Clipped from: https://www.thehindubusinessline.com/companies/unpaid-dues-operational-creditors-may-drag-siti-networks-to-nclt/article36971994.ece Firm said to owe vendors about ₹1,600 crore Even as Zee Entertainment is facing legal trouble with one of its investors, another Essel
Category: IBC-SEBI
NCLAT reserves orders in Vasan Health Care case – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/nclat-reserves-orders-in-vasan-health-care-case/article36972201.ece Both committee of Creditors and the Resolution Professional had filed the appeal as the deadline had been exceeded The National Company Law Appellate
Companies need more neeti, less niyam | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/companies-need-more-neeti-less-niyam-121101201593_1.html The key lies in training and aligning directors about the behavioural aspects of governance, not only about the laws Last week, the director
RBI warned Srei group repeatedly, Kanoria says it complied every time | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/rbi-warned-srei-group-repeatedly-kanoria-says-it-complied-every-time-121101000712_1.html Srei was one of the few top NBFCs in constant ‘asset quality review’ focus of RBI, even as the regulator never used that
RBI’s decision to supersede boards of Srei group cos will prevent domino effect: Experts – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/rbis-decision-to-supersede-boards-of-seri-group-cos-will-prevent-domino-effect-experts/articleshow/86910403.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The National Company Law Tribunal (NCLT) on Friday admitted the insolvency pleas moved by banking sector regulator RBI against the two Srei Group
Srei firms found ever-greening NPAs, in payment default – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/srei-firms-found-ever-greening-npas-in-payment-default/article36885428.ece As on March 31, 2020, Srei Infra had a negative CRAR of 3.4% against the regulatory requirement of 15% Concerns over ever-greening of
SREI group’s financial health withered well before pandemic, says RBI order – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/srei-financial-health-group-withered-well-before-pandemic-says-rbi-order/articleshow/86843251.cmsSynopsis The regulator was quite annoyed with repeated violations of prudential norms, including income recognition, asset classification and provisioning (IRACP), ever-greening of loans and
Srei group: Bombay HC dismisses Srei Group petition against RBI bankruptcy move – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/bombay-hc-dismisses-srei-group-petition-against-rbi-bankruptcy-move/articleshow/86835760.cmsSynopsis A division bench of Justices Ujjal Bhuyan and Madhav Jamdar, after hearing both sides dismissed the petition in an oral order and observed
Srei files writ petition in Bombay High Court against RBI | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/srei-files-writ-petition-in-bombay-high-court-against-rbi-121100601591_1.html The matter will be heard on October 7 Srei had expressed shock at the decision and has said it would pursue all legal
IBC: Beyond traditional liquidation – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/ibc-beyond-traditional-liquidation/2345146/ Sale of a company, that is under the liquidation process, as a ‘going concern’ has several advantages, but is subject to the will
Nabard, Sidbi, IFCI to take a hit from Srei troubles – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/nabard-sidbi-ifci-to-take-a-hit-from-srei-troubles/articleshow/86798763.cmsSynopsis IFCI is a lender to the core sector and infrastructure finance companies. Nabard is the refinance bank for the country’s agriculture needs, while
Srei lenders, second casualty of IL&FS implosion, now await a tense future – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/srei-lenders-second-casualty-of-ilfs-implosion-now-await-a-tense-future/articleshow/86804718.cms SynopsisThe woes of both the beleaguered DHFL and Srei entities arise from the collapse of IL&FS. The liquidity crisis after the collapse of
A Code for Creditors – BusinessToday
Clipped from: https://www.businesstoday.in/magazine/industry/story/a-code-for-creditors-308229-2021-10-06 The ‘commercial wisdom’ of CoCs has come under scrutiny after recent instances of massive haircuts under IBC. Is the proposed ‘code of conduct’
Srei Infra and Equipment Finance have debt obligations of over ₹29,000 crore – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/srei-infra-and-equipment-finance-have-debt-obligations-of-over-29000-crore/article36836171.ece Most banks have been providing for their exposure to the two companies The Reserve Bank of India is expected to soon initiate the
Corporate frauds likely to spike in post-Covid set-up, says survey | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/corporate-frauds-likely-to-spike-in-post-covid-set-up-says-survey-121100600078_1.html Over 62 per cent of independent directors indicated that they believe fraud will increase over the next two years About 63 per cent
‘Permissible unless prohibited’ is the position of the law – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/business-laws/permissible-unless-prohibited-is-the-position-of-the-law/article36813086.ece?homepage=true The Tribunal seems to have understood that the affairs of a company are often complex and involve numerous policy matters – istock.com/Maximusnd The
NCLT gives go ahead for insolvency case against BPSL promoters – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/nclt-gives-go-ahead-of-insolvency-case-against-bpsl-promoters/articleshow/86782808.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis In a hearing on Tuesday the Delhi NCLT granted interim moratorium and confirmed Reshma Mittal as resolution professional (RP) in a petition filed
Sebi proposes sweeping changes to HNI allotment process for IPOs | Business Standard News
Clipped from: https://www.business-standard.com/article/markets/sebi-proposes-sweeping-changes-to-hni-allotment-process-for-ipos-121100401186_1.html Also suggests changes to price discovery norms File photo: PTI The Securities and Exchange Board of India (Sebi) has mulled a new approach
RBI supersedes boards of SREI companies, plans for insolvency proceedings | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/rbi-supersedes-boards-of-srei-companies-plans-for-insolvency-proceedings-121100400867_1.html RBI said it has appointed Rajneesh Sharma, ex-chief general manager of Bank of Baroda, as the administrator of the companies The Reserve Bank
IIIPI panel lays out norms for RPs in MSME pre-pack – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/iiipi-panel-lays-out-norms-for-rps-in-msme-pre-pack/articleshow/86669104.cmsSynopsis Personal guarantees will likely get a disproportionate share of attention as experts craft the broad role definitions for professionals handling pre-packaged debt resolutions
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