Neeraj Singhal, promoter and vice-chairman of Bhushan Steel, was arrested by the Central Bureau of Investigation (CBI) in August 2014. Singhal’s arrest came days after
Category: IBC-SEBI
You asked for it, so the Bankruptcy Code is here to stay–Economic Times–12.07.2017
During the days of corporate debt restructuring (CDR), numerous borrowers and their advisors pleaded that “in the absence of Chapter 11” , they have no
New bankruptcy law: Multiple delays in first case offers cautionary tale–Business Standard–11.07.2017
In January, Innoventive Industries, a speciality steelmaker based in western India, was forced into the bankruptcy court by its lenders, testing for the first time
First test of new bankruptcy law offers cautionary tale–Business Line–11.07.2017
The new Insolvency and Bankruptcy Code aims to move cases of company failure into a single forum In January, Innoventive Industries, a speciality steelmaker based
The buy side in bankruptcy process–Business Standard–10.07.2017
The main focus of the Indian bankruptcy reform has been on the sell side: On creating conditions where lenders eject shareholders and put a firm
RBI: NCLT priority for insolvency: RBI partially retracts statement – The Economic Times–09.07.2017
RBI today withdrew a portion of its earlier statement in which it had said that 12 cases identified by it for insolvency proceedings would be
Gujarat HC frowns over directive asking banks to initiate bankruptcy proceedings, RBI on back foot–Economic Times–08.07.2017
The Reserve Bank of India agreed to amend its June 13 press release after the Gujarat High Court expressed surprise at the document’s wording,
Bank NPAs crisis: Insolvency process can only get delayed if courts entertain appeals against RBI orders
On June 13, the central bank had identified a clutch of 12 accounts—this included Essar Steel—that were to be referred by banks to the NCLT,
Proprietary firms to come under bankruptcy code–Business Standard–05.07.2017
After making the insolvency process easier for companies, the focus is now turning to proprietary firms. The NITI Aayog will have a meeting, in this
Let the market decide–Business Standard–28.06.2017
Last week, the Securities and Exchange Board of India (Sebi) took some important decisions to facilitate the turnaround of distressed companies with the underlying intention
Huge haircut needed on largest NPAs, says CRISIL
Rating agency CRISIL said the banks in question would need to find an extra Rs 40,000 crore as bad loan provisioning for the 12 big-size
Ordinance empowering RBI in tackling bad loans only a one-off measure: Former RBI Governor YV Reddy–Economic Times–27.06.2017
The ordinance empowering Reserve Bank to direct banks to take defaulters to bankruptcy courts is blurring the roles of the regulator and the government, although
Housing woes: Builder’s default is buyers’ pain–Business Standard–26.06.2017
When a bridge is weak, and a heavy truck tries to ride on it, the bridge collapses. We must be mindful of load-bearing capacity in
Resolve 55 accounts in 6 months or face IBC: RBI to banks–Business Standard–23.06.2017
RBI has asked banks to resolve 55 high value cases of bad loans within 6 months or face the prospect of being directed to go
Bankruptcy code no magic wand–Economic Times–22.06.2017
It is a good thing the RBI and the banks have started identifying big loan defaulters, to resolve these bad loans. True, the new bankruptcy
The new Insolvency and Bankruptcy Code will make it impossible for Indian banks to lend with compassion–Economic Times–21.06.2017
When the Reserve Bank of India dropped a bombshell on the evening of June 13, ordering banks to take the top-12 defaulters to bankruptcy courts,
Big NPAs offer insolvency professionals a Rs 2,500-cr biz prospect
The Reserve Bank of India’s (RBI’s) move to push 12 large non-performing assets (NPAs) of the banking system into the insolvency process has created a
Stressed steel sector loans easier to resolve: bankers–Business Line [ The Hindu ] -17-06-2017
Thanks to revival in demand and prices–Stressed companies in the steel sector stand a better chance of getting resolved under the Insolvency and Bankruptcy Code
Steel, infra companies in RBI’s big-debtor list–Business Line [ The Hindu ] –17-06-2017 ]
‘Dirty dozen’ accounts for ₹2 lakh cr exposure Big companies in the steel and infrastructure sectors dominate the list of 12 large accounts identified by
No timeline for identification of additional defaulters: RBI’s S S Mundra–Financial Express–17-06-2017
RBI Deputy Governor S S Mundra today ruled out coming out with next batch of loan defaulters against whom insolvency proceedings will be initiated. The
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