankruptcy framework. Among the National Democratic Alliance
Home buyers to get rights as ‘creditors’ of insolvent firms – Business Line–24.05.2018
The Union Cabinet on Wednesday gave its approval for an ordinance to amend the insolvency law so as to, among other things, treat home buyers
Bankruptcy relief for MSME promoters – Times of India–24.05.2018
Highlights Insolvency and Bankruptcy Code (IBC), has suggested that promoters of companies with turnover of up to Rs 250 crore will be allowed to bid
NCLT –‘Fraud’ land deal: 3 banks to challenge NCLT order – Times of India–24.05.2018
At least three private sector lenders — ICICI Bank, Standard Chartered and Axis Bank — are challenging the National Company Law Tribunal’s (NCLT) order that asked them
IBC–Law and learning | The Indian Express–24.05.2018
While there have been concerns regarding the timeline of 270 days, what cannot be lost sight of is the fact that the IBC is a
Amid rising bad loans of PSBs: Government won’t allow banks to default, says DFS secretary | The Indian Express–24.05.2018
The government has backed up and there’s no way the government can allow any bank to default,” financial services secretary Rajiv Kumar said. Express photo
RBI | Bad Loan: SBI chief says RBI bad loan directive will discipline governments and borrowers–Economic Times–23.05.2018
State Bank of India chief has hailed the recent Reserve Bank of India (RBI) directive on bad loans stating that it will prompt state and
Insolvency: NCLAT puts on hold resolution process for Essar Steel | Business Standard News–23.05.2018
The National Company Law Appellate Tribunal (NCLAT) has put on hold the resolution process for Essar Steel. The appellate tribunal has asked the resolution professional, Committee of Creditors (CoC) and
NCLAT rejects Dalmia Bharat’s plea for status quo on bids for Binani Cement | Business Standard News–23.05.2018
The National Company Law Appellate Tribunal (NCLAT) on Tuesday declined to order a status quo on the bids to maximise the offer for debt-ridden Binani Cement by the two
Bhushan breakthrough – Business Line–23.05.2018
Given that other NCLT cases may face a tougher road, the rules must be tweaked to ensure that the widest possible range of bidders participate
Insolvency and Bankruptcy code: Over 2,100 companies settle Rs 83,000 crore bank dues–Times of India–23.05.2018
Highlights Over 2,100 companies have cleared their outstanding amounts, a majority of which came after the government amended the IBC The IBC rules barred promoters
Essar Steel insolvency case: NCLAT asks creditors, RP and NCLT not to pass any order | The Indian Express–23.05.2018
Top global players have submitted bids to acquire debt-laden Essar Steel. A decision on the bankrupt Essar Steel was pushed back further on Tuesday, as
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