National Company Law Tribunal (NCLT) Chairman Justice M M Kumar today said that Article 14 of the Constitution (right to equality) can be invoked if the committee
Category: IBC-SEBI
NCLAT refuses stay on Binani Cement proceedings at Kolkata NCLT – The Financial Express–22.04.2018
The National Company Law Appellate Tribunal (NCLAT) today refused to stay the NCLT proceedings on the resolution process of debt-ridden Binani Cement. The appellate tribunal,
RP tells NCLT Rewant Ruia end beneficiary of Numetal – The Financial Express–22.04.2018
According to the RP, on the date of submission of the Numetal Resolution plan, (Feb 12, 2018), the shareholding of the applicant was: 40% held
Bankruptcy: View: India turns a bad-loan tragedy into a bankruptcy farce – The Economic Times-21.04.2018—–*****
India’s banks have waited for more than a decade for a modern bankruptcy code. By Andy Mukherjee Want to screw up a good law? Just
Focus on market for resolution assets–Economic Times–20.04.2018
It is welcome that the first resolution under the Insolvency and Bankruptcy Code (IBC) has been completed, with the National Company Law Tribunal (NCLT) approving
Insolvency: Electrosteel becomes first of ‘Dirty Dozen’ to be resolved under Insolvency Code–18.04.2018
Anil Agarwal, chairman of the Vedanta Group told BloombergQuint that the Vedanta Group would look to complete the process of taking over Electrosteel Steels very
RBI must not relax new rule – Here is why – The Financial Express–18.04.2018
Ever since the Reserve Bank of India (RBI) came up with stringent rules for identifying and dealing with stressed exposures, both banks and the government
Protecting the insolvency process | Business Standard Editorials–18.04.2018
In February, the Reserve Bank of India (RBI), which serves as the banking regulator and is thus overseeing the bank asset clean-up process, had announced stringent norms
RBI may loosen NPA norms to let banks breathe easy – The Economic Times–17.04.2018
The Reserve Bank of India (RBI) may relax some of the stringent norms for treatment of bad loans that it announced in February without diluting their spirit,
IDBI Bank: NCLT admits S Kumars for insolvency proceedings–Economic Times–17.04.2018
The Mumbai chapter of the National Company Law Tribunal (NCLT) last week admitted textiles and apparel company S Kumars NationwideNSE 20.00 % for insolvency proceedings after the state-owned IDBI
Alok Industries: Alok lenders reject Reliance Industries-JM Financial ARC’s revised offer – The Economic Times–17 04 2018
Lenders to Alok IndustriesNSE -9.76 % have rejected a revised offer by Reliance Industries-JM Financial ARC to acquire the bankrupt company, implying that the borrower may head
RBI should stay firm on bankruptcy norms–Economic Times–17.04.2018
The finance ministry reportedly wants the Reserve Bank of India (RBI) to ease the norms for bad loans, ostensibly to prevent mass corporate distress. This
Insolvency and Bankruptcy Code: There is no alternative to the process – The Financial Express–17 04.2018
The Supreme Court’s disinclination to interfere in the Insolvency and Bankruptcy Code (IBC) process and entertain a petition by Binani Industries to terminate insolvency proceedings
Binani: SC order a new opportunity–Economic Times–16.04.2018
When Binani Cement moved the Supreme Court seeking to exit the resolution process under the Insolvency and Bankruptcy Code (IBC) overseen by the National Company
Give Insolvency and Bankruptcy Code a chance | Business Standard Column–16.04.2018
The Insolvency and Bankruptcy Code, 2016 (the Code), shall be two years old next month with mixed experience, despite government’s move at an unprecedented pace to operationalise
Insolvency and Bankruptcy Code: BJP claims Rs 4 lakh crore recovery; RBI data tell a different story | The Indian Express–16.04.2018
The IBC provides for a time-bound resolution within 180 days, and has a provision to extend the deadline by another 90-days. The BJP claimed on
Electrosteel Insolvency case: IBBI fines resolution professional for not considering creditor claim | The Indian Express–16.04.2018
National Sales’ claims fell in the category of 31 operational creditors for which claims are under ‘dispute’ in the pre-corporate insolvency resolution process The Insolvency
Binani withdraws termination plea of insolvency process | The Indian Express–16.04.2018
Binani Industries had reached an in-principle understanding with UltraTech Cement last month that would allow the latter to buy Binani Industries’ 98.43 per cent stake
Governor Patel, stay firm on bank norms–Economic Times–14.04.2018
Reserve Bank of India governor Urjit Patel has done the right thing to rule out any dilution in the norms for bad loans in the
Supreme Court says no to out-of-court settlement; Binani Ind withdraws plea – Business Line–14.04.2018
With the Supreme Court indicating it was not in favour of any out-of-court settlement, Binani Industries Ltd on Friday withdrew its plea seeking an end
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