Clipped from: https://www.business-standard.com/article/opinion/why-reserve-bank-has-shocked-srei-121101800017_1.html It seems that the RBI had very little choice as the promoters did not infuse fresh capital, make adequate provisioning and improve corporate
Category: IBC-SEBI
Test case – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/opinion/test-case/article37010374.ece SREI’s resolution, after DHFL, will be seen as a test case on whether IBC can work for financial firms The Reserve Bank of
Revision of GST assessment order beyond RP’s jurisdiction, not sustainable in law: NCLAT – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/revision-of-gst-assessment-order-beyond-rps-jurisdiction-not-sustainable-in-law-nclat/article37010564.ece A recent order by Chennai bench of NCLAT made it clear that revision of GST assessment order is beyond RP jurisdiction and not
Distressed assets: Winds of change – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/distressed-assets-winds-of-change/2350091/ The government, RBI and SEBI are on the right track in reforming the Indian stressed assets market Policymakers should consider the following legal
NCLT order to revalue Acil assets raises fears of resolution delays – The Economic Times
Clipped from: https://economictimes.indiatimes.com/markets/stocks/news/nclt-order-to-revalue-acil-assets-raises-fears-of-resolution-delays/articleshow/86981851.cms SynopsisA two-judge bench of the National Company Law Tribunal (NCLT) in Delhi has sought revaluation of assets in a more than three-year old
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
NFRA Chief: Centre constitutes search-cum-selection panel – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/nfra-chief-centre-constitutes-search-cum-selection-panel/article36968805.ece Panel headed by Cabinet Secretary tasked to make recommendations within four months New Delhi, October 12 The Corporate Affairs Ministry ( MCA) has
Unpaid dues: Operational creditors may drag Siti Networks to NCLT – The Hindu BusinessLine
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
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’
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