Clipped from: https://www.financialexpress.com/economy/monsoon-session-pre-pack-insolvency-bank-privatisation-top-agenda/2289600/ The government will also seek Parliament’s nod for the Deposit Insurance and Credit Guarantee Corporation (Amendment) Bill to give time-bound access to depositors
Category: IBC-SEBI
Regulations must remove the fetters on asset reconstruction companies – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/regulations-must-remove-the-fetters-on-asset-reconstruction-companies/articleshow/84389152.cmsSynopsis An ARC should not be limited to buying and selling financial securities, but must be free to buy and sell the underlying assets
RBI may tweak rules to reduce ARCs’ cash outgo when buying stressed assets – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/rbi-may-tweak-rules-to-reduce-arcs-cash-outgo-when-buying-stressed-assets/article35287042.ece?homepage=true The lowering of the ‘skin in the game’ requirement will encourage ARCs to step up purchase of bad loans – Getty Images/iStockphoto The
Banks to invoke sureties given by promoters of 17 defaulting cos – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/banks-to-invoke-sureties-given-by-promoters-of-17-defaulting-cos/article35287233.ece?homepage=true In May, the SC upheld the amendment to the Insolvency and Bankruptcy Code that allowed lenders to invoke the personal guarantees of promoters
Accounting Standard for share-based payments for certain corporates – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/coming-soon-accounting-standard-for-share-based-payments-for-certain-corporates/article35265318.ece?homepage=true It will be part of the set of ‘Accounting Standards’ and not part of Ind AS Small corporates with annual turnover less than
Exchanges announce host of safeguards for investors in cos under IBC | Business Standard News
Clipped from: https://www.business-standard.com/article/markets/exchanges-announce-host-of-safeguards-for-investors-in-cos-under-ibc-121070901045_1.html Bourses to tag firms, ask brokers to alert clients who place orders in such stocks; RPs asked to make disclosures after NCLT oral
Debt resolution plan: Exchanges give firms 30 minutes to inform them of NCLT order – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/markets/stock-markets/bse-nse-initiate-steps-to-deal-with-info-asymmetry-on-cos-undergoing-insolvency-resolution-process/article35230303.ece?homepage=true Move to curb insider trading In a bid to curb speculative trading, stock exchanges have mandated listed companies undergoing insolvency processes to inform
Multidisciplinary firms a reality after MCA nod – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/multidisciplinary-firms-a-reality-after-mca-nod/article35238002.ece CA firms can rope in cost accountants, company secretaries, actuaries to offer various services Legal decks have been cleared for audit firms to
Bankruptcy process needs a re-look | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/bankruptcy-process-needs-a-re-look-121070801514_1.html A mechanism is needed to ensure bank-led resolution- not the NCLT- is the first resort for lenders Bankers are finding out that the National
Termination of telecom licence will kill RCom resolution, Deloitte tells bankruptcy court – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/telecom/telecom-news/termination-of-telecom-licence-will-kill-rcom-resolution-deloitte-tells-bankruptcy-court/articleshow/84246107.cmsSynopsis Under the IBC proceedings, RCom’s committee of creditors in March 2020 had cleared a resolution plan that would see asset reconstruction firm UVARCL
Insolvency law’s aim is business rejig, not recovery: M S Sahoo, chairman, IBBI – The Economic Times
lipped from: https://economictimes.indiatimes.com/news/economy/policy/insolvency-laws-aim-is-business-rejig-not-recovery-m-s-sahoo-chairman-ibbi/articleshow/84137210.cmsSynopsis BC has only one objective, that is, reorganisation. It reorganises the affairs of a company to rescue it if its business is viable
Jaypee Infra insolvency Case: IRP Anuj Jain files Suraksha group’s resolution plan with NCLT
Clipped from: https://economictimes.indiatimes.com/industry/services/property-/-cstruction/jaypee-infra-insolvency-irp-anuj-jain-files-suraksha-groups-resolution-plan-with-nclt/articleshow/84231983.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis On June 23, financial creditors of Jaypee Infratech Ltd (JIL) picked Mumbai-based Suraksha group over state-owned NBCC for taking over the insolvent firm,
Reliance Retail Future Deal: Future Retail-Reliance deal: SC to hear on July 20 Amazon plea against HC verdict – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/services/retail/future-retail-reliance-deal-sc-to-hear-on-july-20-amazon-plea-against-hc-verdict/articleshow/84230549.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis On February 22, the top court had asked the National Company Law Tribunal (NCLT) not to pass the final order on the amalgamation.
Ajay Piramal is taking a leap of faith with the acquisition of DHFL. Can he get it right this time? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/prime/fintech-and-bfsi/ajay-piramal-is-taking-a-leap-of-faith-with-the-acquisition-of-dhfl-can-he-get-it-right-this-time/primearticleshow/84184335.cms SynopsisPiramal Group’s DHFL acquisition is a combination of Ajay Piramal’s aspiration to build a decent-scale financial-services business and the management’s perseverance through the
Ignore nominee directors at your own peril – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/company/corporate-trends/view-ignore-nominee-directors-at-your-own-peril/articleshow/84196693.cmsSynopsis The efforts to strengthen the corporate governance framework through enhancing the effectiveness of Independent Directors are welcome. These directors are essential for monitoring
NCLAT allows withdrawal of Oyo insolvency case in setback to hoteliers – The Economic Times
Clipped from: https://economictimes.indiatimes.com/tech/startups/nclat-allows-withdrawal-of-oyo-insolvency-case-in-setback-to-hoteliers/articleshow/84198131.cmsSynopsis Oyo has reached an out-of-court settlement with hotelier Rakesh Yadav, but scores of others had approached NCLT with claims against the company that
Bank fraud: Shakti Bhog CMD Kewal Krishan Kumar arrested in money laundering case – The Financial Express
Clipped from: https://www.financialexpress.com/india-news/bank-fraud-shakti-bhog-cmd-kewal-krishan-kumar-arrested-in-money-laundering-case/2284305/ A forensic audit done by the bankers pointed out that the company, in its account books of financial year 2015-16, showed that its
95% Jet staff must consent to Kalrock-Jalan proposal or lose benefits | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/95-jet-staff-must-consent-to-kalrock-jalan-proposal-or-lose-benefits-121070501191_1.html Voting on the consortium’s offer for employees and workmen began on Monday and will go on till August 4 The National Company Law
How good is Sebi at recovering money? | Business Standard News
Clipped from: https://www.business-standard.com/article/markets/bs-number-wise-how-good-is-sebi-at-recovering-money-121070500151_1.html The value of notices Sebi has sent out since getting recovery powers in 2013 is more than twice Mumbai’s annual municipal budget The
Independent directors, company boards ensure checks and balance. Who gets on to them is critical to corporate governance
Clipped from: https://indianexpress.com/article/opinion/editorials/pnb-housing-finance-securities-and-exchange-board-of-india-independent-directors-7388929/ Independent directors, company boards ensure checks and balance. Who gets on to them is critical to corporate governance Unfortunately, such concerns over the
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