Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/nclt-admits-tea-producer-mcleod-russel-for-bankruptcy-proceedings/articleshow/85121116.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The bankruptcy proceedings were initiated by construction company Techno Electric and Engineering Company in 2019 over a default on interest payments towards a
Category: IBC-SEBI
Capital markets reforms: Sebi ushers in next generation reforms in capital markets, promoter definition – The Economic Times
Clipped from: https://economictimes.indiatimes.com/markets/stocks/news/sebi-ushers-in-next-generation-reforms-in-capital-markets-promoter-definition/articleshow/85126699.cmsSynopsis The Sebi board has rolled out two very significant changes – first, the reduction in lock-in periods for minimum promoters’ contribution and for
RIL-Future deal: Lenders worried over big hair-cuts, IBC option open | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/ril-future-deal-lenders-worried-over-big-hair-cuts-ibc-option-open-121080601985_1.html Retail entity’s cash flows have been hit, and if the merger deal does not go through, the working of restructuring would be under
RIL-Future deal: Lenders worried over big hair-cuts, IBC option open | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/ril-future-deal-lenders-worried-over-big-hair-cuts-ibc-option-open-121080601985_1.html Retail entity’s cash flows have been hit, and if the merger deal does not go through, the working of restructuring would be under
The haircut that never was: Need to factor in whether a loan account had become an NPA while assessing haircut from its resolution under IBC – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/the-haircut-that-never-was-need-to-factor-in-whether-a-loan-account-had-become-an-npa-while-assessing-haircut-from-its-resolution-under-ibc/2305310/ A delay in initiating the insolvency process also means that creditors, because of their unhappy experience, are more inclined to take back their
Can a govt bailout package keep Voda-Idea afloat? – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/can-a-govt-bailout-package-keep-voda-idea-afloat/article35751574.ece?homepage=true If Voda can’t sustain itself as a going concern, the only option is for it to go under the IBC With both promoters,
IBC: Urgently need a professional ‘Code of Conduct’ for committee of creditors, says Parliamentary Panel – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/ibc-urgently-need-a-professional-code-of-conduct-for-committee-of-creditors-says-parliamentary-panel/article35720695.ece Panel also highlights that the CoCs currently have ‘significant discretion’ in accepting late and unsolicited resolution plans The Standing Committee on Finance headed
Banks use ARCs for ever-greening: Parliamentary Committee on Finance | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/banks-use-arcs-for-ever-greening-parliamentary-committee-on-finance-121080401179_1.html Calls for encouraging banks to bring down their leverage, says present “grim situation” should not be used as an alibi for bank privatisation
Respect regulations | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/respect-regulations-121080401927_1.html Govt’s U-turn on minimum public float of PSUs is surprising The benchmark stock market indices hit all-time highs this week and the sustained buoyancy is
Making the IBC more effective – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/making-the-ibc-more-effective/2304475/ The latest amendment, which makes the insolvency professional more accountable on avoidance transactions, was much-needed, but addresses the issue only partially It is
Competition Commission of India clears PNB Housing Finance deal with Carlyle – The Financial Express
Clipped from: https://www.financialexpress.com/industry/competition-commission-of-india-clears-pnb-housing-finance-deal-with-carlyle/2304305/ PNBHF, however, has said it would await SAT judgment on the matter. The appellate tribunal has already heard both the sides but is
IBC is good, tweaks can make it better – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/ibc-is-good-tweaks-can-make-it-better/2304487/ The conflict between the sanctity of the insolvency resolution process and maximising value must be sorted out The Mumbai NCLT bench, for instance,
Piramal resolution for DHFL: 63 Moons moves Supreme Court against NCLT order – The Financial Express
Clipped from: https://www.financialexpress.com/industry/piramal-resolution-for-dhfl-63-moons-moves-supreme-court-against-nclt-order/2304490/ 63 Moons, which holds non-convertible debentures (NCDs) worth over Rs 200 crore issued by DHFL, has challenged the NCLAT’s judgment on the grounds
Sebi sets up an expert group to examine IPO book-building process | Business Standard News
Clipped from: https://www.business-standard.com/article/markets/sebi-sets-up-an-expert-group-to-examine-ipo-book-building-process-121080400052_1.html Market regulator observes several shortcomings in the existing procedure Anchor investors are institutions which are allotted shares ahead of an IPO The Securities
Poor asset valuation, economic climate, NCLT delays see IBC losing favour | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/poor-asset-valuation-economic-climate-nclt-delays-see-ibc-losing-favour-121080301989_1.html Less than 200 cases have been admitted to the National Company Law Tribunal till June after the suspension was lifted on March 24,
IBC deviated from its original objectives, says Standing Committee on Finance – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/ibc-deviated-from-its-original-objectives/article35705720.ece Need to revisit its design and implementation, it said The Standing Committee on Finance headed by Jayant Sinha said the Insolvency and Bankruptcy
IBBI: Too early to think about pre-pack scheme for large firms – The Financial Express
Clipped from: https://www.financialexpress.com/industry/ibbi-hints-at-pre-pack-scheme-for-large-firms/2302882/ Already, IPs have, in many cases, unearthed avoidance transactions and filed applications with the National Company Law Tribunal (NCLT) for appropriate directions, he
IBC strayed from original goals: Panel – The Financial Express
Clipped from: https://www.financialexpress.com/economy/ibc-strayed-from-original-goals-panel/2303646/ As many as 13,170 insolvency cases involving claims of Rs 9 lakh crore are awaiting resolution before the National Company Law Tribunal (NCLT),
IBC sharply reduced haircuts for lenders, says IBBI chief Sahoo – The Financial Express
Clipped from: https://www.financialexpress.com/economy/ibc-sharply-reduced-haircuts-for-lenders-says-ibbi-chief-sahoo/2303648/ “It is axiomatic that a company coming to the IBC does not have adequate assets to repay all its creditors. On an average,
Changes to insolvency law approved by Rajya Sabha – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/changes-to-insolvency-law-approved-by-rajya-sabha/articleshow/85015887.cmsSynopsis Rajya Sabha gave its nod to the bill, cleared by Lok Sabha on July 28, which will replace the ordinance promulgated in April
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