Clipped from: https://www.thehindubusinessline.com/news/real-estate/ibbi-unlocks-stalled-homes-possession-now-possible-during-insolvency/article69184083.ece In a game-changing move, homebuyers can now take possession of their properties while insolvency proceedings continue, ending years of uncertainty. In a big
Category: IBC-SEBI
*IBC cases slow down as banks reconsider recovery approach – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/ibc-cases-slow-down-as-banks-reconsider-recovery-approach/article69136006.ece Extended delays erode NPA values, forcing banks to reassess the mechanism The Insolvency and Bankruptcy Code (IBC), once hailed as a transformative resolution mechanism,
*******Course correction – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/course-correction/article69085267.ece Decline in market turnover, a good sign Recent data on trading volumes in the equity cash and derivatives segment of the stock market
👍NPA cases referred for resolution, amount involved drop in 2023-24 | News – Business Standard
Clipped from: https://www.business-standard.com/industry/news/npa-cases-referred-for-resolution-amount-involved-drop-in-2023-24-124122600989_1.html As a result, the amount involved and the amount recovered in absolute terms was also lower than the amount involved and recovered in
Petition u/s 9 of IBC couldn’t be rejected on grounds of raising fake claim of Pre-Existing dispute
Clipped from: https://taxguru.in/corporate-law/petition-u-s-9-ibc-rejected-grounds-raising-fake-claim-pre-existing-dispute.html Romi Datta Vs Sigma Supply Chain Solutions Pvt. Ltd. (NCLAT Delhi) Conclusion: Adjudicating Authority didn’t commit any error in holding that all requisite conditions
IBC reform needs to strike fine balance – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/ibc-reform-needs-to-strike-fine-balance/article68996878.ece Creditor-in-control model may need to be fine-tuned to make it a bit more debtor-friendly Since the introduction of the Insolvency and Bankruptcy Code
Resolution plan once approved cannot be changed post arbitration proceedings
Clipped from: https://taxguru.in/corporate-law/resolution-plan-approved-changed-post-arbitration-proceedings.html Yes Bank Limited Vs Katerra India Private Limited (NCLT Bengaluru) NCLT Bengaluru held that once the Resolution Plan is approved, no claim that
Application u/s. 9 of IBC rejected as performance pay cannot be taken as operational debt: NCLAT Chennai
Clipped from: https://taxguru.in/company-law/application-u-s-9-ibc-rejected-performance-pay-operational-debt-nclat-chennai.html M Ramakanth Vs Nagarjuna Fertiliser and Chemicals Limited (NCLAT Chennai) NCLAT Chennai held that claim raised by operational creditor towards performance pay cannot
NCLAT Holds Written Agreement Not Mandatory To Prove Financial Debt When Other Materials On Record are Available
Clipped from: https://www.taxscan.in/written-agreement-not-mandatory-to-prove-financial-debt-when-other-materials-on-record-are-available-nclat/464813/ The New Delhi bench of the National Company Law Appellate Tribunal (NCLAT) has ruled that it is not necessary for financial debt to
NCLAT Holds Declaration Of Loan Account/ Debt As NPA Can Be Considered As Date Of Default To File Petition U/S 7 Of IBC
Clipped from: https://www.taxscan.in/declaration-of-loan-account-as-npa-can-be-considered-as-date-of-default-to-file-petition-u-s-7-of-ibc-nclat-rules-in-favour-of-ubi/464877/ In a ruling in favour of Union Bank of India (UBI), the New Delhi bench of the National Company Law Appellate Tribunal (NCLAT) has held that date of declaration
India needs a tailored Group Insolvency framework, says IBBI Chief – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/india-needs-a-tailored-group-insolvency-framework-says-ibbi-chief/article68962151.ece Ravi Mital emphasises the urgency for dedicated provisions under IBC, highlighting gaps despite NCLT’s case-by-case interventions India must go in for a specific
👌👌👌👌👌Homebuyers grappling with stalled projects find limited relief from inclusion in insolvency proceedings
Homebuyers grappling with stalled projects find limited relief from inclusion in insolvency proceedings For homebuyers hit by stalled real estate projects and insolvent developers, the
Committee of Creditors performance ‘lacking’, should enforce a code of conduct: RBI Dy Gov Rao | Business News – The Indian Express
Clipped from: https://indianexpress.com/article/business/committee-of-creditors-code-of-conduct-rbi-deputy-governor-m-rajeshwar-rao-9711798/ The Insolvency and Bankruptcy Board of India (IBBI) should enforce a code of conduct for the Committee of Creditors (CoC), as their performance
👌👌👌👌👌Two stock markets in one: An unexplained anomaly not seen before
Clipped from: https://www.business-standard.com/opinion/columns/two-stock-markets-in-one-an-unexplained-anomaly-not-seen-before-124120100724_1.html Bank credit is not growing because companies are still focused on deleveraging their balance sheets, while higher interest cost is squeezing the net
Can you use your spouse’s mobile number for investing? This is what Sebi said in its latest circular
Can you use your spouse’s mobile number for investing? This is what Sebi said in its latest circular https://www.msn.com/en-in/money/technology/can-you-use-your-spouse-s-mobile-number-for-investing-this-is-what-sebi-said-in-its-latest-circular/ar-AA1vfawA?ocid=msedgntp&pc=DCTS&cvid=ea173c46415343db8d59ac3bdba277b0&ei=40 Sebi, via circular dated Dec 3,
👌👌👌Cross-border insolvency framework may not be reality anytime soon – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/cross-border-insolvency-framework-may-not-be-reality-anytime-soon/article68919707.ece MCA, however, optimistic about eventual realisation of this vision India’s aspirations for a robust cross-border insolvency framework may remain a work in progress
👌👌👌👌👌Mediation for operational creditors to cut NCLT burden: MCA – Industry News | The Financial Express
Clipped from: https://www.financialexpress.com/business/industry-mediation-for-operational-creditors-to-cut-nclt-burden-mca-3677835/ Earlier this year, an expert committee under IBBI had recommended a voluntary mediation process for OCs; and the proposed provisions are based on
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