Clipped from: https://www.indialaw.in/blog/blog/banking-and-finance/the-principle-of-as-is-where-is-and-as-is-what-is-basis-in-relation-to-secured-assets-purchased-in-public-auction-under-sarfaesi-act2002/ INTRODUCTION As the Legal frame work and mechanism for curtailing and controlling mounting Non- Performing Assets (“NPA”) has become inadequate and outdated which
Category: IBC-SEBI
Tax indemnity clause leads to friction among buyers & sellers of firms | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/irritant-for-pe-players-as-m-as-face-friction-over-tax-indemnity-clause-121042901412_1.html The Centre had allowed the tax dept more time to relook at old transactions Buyers and sellers of companies are clashing over how long they
Information Utility advantage – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/information-utility-advantage/article34442461.ece Part of IBC framework, Information Utility is a boon for creditors One of the biggest challenges faced by business entities, especially the smaller
Ministry of Corporate Affairs nudges Sebi on startup listing rules – The Economic Times
Clipped from: https://economictimes.indiatimes.com/tech/startups/mca-nudges-sebi-on-startups-listing-rules/articleshow/82315977.cmsSynopsis A startup that has listed on the IGP platform can migrate to the mainboard provided the company meets several conditions, including a profit
Sebi gives more time to brokers, clearing members for compliance with rules – The Financial Express
Clipped from: https://www.financialexpress.com/market/covid-19-sebi-gives-more-time-to-brokers-clearing-members-for-compliance-with-rules/2242639/ The deadline for maintaining call recordings of orders or instructions received from clients has been extended till June 30, 2021, Sebi said in
SEBI eases compliance requirements, cos can file Q4 results till Jun 30–business today
The companies have also been given an additional month till June 30 to file their annual secretarial compliance report. SEBI also eased compliance requirement for
Promoters go for ‘asset protection trusts’ fearing default – The Economic Times
lipped from: https://economictimes.indiatimes.com/news/company/corporate-trends/promoters-go-for-asset-protection-trusts-fearing-default/articleshow/82298238.cms Synopsis–Many companies have seen profitability crash or even entire business models facing major disruption due to Covid pandemic driven demand slump. The fear
Acre ARC set to purchase Indiabulls assets – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/acre-arc-set-to-purchase-indiabulls-assets/articleshow/82310813.cmsSynopsis The deal is yet another attempt by the Sameer Gehlaut-led Indiabulls Group to shed capital-intensive assets as it moves to a new business
Jaypee Infratech insolvency: NBCC sweetens bid, to offer up to 1,903 acres land to lenders – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/services/property-/-cstruction/jaypee-infratech-insolvency-nbcc-sweetens-bid-to-offer-up-to-1903-acres-land-to-lenders/articleshow/82315910.cmsSynopsis Earlier this month, NBCC and Mumbai-based Suraksha group submitted their fresh bids to acquire Jaypee Infratech through the insolvency process, as per the
Upholding the ‘right of refusal’ – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/business-laws/upholding-the-right-of-refusal/article34239257.ece A general understanding of the ‘Right of first refusal’ and the power of the Board to refuse registration of transfer could be gained
SC extends limitation period for filing of cases/appeals till further orders : The Tribune India
lipped from: https://www.tribuneindia.com/news/nation/sc-extends-limitation-period-for-filing-of-cases-appeals-till-further-orders-244912 Satya Prakash Tribune News Service New Delhi, April 27 As second wave of COVID-19 hits India, the Supreme Court on Tuesday extended the
Pre-institution mediation, abolishing IP Appellate Board to help MSMEs with speedy justice: Law ministry – The Financial Express
Clipped from: https://www.financialexpress.com/industry/sme/pre-institution-mediation-abolishing-ip-appellate-board-to-help-msmes-with-speedy-justice-law-ministry/2240639/ Ease of Doing Business for MSMEs: The government had promulgated an ordinance on April 4, 2021, to abolish five appellate tribunals including the
Police book Indiabulls promoters, directors; firm moves court to quash FIR | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/police-book-indiabulls-promoters-directors-firm-moves-court-to-quash-fir-121042700022_1.html The Enforcement Directorate (ED) is learnt to have reached out to the police team seeking details of the case, a senior official confirmed
Blow to Uday Kotak as RBI caps tenure of bank founders, CEOs – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/blow-to-uday-kotak-as-rbi-caps-tenure-of-bank-founders-ceos/articleshow/82259687.cmsSynopsis “While examining the matter of re-appointment of such MD&CEOs or WTDs within the 12-15 years period, the level of progress and adherence to
India Inc may have to keep date with filings as Sebi cites partial lockdown | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/india-inc-may-have-to-keep-date-with-filings-as-sebi-cites-partial-lockdown-121042600038_1.html Auditors struggle with Covid, but no extension likely for FY21 earnings reports At present, listed companies are required to file their fourth quarter
63Moons moves NCLT against Piramal ascribing ₹1 value to DHFL’s ‘recoverable’ assets – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/markets/stock-markets/63moons-moves-nclt-against-piramal-ascribing-1-value-to-dhfls-recoverable-assets/article34407627.ece 63Moons Technologies has dragged Piramal Capital and Housing Finance to the National Company Law Tribunal (NCLT) for ascribing ‘₹1’ value to the assets
IBC mechanism ready to take up cases after a year-long hiatus | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/statsguru-ibc-mechanism-ready-to-take-up-cases-after-a-year-long-hiatus-121032800774_1.html As many as 1,942 cases are currently going on under the Code (as of September 2020) A summary analysis of about 280 resolutions
BoM aims to resolve 20-25 stressed MSME loans under pre-packaged resolution process – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/bom-aims-to-resolve-20-25-stressed-msme-loans-under-pre-packaged-resolution-process/articleshow/82226964.cmsSynopsis Earlier this month, the government had introduced a pre-packaged insolvency resolution process for stressed MSMEs by amending the insolvency law. MUMBAI: State-ownedBank of
SEBI wants rights issue refunds to be fast-tracked – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/markets/stock-markets/sebi-wants-rights-issue-refunds-to-be-fast-tracked/article34395414.ece Extends relaxation in procedures till September-end The Securities and Exchange Board of India (SEBI) has issued guidelines to fast-track refund for un-allotted and
Rights issue: New guidelines put in place on refund of un-allotted, partially allotted applications – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/markets/stock-markets/rights-issue-new-guidelines-put-in-place-on-refund-of-un-allotted-partially-allotted-applications/article34386575.ece The refund for un-allotted/partial allotted application has to be completed on or before T+1 day Markets regulator Sebi on Thursday came out with
