Clipped from: https://www.business-standard.com/article/opinion/no-backdoor-entry-121060801611_1.html Promoters should not be allowed to delay insolvency resolution The drama over Dewan Housing Finance Corp Ltd (DHFL) is another example of how
Category: IBC-SEBI
DHFL resolution: 63 Moons, FD holders to challenge NCLT order – The Financial Express
Clipped from: https://www.financialexpress.com/industry/dhfl-resolution-63-moons-fd-holders-to-challenge-nclt-order/2267773/ The firm wants the creditors of DHFL to receive the money, instead of the buyer (PCHFL), in case recovery happens in the alleged
Banks face ₹42,000-cr haircut as NCLT clears Vedanta firm’s ₹2,900-crore bid for Videocon – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/banks-face-42000-cr-haircut-as-nclt-clears-vedanta-firms-2900-crore-bid-for-videocon/article34763894.ece Anil Agarwal-backed company offers to pay ₹2,900 crore to lenders Banks will take a ₹42,000-crore haircut after the Mumbai Bench of the National
Insolvency and Bankruptcy Code works, but it could work better – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/insolvency-and-bankruptcy-code-works-but-it-could-work-better/articleshow/83347394.cmsSynopsis The bid amount will enable creditors to recover about 40% of the total admitted claims of around Rs 87,082 crore. The NCLT has
DHFL: 63 moons to challenge NCLT’s approval for Piramal’s resolution plan | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/dhfl-63-moons-to-challenge-nclt-s-approval-for-piramal-s-resolution-plan-121060801247_1.html 63 moons believes that the resolution plan is against interest of all DHFL’s creditors, including NCD holders 63 moons technologies, which holds around Rs
Know what investment utilisation ratios say about a firm – The Financial Express
Clipped from: https://www.financialexpress.com/money/your-queries-know-what-investment-utilisation-ratios-say-about-a-firm/2266923/ Fixed Assets Turnover is computed by dividing the revenue of a firm by its tangible fixed assets. For all the five ratios, higher
Financial creditors may realise Rs 55,000-60,000 cr through IBC in FY22: Report – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/financial-creditors-may-realise-rs-55000-60000-cr-through-ibc-in-fy22-report/articleshow/83306043.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The realisation for financial creditors from the resolution of Corporate Insolvency Resolution Process (CIRP) under the IBC declined significantly in FY2021 with a
When former biz owners try the back door – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/specials/corporate-file/when-former-biz-owners-try-the-back-door/article34745681.ece Insolvent promoters are cobbling together sweet offers to regain their empires, but what does the insolvency and bankruptcy law really say? On October
Independent directors: Sebi lesson for proxy advisers – The Economic Times
Clipped from: https://economictimes.indiatimes.com/markets/stocks/news/how-sebi-rules-will-impact-appointment-of-independent-directors/articleshow/83279572.cmsSynopsis How the SEBI consultation paper on appointment of independent directors is likely to impact recommendations by proxy advisers, as India Inc gears up
Slow and steady the way to Go, RBI – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/slow-and-steady-the-way-to-go-rbi/articleshow/83214440.cmsSynopsis IL&FS, Dewan Housing Finance, HDIL — NBFCs have put up scandalous performance, creating a climate that legitimises drastic action, even makes its absence
IBC review likely to keep promoters out – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/ibc-review-likely-to-keep-promoters-out/articleshow/83223260.cmsSynopsis The government will examine the Insolvency and Bankruptcy Code (IBC) to stop defaulting promoters from wresting back control of companies by exploiting apparent
More lenders opting for settlement offers – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/more-lenders-opting-for-settlement-offers/articleshow/83223054.cmsSynopsis Lenders to debt-laden companies are increasingly opting for negotiated settlements with the defaulting borrowers as the absence of time-bound resolutions, significant haircuts on
Can’t have auto-restoration of slots to Jet Airways: Centre tells NCLT | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/can-t-have-auto-restoration-of-slots-to-jet-airways-centre-tells-nclt-121060301091_1.html The Kalrock – Jalan consortium, who are successful resolution applicants of Jet Airways, said they were under the impression that slots and traffic
Fraud charges: Dubai-based billionaire B R Shetty to drag BoB to court | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/fraud-charges-dubai-based-billionaire-b-r-shetty-to-drag-bob-to-court-121060201664_1.html Shetty is currently in India and trying to return to Dubai to take care of his businesses, but a travel ban issued by
Banks, asset managers want RBI to allow sale of fraud loans to ARC – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/banks-asset-managers-want-rbi-to-allow-sale-of-fraud-loans-to-arc/articleshow/83176692.cmsSynopsis Stakeholders believe that since there has been negligible recovery in such fraud cases from either the bankruptcy mechanism or the DRT, allowing such
IBBI: 79% of ongoing cases unresolved for over 270 days – The Financial Express
Clipped from: https://www.financialexpress.com/industry/ibbi-79-of-ongoing-cases-unresolved-for-over-270-days/2264016/ In January-March quarter, 29 insolvency cases were successfully resolved, with creditors recovering Rs 4,600 crore out of a total claim of Rs 17,389
Kapil Wadhawan moves SC over NCLAT stay against his Rs 91,000-cr DHFL offer | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/kapil-wadhawan-moves-sc-over-nclat-stay-against-his-rs-91-000-cr-dhfl-offer-121060100852_1.html NCLAT was scheduled to hear the reply of Wadhawan on June 25, but he moved SC before that On May 25, NCLAT had
‘Watertight rules to prevent promoters’ backdoor entry might prove futile to objective of Pre-Pack scheme’ – The Financial Express
lipped from: https://www.financialexpress.com/industry/sme/cafe-sme/watertight-rules-to-prevent-promoters-backdoor-entry-might-prove-futile-to-objective-of-pre-pack-scheme/2261861/ The scheme has been notified with the idea that it is MSMEs’ prerogative to have an alternative debt resolution mechanism considering their unique
Infosys begins internal probe after SEBI order on two employees involved in insider trading – The Economic Times
Clipped from: https://economictimes.indiatimes.com/tech/information-tech/infosys-begins-internal-probe-after-sebi-order-on-two-employees-involved-in-insider-trading/articleshow/83148080.cmsSynopsis Infosys senior corporate counsel Pranshu Bhutra and senior principal Venkata Subramaniam V V were barred from accessing the securities market after investigating insider
Half the cases closed under IBC end in liquidation, only 13% resolved | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/half-the-cases-closed-under-ibc-end-in-liquidation-only-13-resolved-121053101129_1.html Haircut rises to 60% of lenders’ claims in FY21 The Indian government had launched IBC 2016 to help banks recover their dues from
