Clipped from: https://www.business-standard.com/article/finance/ray-of-hope-for-pmc-depositors-as-centrum-roped-in-for-revival-121061801528_1.html However, restrictions to continue for a while till Centrum gets the final approval PMC Bank sources said it will take another three months
Category: IBC-SEBI
RBI has given us 120 days to operationalise SFB: Centrum’s Jaspal Bindra | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/we-have-been-given-120-days-time-by-rbi-to-operationalize-the-bank-121061801711_1.html In an exclusive interview with Business Standard, Jaspal Bindra, executive chairman of Centrum group said it has committed Rs 1,800 cr capital to
Protecting IBC’s spirit: NCLT focus on confidentiality clause in Videocon Industries resolution welcome – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/protecting-ibcs-spirit-nclt-focus-on-confidentiality-clause-in-videocon-industries-resolution-welcome/2273504/ The VIL-Twin Star case draws attention to the fact that creditors, at times, are realising pitifully small amounts—in the Alok Industries case, where
Yes Bank news: YES Bank removes fraud tag on Avantha Holdings after forensic audit – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/yes-bank-removes-fraud-tag-on-avantha-holdings-after-forensic-audit/articleshow/83625913.cmsSynopsis The bank had red-flagged the account to the Reserve Bank of India (RBI) after the Thapar group company defaulted on a loan that
Patience, competence must in resolution – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/patience-competence-must-in-resolution/articleshow/83613845.cmsSynopsis To achieve the public policy goal of maximising the value realised from resolution, patience and hard work are called for. The present system
Protecting IBC’s spirit: NCLT focus on confidentiality clause in Videocon Industries resolution welcome – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/protecting-ibcs-spirit-nclt-focus-on-confidentiality-clause-in-videocon-industries-resolution-welcome/2273504/ The VIL-Twin Star case draws attention to the fact that creditors, at times, are realising pitifully small amounts—in the Alok Industries case, where
Key obstacle removed with Yes Bank, Axis green signal to RCap’s asset sale | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/key-obstacle-removed-with-yes-bank-axis-green-signal-to-rcap-s-asset-sale-121061700858_1.html The two banks are jointly owed Rs 1,575 cr and had objected to the sale unless their dues are paid. Yes Bank recently
Jet Airways shareholders reject FY19 and FY20 accounts ahead of NCLT ruling | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/jet-airways-shareholders-reject-fy19-and-fy20-accounts-ahead-of-nclt-ruling-121061701203_1.html Institutional investors lead rejection brigade as Naresh Goyal abstains; proposal to appoint Sharp and Tannan as statutory auditors approved Shareholders of Jet Airways have rejected the
NCLT raises doubt over confidentiality of liquidation valuation of Videocon – The Economic Times
Clipped from: https://economictimes.indiatimes.com/markets/companies/nclt-raises-doubt-over-confidentiality-of-liquidation-valuation-of-videocon/articleshow/83574971.cmsSynopsis The liquidation value of Videocon Industries and its 12 group companies was Rs 2,568.13 crore and fair value of the assets was Rs
MCA amends board meeting rules to permanently allow virtual resolutions on financial statements, restructuring – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/mca-amends-board-meeting-rules-to-permanently-allow-virtual-resolutions-on-financial-statements-restructuring/articleshow/83576768.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis ET had first reported in January on the government’s intention to make certain pandemic-induced relaxations permanent such as allowing virtual annual general meetings
Acuité Ratings and CARE Ratings come together to set up Association of Indian Rating Agencies – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/acuit-ratings-and-care-ratings-come-together-to-set-up-association-of-indian-rating-agencies/article34819955.ece AIRA, incorporated as a Section 8 (not-for-profit) company, is expected to work closely with the regulator and the government for development of debt
Voting on bids for Reliance Home Finance extended, Authum Investment and Infrastructure may be frontrunner – The Financial Express
Clipped from: https://www.financialexpress.com/industry/voting-on-bids-for-reliance-home-finance-extended-authum-investment-and-infrastructure-may-be-frontrunner/2271995/ The voting was earlier scheduled to be completed by 5 PM on Tuesday. The other bidders for the company include Capri Global Capital,
Time to end personal guarantees for loans – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/time-to-end-personal-guarantees-for-loans/articleshow/83551524.cmsSynopsis The reason why personal guarantees seem so normal in India is the way businessmen have, in the past, padded project costs, got overly
India Inc faces delay in its M&A, restructuring proposals, as NCLT grapples with Covid-19 related restrictions – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/company/corporate-trends/india-inc-faces-delay-in-its-ma-restructuring-proposals-as-nclt-grapples-with-covid-19-related-restrictions/articleshow/83552084.cmsSynopsis The short-staffed adjudicating authority is currently hearing only emergency matters due to Covid-19 related restrictions. These matters include cases related to time-bound Insolvency
Freezing of 3 FPI ACs not related to Adani Group, clarifies NSDL – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/freezing-of-3-fpi-acs-not-related-to-adani-group-clarifies-nsdl/article34824383.ece The National Share Depository Ltd (NSDL) on Tuesday clarified that the freezing of the accounts of the three foreign funds — Albula Investment
NSDL statement prevents a $500-million sell-off in Adani group stocks | Business Standard News
Clipped from: https://www.business-standard.com/article/markets/nsdl-statement-prevents-a-500-million-sell-off-in-adani-group-stocks-121061501625_1.html Analysts said a freeze of the FPI accounts, as reported by some media outlets, could have prompted global index providers to cut weighting
Vedanta arm is paying almost nothing for Videocon group, says NCLT | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/vedanta-arm-is-paying-almost-nothing-for-videocon-group-says-nclt-121061600048_1.html Expresses surprise that Twin Star’s bid was so close to liquidation value Videocon Industries, saddled with a debt of Rs 35,000 crore, was
With Adani saying FPI ACs not frozen, ball in SEBI, NSDL court – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/with-adani-saying-fpi-acs-not-frozen-ball-in-sebi-nsdl-court/article34815638.ece Adani Group stocks tumble up to 25% With the Adani Group insisting that the demat accounts of the three foreign portfolio investors (FPIs)
Your Money: Of preferred shares and their many variants – The Financial Express
Clipped from: https://www.financialexpress.com/money/your-money-of-preferred-shares-and-their-many-variants/2271381/ The category of preferred shares which require the carry forward of unpaid dividends are called cumulative preferred shares. In the case of non-cumulative
Rating companies form umbrella organisation in a first – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/company/corporate-trends/rating-companies-form-umbrella-organisation-in-a-first/articleshow/83515227.cmsSynopsis This is the first time that such a self-regulatory body has been formed for rating agencies, like the ones for the mutual fund
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