Clipped from: https://www.businesstoday.in/industry/banks/story/bad-bank-india-debt-resolution-co-takes-shape-with-three-directors-rs-50-cr-capital-307396-2021-09-23 There are plans to attract professionals in the management of affairs of the IDRCL but there is also a possibility of both public
Category: IBC-SEBI
Accounting regulator raps ‘EY arm’s’ audit of IL&FS firm – The Hindu
Clipped from: https://www.thehindu.com/business/accounting-regulator-raps-ey-arms-audit-of-ilfs-firm/article36638737.ece ‘Understatement of losses runs up to more than ₹2,000 crore’ The National Financial Reporting Authority (NFRA) has rapped ‘EY group firm’ SRBC &
Lenders defeating the IBC’s spirit – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/lenders-defeating-the-ibcs-spirit/2335568/ Videocon bid and, now, U-turn show banks defanging IBC by letting buyers acquire stressed assets at basement bargains Indeed, the sale, at Rs
Streamline consent – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/streamline-consent/article36592553.ece?homepage=true Tighter timelines are welcome, but transparency is needed on the rationale for consent decisions It has been 15 years since the Securities Exchange
Foreign investors want Sebi to delay shorter trade settlement plan | Business Standard News
Clipped from: https://www.business-standard.com/article/markets/foreign-investors-want-india-to-delay-shorter-trade-settlement-plan-121092200150_1.html Sebi’s plan could push foreign investors to upgrade their custodial arrangements, spend more on foreign exchange charges and other costs. Photo: Bloomberg India
Videocon insolvency: Lenders make U-turn, approach NCLAT for fresh bids | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/videocon-insolvency-lenders-make-u-turn-approach-nclat-for-fresh-bids-121092001057_1.html Billionaire Anil Agarwal’s Twin-Star Technologies had offered Rs 2,962 crore to takeover Videocon Industries, which was 4.15% of the admitted claims of Rs
Insider Trading Violations: The implications of Sebi’s recent rulings – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/insider-trading-violations-the-implications-of-sebis-recent-rulings/2331027/ The regulatory objective of the insider-trading law is outlawing the ‘abuse of UPSI’; Sebi therefore must not bar all trade by a person
SC says no power to condone delay in NSEL appeal – The Financial Express
Clipped from: https://www.financialexpress.com/market/sc-says-no-power-to-condone-delay-in-nsel-appeal/2330343/ A Bench led by Justice MR Shah said Parliament has not carved out any exception to a situation where limitation to file an
All is not well with India’s bankruptcy law. Here’s how it can be fixed – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-commentary/all-is-not-well-with-indias-bankruptcy-law-heres-how-it-can-be-fixed/articleshow/86210713.cmsSynopsis The problems range from voluntary bankruptcy not working as it should to unaccountable and unethical resolution professionals (RPs) and the absence of a
Liquidation as a going concern is an effort to maximise value & save firms under insolvency | INTERVIEW – The Financial Express
Clipped from: https://www.financialexpress.com/industry/liquidation-as-a-going-concern-an-effort-to-maximise-value-and-save-firms-under-insolvency-interview/2329836/ In an effort to maximise the value of a company undergoing insolvency proceedings, the bankruptcy court has allowed for liquidation of the company
Sebi plans to overhaul consent settlement rules, reduce timeline by a third | Business Standard News
Clipped from: https://www.business-standard.com/article/markets/sebi-plans-to-overhaul-consent-settlement-rules-reduce-timeline-by-a-third-121091401222_1.html At present, a settlement application can be filed in 60 days of receipt of show-cause; another 120 days given to noticee paying 25%
IBC — five years young – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/ibc-five-years-young/article36437578.ece?homepage=true IBC came in as a breath of fresh air but it needs to keep evolving to be effective and useful When the Insolvency
Rise of proxy advisors – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/rise-of-proxy-advisors/article36438718.ece?homepage=true New rules from Jan 2022 will give them more power On January 1, 2022, a game-changing regulation impacting the appointment/reappointment of independent directors
T+1 the way to go – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/t1-the-way-to-go/article36415690.ece?homepage=true However, making shorter settlement cycles optional could lead to chaos on the bourses In a welcome development, the stock exchange regulator has taken
Welcome Move to Nudge on Tribunals – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/welcome-move-to-nudge-on-tribunals/articleshow/86148399.cmsSynopsis The Tribunal Reforms Act 2021 contains provisions of the Ordinance that had been struck down by the court. The government has, in many
Liquidation as “going concern” gains traction – The Economic Times
lipped from: https://economictimes.indiatimes.com/news/economy/policy/liquidation-as-going-concern-gains-traction/articleshow/86141205.cmsSynopsis The Ahmedabad chapter of the National Company Law Tribunal (NCLT) last week passed an order clearing the liquidation of an insolvent company, PSL
All you wanted to know about T+1 settlement cycle – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/commodity-analysis/all-you-wanted-to-know-about-t1-settlement-cycle/article36406863.ece Market regulator SEBI (Securities and Exchange Board of India) last week introduced T+1 settlement cycle for share transactions. Notably, the settlement cycle was
NCLAT admits Dhoot’s petition against Anil Agarwal’s Twin Star takeover bid | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/nclat-admits-dhoot-s-petition-against-anil-agarwal-s-twin-star-takeover-bid-121091100615_1.html The appellate tribunal has issued notices to the resolution professional, lenders and Twin Star Technologies directing them to file a reply by September
Shaktikanta Das: Banks’ NPAs stable in June quarter, look manageable; IBC needs improvement: RBI Governor Shaktikanta Das – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/banks-npas-stable-in-june-quarter-look-manageable-ibc-needs-improvement-rbi-governor-shaktikanta-das/articleshow/86072286.cmsSynopsis RBI Governor Shaktikanta Das said banks have capital buffers of over 16 per cent while the same for NBFCs is at 25 per
Bankrupting reform: Vacancies in NCLT are undermining IBC. GoI needs to fill them soon
Clipped from: https://timesofindia.indiatimes.com/blogs/toi-editorials/bankrupting-reform-vacancies-in-nclt-are-undermining-ibc-goi-needs-to-fill-them-soon/TOI Edit Times of India’s Edit Page team comprises senior journalists with wide-ranging interests who debate and opine on the news and issues of
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