Clipped from: https://economictimes.indiatimes.com/news/company/corporate-trends/nclt-directs-power-distribution-firm-not-to-take-any-coercive-action-against-sterling-biotech/articleshow/82999075.cmsSynopsis Sterling Biotech’s liquidator had approached the Mumbai bench of the National Company Law Tribunal (NCLT), with a plea to restrain Madhya Gujarat Vij
Category: IBC-SEBI
Jio seeks Reliance Infratel’s forensic audit reports – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/telecom/telecom-news/jio-seeks-rel-infratels-forensic-audit-reports/articleshow/83015527.cmsSynopsis The probe, which looked at transactions between May 2017 and March 2018, found three large entries buried under hundreds of thousands of others
Games promoters play | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/games-promoters-play-121052701658_1.html If a promoter knows that he can afford not to repay loans and buy back his company in the bankruptcy court at a
Banks may target family trusts of loan guarantors – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/banks-may-target-family-trusts-of-loan-guarantors/articleshow/82985824.cms Synopsis–Many of the family trusts created by businesspeople are meant primarily to protect their assets from potential claims related to their companies, such
Banks assure homebuyers of support for Jaypee Infra resolution, not keen on liquidation – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/services/property-/-cstruction/jaypee-infratech-resolution-key-lenders-assure-homebuyers-of-best-possible-outcome/articleshow/82972879.cms SynopsisAround 20,000 home buyers have been waiting to get delivery of their homes following the Allahabad bench of the NCLT classified Jaypee Infratech
Banks may target family trusts of loan guarantors – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/banks-may-target-family-trusts-of-loan-guarantors/articleshow/82985824.cms Synopsis-Many of the family trusts created by businesspeople are meant primarily to protect their assets from potential claims related to their companies, such
New auditing rule book to ensure no repeat of IL&FS, DHFL-like fiascos – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/rbis-new-audit-norms-to-ensure-no-repeat-of-ilfs-dhfl-yes-bank/articleshow/82992690.cms Joel Rebello–Editor, The Economic TimesJoel has been a financial journalist for more than 14 years, specializing in banks. He has been with The
Revised offer for Jaypee Infratech is legally compliant, says NBCC | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/nbcc-says-its-offer-for-acquiring-jaypee-infratech-legally-compliant-121052601136_1.html At its meeting held on May 24, the Committee of Creditors (CoC) deferred the voting on Suraksha Group’s bid Jaypee Infratech State-owned NBCC,
Sebi plans to shield small investors from presumably ‘risky’ IPOs | Business Standard News
Clipped from: https://www.business-standard.com/article/markets/sebi-plans-to-shield-small-investors-from-presumably-risky-ipos-121052700005_1.html Certain initial public offers may only be for institutional investors Banning direct retail participation and mandatory “safety net” are some of the concepts
DHFL: RBI was never in favour of Wadhawan’s settlement offer – The Financial Express
lipped from: https://www.financialexpress.com/industry/banking-finance/dhfl-rbi-was-never-in-favour-of-wadhawans-settlement-offer/2259705/ RBI, in its submission at NCLT Mumbai on January 15, 2021, had said, “Affording the applicant (Kapil Wadhawan) even an opportunity of presenting
Don’t let errant promoters make mockery of IBC – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/dont-let-errant-promoters-make-mockery-of-ibc/2259687/ Lenders should not be forced to consider Wadhawan proposal, this would create a moral hazard If that came as a rude shock, the
Tough audit rules | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/tough-audit-rules-121052501692_1.html RBI must consider the concerns of financial services players About a month ago, the Reserve Bank of India (RBI) issued a circular that substantially altered
Reserve Bank of India digs in heels on auditor appointments at banks, NBFCs | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/reserve-bank-of-india-digs-in-heels-on-auditor-appointments-at-banks-nbfcs-121052600035_1.html The para banks, however, were allowed to do the change from the second half of the fiscal year. The RBI has argued that
Now, Jaypee Infratech ex-promoter offers to settle lenders’ dues – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/now-jaypee-infratech-ex-promoter-offers-to-settle-lenders-dues/article34644104.ece The firm is undergoing a debt resolution process under IBC rules With the NCLT asking lenders of DHFL to consider a settlement offer
I-T Department prescribes hybrid formula to determine FMV of capital assets in slump sale – NEWS – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/todays-paper/tp-news/article34646028.ece Budget 2021 amended the tax law on fair market value The Income Tax Department has notified rules for computation of fair market value
Appellate Tribunal sets aside NCLT order on DHFL – Today’s Paper – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/todays-paper/article34645979.ece With the National Company Law Appellate Tribunal (NCLAT) setting aside an order of the National Company Law Tribunal (NCLT) directing the lenders of
Defer auditor appointment by at least two years: CII tells RBI – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/national/defer-auditor-appointment-by-at-least-two-years-cii-tells-rbi/article34627470.ece Phase-wise implementation of norms will ensure better compliance, suggests industry chamber A significant policy measure such as this should not be applied retrospectively
RBI’s norms pit Indian auditors against MNCs – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/rbis-norms-pit-indian-auditors-against-mncs/articleshow/82919795.cmsSynopsis On April 27, the central bank had issued guidelines for appointment of statutory auditors in commercial banks, non-banking financial companies and housing finance
Concept of joint audit has worked very well: Amarjit Chopra, ex-president, ICAI – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/services/consultancy-/-audit/concept-of-joint-audit-has-worked-very-well/articleshow/82921510.cmsSynopsis “As per the new norms, there shall be joint audits in certain entities beyond a threshold. Can having two auditors or more instead
How to improve corporate governance – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/how-to-improve-corporate-governance/article34635949.ece Rather than introduce more regulations, SEBI must tweak the norms depending on a company’s track record Corporate governance, as a topic, gained importance
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