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
Category: IBC-SEBI
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
Lenders approach RBI after ₹30,000 crore Srei loans turn NPA – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/lenders-approach-rbi-after-30000-crore-srei-loans-turn-npa/articleshow/86668737.cmsSynopsis In response to a query from ET, a Srei Group spokesperson said the economic downturn and loan moratoriums provided by the regulator had
With resolution of DHFL, Jet in kitty, five-year-old IBBI has a long road ahead that stares it back – The Economic Times
Clipped from: https://economictimes.indiatimes.com/prime/corporate-governance/with-resolution-of-dhfl-jet-in-kitty-five-year-old-ibbi-has-a-long-road-ahead-that-stares-it-back/primearticleshow/86593100.cms SynopsisThe Insolvency and Bankruptcy Board of India or IBBI, the insolvency regulatory body set up as per the Insolvency and Bankruptcy Code, turns
Insolvency professionals back success fee, warn against over-regulation | Business Standard News
Clipped from: https://www.business-standard.com/article/current-affairs/insolvency-professionals-back-success-fee-warn-against-over-regulation-121100100021_1.html?utm_source=Spotlight&utm_medium=website&utm_campaign=Premium_11072018 The NCLAT held that success fee is more in the nature of contingency and speculative it is not part of IBC provisions and
Sale of Sical Logistics under IBC takes a new turn – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/logistics/sale-of-sical-logistics-under-ibc-takes-a-new-turn/article36774059.ece Qualified bidders protest move to sell Sical Logistics’ stake in two subsidiaries separately Just a fortnight before the bidders, including Allcargo Logistics Ltd
Reform drive – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/the-amendment-to-delisting-rules-will-smoothen-the-process-for-ma-deals/article36739196.ece?homepage=true The amendment to delisting rules will smoothen the process for M&A deals The Securities and Exchange Board of India (SEBI) has pushed through
Chairman/MD not vicariously liable for criminal acts of company: SC–TAXGURU.IN
Clipped from: https://taxguru.in/corporate-law/chairman-md-vicariously-liable-criminal-acts-company-sc.html Ravindranatha Bajpe Vs Mangalore Special Economic Zone Ltd. & Others Etc. (Supreme Court) Learned Magistrate has to record his satisfaction about a prima
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