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
Category: IBC-SEBI
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
SC order on personal guarantors thorn in the side of biz families | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/sc-order-on-personal-guarantors-thorn-in-the-side-of-biz-families-121052401569_1.html?utm_source=Spotlight&utm_medium=website&utm_campaign=Premium_11072018 Lack of clarity between legitimate succession planning and evasion is a worry, say experts Illustration: Ajay Mohanty Business families that have undertaken estate
What about limited liability, your honour? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/what-about-limited-liability-your-honour/articleshow/82917958.cmsSynopsis Limited liability played a vital role in advancing entrepreneurial risk-taking and capitalism’s creative destruction. If a person’s entire worth was at stake every
DHFL | Kapil Wadhawan: Appellate Tribunal stays Mumbai NCLT order to consider Kapil Wadhawan’s DHFL settlement offer
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/appellate-tribunal-stays-mumbai-nclt-order-to-consider-kapil-wadhawans-dhfl-settlement-offer/articleshow/82934350.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis But, this does not debar the insolvency court in Mumbai to pronounce its decision on the resolution plan submitted by the Piramal group,
NAREDCO writes to finance ministry for suspension of IBC – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/services/property-/-cstruction/naredco-writes-to-finance-ministry-for-suspension-of-ibc/articleshow/82935733.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis NAREDCO as a representative body of real estate developers had taken up the matter with the Finance Ministry, seeking adequate relief measures so
DHFL lenders appeal against NCLT order on Wadhawan offer – Today’s Paper – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/todays-paper/article34637954.ece Administrator questions timing of the order, Piramal to also file plea The Administrator and lenders to troubled Dewan Housing Finance Corporation Ltd have
Residents of World Crest Towers drag developer Lodhas to NCLT – Today’s Paper – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/todays-paper/article34637955.ece Residents of Mumbai’s World Crest World Towers, India’s tallest residential complex, have initiated bankruptcy proceedings against Macrotech Developers (erstwhile Lodha Group), among the
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