Clipped from: https://www.taxscan.in/written-agreement-not-mandatory-to-prove-financial-debt-when-other-materials-on-record-are-available-nclat/464813/ The New Delhi bench of the National Company Law Appellate Tribunal (NCLAT) has ruled that it is not necessary for financial debt to
Category: IBC-SEBI
NCLAT Holds Declaration Of Loan Account/ Debt As NPA Can Be Considered As Date Of Default To File Petition U/S 7 Of IBC
Clipped from: https://www.taxscan.in/declaration-of-loan-account-as-npa-can-be-considered-as-date-of-default-to-file-petition-u-s-7-of-ibc-nclat-rules-in-favour-of-ubi/464877/ In a ruling in favour of Union Bank of India (UBI), the New Delhi bench of the National Company Law Appellate Tribunal (NCLAT) has held that date of declaration
India needs a tailored Group Insolvency framework, says IBBI Chief – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/india-needs-a-tailored-group-insolvency-framework-says-ibbi-chief/article68962151.ece Ravi Mital emphasises the urgency for dedicated provisions under IBC, highlighting gaps despite NCLT’s case-by-case interventions India must go in for a specific
👌👌👌👌👌Homebuyers grappling with stalled projects find limited relief from inclusion in insolvency proceedings
Homebuyers grappling with stalled projects find limited relief from inclusion in insolvency proceedings For homebuyers hit by stalled real estate projects and insolvent developers, the
Committee of Creditors performance ‘lacking’, should enforce a code of conduct: RBI Dy Gov Rao | Business News – The Indian Express
Clipped from: https://indianexpress.com/article/business/committee-of-creditors-code-of-conduct-rbi-deputy-governor-m-rajeshwar-rao-9711798/ The Insolvency and Bankruptcy Board of India (IBBI) should enforce a code of conduct for the Committee of Creditors (CoC), as their performance
👌👌👌👌👌Two stock markets in one: An unexplained anomaly not seen before
Clipped from: https://www.business-standard.com/opinion/columns/two-stock-markets-in-one-an-unexplained-anomaly-not-seen-before-124120100724_1.html Bank credit is not growing because companies are still focused on deleveraging their balance sheets, while higher interest cost is squeezing the net
Can you use your spouse’s mobile number for investing? This is what Sebi said in its latest circular
Can you use your spouse’s mobile number for investing? This is what Sebi said in its latest circular https://www.msn.com/en-in/money/technology/can-you-use-your-spouse-s-mobile-number-for-investing-this-is-what-sebi-said-in-its-latest-circular/ar-AA1vfawA?ocid=msedgntp&pc=DCTS&cvid=ea173c46415343db8d59ac3bdba277b0&ei=40 Sebi, via circular dated Dec 3,
👌👌👌Cross-border insolvency framework may not be reality anytime soon – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/cross-border-insolvency-framework-may-not-be-reality-anytime-soon/article68919707.ece MCA, however, optimistic about eventual realisation of this vision India’s aspirations for a robust cross-border insolvency framework may remain a work in progress
👌👌👌👌👌Mediation for operational creditors to cut NCLT burden: MCA – Industry News | The Financial Express
Clipped from: https://www.financialexpress.com/business/industry-mediation-for-operational-creditors-to-cut-nclt-burden-mca-3677835/ Earlier this year, an expert committee under IBBI had recommended a voluntary mediation process for OCs; and the proposed provisions are based on
IBBI suspends IP for failing to act in homebuyers’ interest during CIRP
Clipped from: https://taxguru.in/corporate-law/ibbi-suspends-ip-failing-act-homebuyers-interest-cirp.html The Insolvency and Bankruptcy Board of India (IBBI) Disciplinary Committee issued Order No. IBBI/DC/252/2024 on November 22, 2024, addressing Show Cause Notice (SCN)
IBBI proposes to make monitoring committee mandatory for all resolution plans – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/ibbi-proposes-to-make-monitoring-committee-mandatory-for-all-resolution-plans/article68894903.ece The proposed framework empowers the CoC to take the final decision on the constitution, composition, and functioning period of the monitoring committee, as
Reimagining NCLT – Opinion News | The Financial Express
https://www.financialexpress.com/opinion/reimagining-nclt/3669579/?ref=hometop_hp The 2010 Madras High Court Bar Association judgment needs a review to allow appointments to economic law tribunals to be made differently than traditional
IBBI moves to tighten auction rules, mandates stakeholder oversight in liquidations – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/ibbi-moves-to-tighten-auction-rules-mandates-stakeholder-oversight-in-liquidations/article68886786.ece Also need to maintain Corporate Liquidation Account within Public Accounts of India to be dispensed with; IBBI floats discussion paper, public comments invited
From deep haircuts to higher recoveries – Opinion News | The Financial Express
https://www.financialexpress.com/opinion/from-deep-haircuts-to-higher-recoveries/3663489/?ref=opinion_hp The Delhi High Court’s recent direction to the Insolvency and Bankruptcy Board of India (IBBI) to frame a code of conduct for the CoC
MSME insolvency: Pre-pack scheme sees only 13 applications admitted since 2021 – SME News | The Financial Express
Clipped from: https://www.financialexpress.com/business/sme-msme-insolvency-pre-pack-scheme-sees-only-13-applications-admitted-since-2021-3662971/ Out of the admitted cases, one has been withdrawn, resolution plans for five others have been approved and seven cases are ongoing. The
Take recovery from ‘avoidance transactions’ seriously, IBBI tells creditors. – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/take-recovery-from-avoidance-transactions-seriously-ibbi-tells-creditors/article68860387.ece Recovery for creditors could go up at least 10 per cent on such approach, says IBBI Chief Mital; Till Sep 2024, total clawback on
SC ruling brings NCLT under-staffing to the fore – Industry News | The Financial Express
Clipped from: https://www.financialexpress.com/business/industry-sc-ruling-brings-nclt-under-staffing-to-the-fore-3660192/ The MCA had floated consultation paper for changes in Insolvency and Bankrutpcy Code (IBC) in 2023 but none of the changes have been
👌👌👌👌👌IBBI pushes for land authorities to join CoC meetings in real estate insolvency cases – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/real-estate/ibbi-pushes-for-land-authorities-to-join-coc-meetings-in-real-estate-insolvency-cases/article68841920.ece Releases discussion paper to revamp real estate insolvency, addressing seven key areas Insolvency regulator IBBI has come up with slew of proposals to improve real
👌👌👌👌👌Mediation route for operational creditors prior to NCLT process – Industry News | The Financial Express
Clipped from: https://www.financialexpress.com/business/industry-mediation-route-for-operational-creditors-prior-to-nclt-process-3657257/ Under IBC, once an application for initiation of CIRP is filed in the National Company Law Tribunal (NCLT), the latter is mandated to
👌SEBI outsources arbitration, but at what cost? – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/effects-of-sebi-outsourcing-arbitration/article68829245.ece The arbitrators who were previously assigned arbitration work are now being assigned conciliation work as well, albeit with a lower fee SEBI has
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