Clipped from: https://www.thehindubusinessline.com/opinion/shareholder-activism-is-here-to-stay/article37855523.ece Some recent corporate developments have bought governance issues to the fore – Getty Images/iStockphoto Some recent corporate developments have bought governance issues to
Category: IBC-SEBI
Chorus rises for law on individual insolvency – The Hindu BusinessLine
BJP MP Suresh Prabhu leads the demand for a legal framework and institutionalised mechanism The chatter about the need to urgently put a legal framework
Converting equity shares into preference shares – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/business-laws/converting-equity-shares-into-preference-shares/article37741206.ece Preference shares carry preferential rights on the matters of payment of dividend and repayment of capital – a privilege that the equity shareholders
reliance capital: RBI’s insolvency move against Reliance Capital may face hiccups – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/rbis-insolvency-move-against-reliance-capital-may-face-hiccups/articleshow/88082884.cmsSynopsis Lenders hope that the central bank does not direct a consolidated resolution of all three financial services companies which will mean all the
Code of conduct: IBBI move on COCs raises questions on jurisdiction | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/code-of-conduct-ibbi-move-on-cocs-raises-questions-on-jurisdiction-121120201540_1.html The step has added to the growing concern around the role of the insolvency regulator and whether it has delivered the goods IBC
IBBI empowers adjudicating authority to pick IPs from panel to curb delays | Business Standard News
lipped from: https://www.business-standard.com/article/economy-policy/ibbi-empowers-adjudicating-authority-to-pick-ips-from-panel-to-curb-delays-121120200862_1.html Board has prepared an algorithm to place insolvency professionals on a panel in a particular order. The IP with lowest volume of ongoing
reliance capital: RBI action against Reliance Capital: Better late than never – The Economic Times
lipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/rbis-action-against-reliance-capital-better-late-than-never/articleshow/88040852.cmsSynopsis As a practical matter, a company can’t be referred to the National Company Law Tribunal (NCLT) within weeks and months of a first
NCLT initiates insolvency proceedings against MGF Developments Limited – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/services/property-/-cstruction/nclt-initiates-insolvency-proceedings-against-mgf-developments-limited/articleshow/88012570.cmsSynopsis MGF had formed a joint venture with Emaar Properties, which entered India in 2005 with the largest FDI in the realty sector under
Implications of using bankruptcy code against discoms–Pratik Datta writes: INDIAN EXPRESS
Clipped from: https://indianexpress.com/article/opinion/columns/discoms-privatisation-bankruptcy-code-insolvency-resolution-7648042/ 🔴 Pratik Datta writes: It would compel states to either reform their financially distressed discoms or yield to privatisation efforts through insolvency resolution.
Centre to relax lock-in period for sale of NINL assets to one year | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/centre-to-relax-lock-in-period-for-sale-of-ninl-assets-to-one-year-121113000040_1.html The condition for the sale would be subject to the sale proceeds being utilised for the company within three years The NINL privatisation
Sebi won’t interfere with IPO valuations, says chairman Ajay Tyagi | Business Standard News
Clipped from: https://www.business-standard.com/article/markets/sebi-won-t-interfere-with-ipo-valuations-says-chairman-ajay-tyagi-121112900048_1.html ‘Adequate time has already been given for separation of the CMD post. We urge them (companies) to comply before the deadline’, said Tyagi
Karvy effect: SEBI’s collateral management norms may ring closing bell for clearing houses – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/markets/stock-markets/karvy-effect-sebis-collateral-management-norms-may-ring-closing-bell-for-clearing-houses/article37742118.ece?homepage=true Most clearing members are scaling down or shutting shops SEBI’s new rule on collateral management and reporting is pushing some of the larger
IBC to get welcome cross-border teeth – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/ibc-to-get-welcome-cross-border-teeth/articleshow/87967925.cmsSynopsis Rightly, India wants to adopt the UNCITRAL Model Law of Cross Border Insolvency, 1997, aligning with global practice. The government’s reported move to
Asian Paints’ promoters come under fire for related party transactions | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/asian-paints-promoters-come-under-fire-for-related-party-transactions-121112400842_1.html Board failed to mitigate conflict of interest, says proxy advisory firm Ingovern The Dani family, one of the promoters of India’s largest paint
SEBI asks exchanges, depositories, clearing corps to disclose complaint data on websites – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/markets/sebi-asks-exchanges-depositories-clearing-corps-to-disclose-complaint-data-on-websites/article37662653.ece Under the disclosure, the entities will have to reveal complaints received during the month, those carried forward, and the average time taken to
Ingovern wants Asian Paints promoters removed from board – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/ingovern-wants-asian-paints-promoters-removed-from-board/article37661765.ece?homepage=true Shareholder advisor cites allegations of related-party transactions and conflict of interest Shareholder advisor firm Ingovern has sought the removal of Asian Paints (APL)
IBBI organises awareness programmes for IT Dept officers – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/ibbi-organises-awareness-programmes-for-it-dept-officers/article37573433.ece Covered deliberations on various provisions of the Code like the issues relating to moratorium, filing of claims, resolution plans, among others The Insolvency
What are the rights of shareholders in India? – The Financial Express
Clipped from: https://www.financialexpress.com/money/what-are-the-rights-of-shareholders-in-india/2373632/ When one thinks of shareholders’ rights, the concern is always about the small retail shareholder, and much less, about large institutional shareholders. Promoters
Jindal Saw likely to acquire Sathavahana Ispat under the IBC route – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/jindals-holding-company-siddeshwari-tradex-likely-to-acquire-sathavahana-ispat-under-the-ibc-route/articleshow/87834401.cmsSynopsis P R Jindal unit raises Rs 500 crore from Edelweiss managed fund, ECL at 25% IRR for 5 years to acquire distressed steel
NCLT approves decison to liquidate Sterling International Enterprises – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/nclt-approves-decison-to-liquidate-sterling-international-enterprises/article37607914.ece Sterling International Enterprises Ltd is part of the The Sandesaras group The National Compay Law Tribunal (NCLT) has given its go-ahead to liquidate