Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/creditors-to-scrap-bankruptcy-process-of-siva-industries/articleshow/82563723.cms Synopsis–The creditors, which include State Bank of India and Malaysia’s Maxis Communications Bhd, the former owner of telecom operator Aircel, have accepted Sivasankaran’s
Category: IBC-SEBI
Redefining corporate ownership: SEBI prefers ‘controlling shareholders’ to ‘promoters’ – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/markets/stock-markets/redefining-corporate-ownership-sebi-prefers-controlling-shareholders-to-promoters/article34537354.ece?homepage=true With PEs and institutions in control, difficult to identify promoter group In a move with implications for many corporate houses, market regulator SEBI
Sebi plans to ease post-IPO lock-in for promoters, amend key definition | Business Standard News
Clipped from: https://www.business-standard.com/article/markets/sebi-plans-to-ease-post-ipo-lock-in-for-promoters-amend-key-definition-121051101115_1.html Regulator mulls replacing concept of ‘promoter’ with ‘person in control’ The regulator has said the definition of “promoter” is wide-ranging and needs to
‘Pre pack resolution process has some serious pitfalls’ – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/national/pre-pack-resolution-process-has-some-serious-pitfalls/article34533196.ece?homepage=true Financial institutions may forfeit the ‘golden hours’ available for putting the entity back on track, says Bijoy Pulipra The Pre Pack Insolvency Resolution
bad debt–SBI’s Padma Nair to be NARC’s first CEO – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/sbis-padma-nair-to-be-narcs-first-ceo/articleshow/82551131.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The NARC will aggregate the bad loans and transfer them to a step-down asset management company (AMC) which will manage the assets
NCLT admits insolvency petition against textile company Sintex Industries – The Economic Times
lipped from: https://economictimes.indiatimes.com/industry/cons-products/garments-/-textiles/nclt-admits-insolvency-petition-against-textile-company-sintex-industries/articleshow/82549700.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Sintex is the largest debtor taken to the NCLT since the one year moratorium on filing fresh cases ended in March. Lenders tried
Jaypee Infra insolvency: NBCC, Suraksha submit revised bids – The Economic Times
lipped from: https://economictimes.indiatimes.com/industry/indl-goods/svs/construction/jaypee-infra-insolvency-nbcc-suraksha-submit-revised-bids/articleshow/82551233.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis New Delhi, May 11 () State-owned NBCC and Suraksha group, which are in the race to acquire Jaypee Infratech under the insolvency resolution
Sebi makes dividend distribution policy must for top 1,000 listed cos – The Economic Times
Clipped from: https://economictimes.indiatimes.com/markets/stocks/news/sebi-makes-dividend-distribution-policy-must-for-top-1000-listed-cos/articleshow/82550334.cmsSynopsis The regulator has also put in place a framework in relation to applicability, constitution and role of the Risk Management Committee (RMC) and
Near-resolution assets may not go to bad bank amid Covid-19 pandemic | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/near-resolution-assets-may-not-go-to-bad-bank-amid-covid-19-pandemic-121051100040_1.html ARC expected to be functional next month Where there is a resolution likely in one or two months, and the order of the
SEBI moves to ringfence client collateral from broker default – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/markets/stock-markets/sebi-moves-to-ringfence-client-collateral-from-broker-default/article34529490.ece Markets regulator proposes to build a mechanism for reporting, dissemination and usage of information pertaining to collateral other than securities collateral Two decades
A bit too socially restrictive, SEBI – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/a-bit-too-socially-restrictive-sebi/articleshow/82464311.cmsSynopsis The classification of eligible activities should be flexible, within limits. And, indeed, these should target underprivileged groups. However, there is no reason to
SEBI notifies relaxed norms for listing start-ups- Business today
Clipped from: https://www.businesstoday.in/current/economy-politics/sebi-notifies-relaxed-norms-for-listing-start-ups/story/438542.html The regulator has reduced the period of holding of 25 per cent of pre-issue capital of the issuer company by eligible investors to
Good start – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/opinion/editorial/good-start/article34481710.ece RBI has started on corporate governance overhaul at private banks, but the approach is piecemeal The last two years have seen crises unfolding
MCA allows more time gap between two board meetings – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/national/mca-allows-more-time-gap-between-two-board-meetings/article34473303.ece Gap may extend to 180 days against 120 days allowed earlier Resurgence of Covid-19 cases during the ongoing second wave has prompted the
‘Submit affidavit clarifying position on slots to Jet Airways’ – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/logistics/submit-affidavit-clarifying-position-on-slots-to-jet-airways/article34473883.ece Mumbai bench of NCLT writes to DGCA and the Aviation Ministry The Mumbai bench of NCLT has asked the Directorate General of Civil
Deadlines under Companies Act relaxed, late fee waived for various filings – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/deadlines-under-cos-act-relaxed-late-fee-waived-for-various-filings/articleshow/82376629.cmsSynopsis The relaxation of charge-related timelines shall apply in cases where the creation or modification of the charge falls between April 1 and May
Delhi court junks interim bail plea of Malvinder Singh in PMLA case | Business Standard News
Clipped from: https://www.business-standard.com/article/pti-stories/delhi-court-junks-interim-bail-plea-of-ex-fortis-healthcare-promoter-malvinder-singh-in-pmla-case-121050301380_1.html The accused had expressed apprehension that he may contract Covid-19 infection in the Tihar jail Malvinder Singh A court here has rejected the
Vodafone Idea: Can raise $1 billion by June, Vodafone Idea tells lenders – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/telecom/telecom-news/can-raise-1b-by-june-vodafone-idea-tells-lenders/articleshow/82360491.cmsSynopsis Separately, one of Vi’s domestic lenders, a large public-sector bank, recently extended a bank guarantee for about Rs 1,420 crore by another year,
Jet Airways resolution – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/specials/flight-plan/jet-airways-left-with-no-slots-to-revive/article34464782.ece Resolution of slot re-allotment is needed for the revival of the beleaguered airlines and the future of other carriers The weather is still
The fate of PPAs under IBC decided – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/business-laws/the-fate-of-ppas-under-ibc-decided/article34465722.ece The Supreme Court has ensured the continuance of power purchase agreements (PPA) between the power generators and the buyers In a finding that
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