Clipped from: https://www.business-standard.com/article/companies/reliance-communication-headed-for-liquidation-after-nclat-judgment-121041800877_1.html Debt resolution only after clearance of govt dues, says tribunal Anil Ambani, chairman of Reliance Communications. Anil Ambani-promoted Reliance Communications (RCom), which is now bankrupt,
Category: IBC-SEBI
The Jigsaw of Pre-Packaged Insolvency for MSMEs–tax guru
Clipped from: https://taxguru.in/corporate-law/jigsaw-pre-packaged-insolvency-msmes.html The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 was promulgated by the President on the Fourth day of April 2021. The Ordinance has been
oyo latest news: Oyo squashes rumours of bankruptcy following an NCLT order – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/services/hotels-/-restaurants/oyo-taken-to-insolvency-board-by-hyderabad-hotel/articleshow/81947043.cmsSynopsis “The creditors of Oyo Hotels & Homes are hereby called upon to submit their claims before April 15 to the interim resolution professional,”
SEBI issues notice to Fortis Healthcare subsidiary over diversion of funds – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/markets/stock-markets/sebi-issues-notice-to-fortis-healthcare-subsidiary-over-diversion-of-funds/article34337811.ece?homepage=true Former promoters Singh brothers allegedly siphoned-off ₹500 crore Leading hospital chain Fortis Healthcare (FHL) disclosed on Friday that its subsidiary, Escorts Heart Institute
Pre-packaged insolvency for small & medium firms | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/pre-packaged-insolvency-for-small-medium-firms-121041601390_1.html A notable feature of the ordinance is the pre-packaged process’ two-step voting structure Pre-packaged insolvency (or “pre-pack”) refers to the process by which
NCLAT’s dismissal of DVI appeal may pave the way for Amtek resolution | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/nclat-s-dismissal-of-dvi-appeal-may-pave-the-way-for-amtek-resolution-121041601080_1.html Amtek owes lenders Rs 12,641 cr and was on RBI’s first list of NPAs mandated for resolution under Bankruptcy Code. The DVI bid
Promoter Khaitan family ready to put funds into McNally Bharat: MD – The Economic Times
Clipped from: https://economictimes.indiatimes.com/markets/stocks/news/promoters-willing-to-infuse-funds-into-mcnally-bharat-md/articleshow/82076863.cmsSynopsis McNally Bharat is among a long list of construction companies to face the prospect of bankruptcy. However, finding buyers for such companies has
Aircel lenders, UVARCL to move Supreme Court as NCLAT bars spectrum sale – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/telecom/telecom-news/aircel-lenders-uvarcl-to-move-sc-as-nclat-bars-spectrum-sale/articleshow/82075912.cmsSynopsis The NCLAT has backed DoT’s stance that spectrum is a national asset that cannot be transferred to a third party, unless statutory dues
Change in tax structure prompted India Inc to favour buybacks again in FY21 | Business Standard News
https://www.business-standard.com/article/companies/change-in-tax-structure-prompted-india-inc-to-favour-buybacks-again-in-fy21-121041400874_1.html In 2020-21, Indian firms offered to buy back shares worth Rs 39,295 crore, or 97% more than Rs 19,972 cr proposed in the previous
SEBI may question Franklin MF on ‘missing’ ₹304 cr – The Hindu BusinessLine
https://www.thehindubusinessline.com/markets/stock-markets/sebi-may-question-franklin-mf-on-missing-304-cr/article34320470.ece Regulator already probing fund house for alleged fraud, unfair trade practices
Legality versus morality | Business Standard Column
Law and morality are often not aligned. Apart from regulations, we must consider the difficult perspective of character versus morality by exploring “behavioural corporate governance”
Related Party Transactions – Section 188 of Companies Act, 2013–TAX GURU
Clipped from: https://taxguru.in/company-law/related-party-transaction-sections-188-companies-act-2013.html How to Identify whether the proposed transaction is a Related Party Transaction u/s 188 of Companies Act, 2013 or not? 1st Stage (Preliminary
Prepack Insolvency Resolution Process Regulations notified for MSMEs–tax guru
Clipped from: https://taxguru.in/corporate-law/prepack-insolvency-resolution-process-regulations-notified-msmes.html Parliament is not in session and the President is satisfied that circumstances exist which render it necessary for him to take immediate action,
The mis-selling menace | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/the-mis-selling-menace-121041301493_1.html Sebi order on AT-1 bonds is in the right direction The Securities and Exchange Board of India (Sebi) in an order has imposed
It’s countdown to splitting CMD posts – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/its-countdown-to-splitting-cmd-posts/article34312794.ece India Inc must work towards separating the roles of the chairman and MD in right earnest to improve governance The SEBI Chairman recently
Two top lenders file petitions against McNally Bharat in NCLT – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/indl-goods/svs/engineering/two-top-lenders-file-petitions-against-mcnally-bharat-in-nclt/articleshow/82055213.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis A consortium of banks that include public sector lenders, private sector banks and foreign banks are owed around ₹4,000 crore by the company.
Insolvency and Bankruptcy Board of India sets up online platforms amid Covid curbs – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/insolvency-regulator-sets-up-online-platforms-amid-lockdown-curbs/articleshow/82053411.cmsSynopsis The move will likely unlock big opportunities amid lockdown restrictions. This will likely make life easy for both investors and lenders dealing in
Insolvency and Bankruptcy Board of India sets up online platforms amid Covid curbs – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/insolvency-regulator-sets-up-online-platforms-amid-lockdown-curbs/articleshow/82053411.cmsSynopsis The move will likely unlock big opportunities amid lockdown restrictions. This will likely make life easy for both investors and lenders dealing in
Insolvency and Bankruptcy Board of India sets up online platforms amid Covid curbs – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/insolvency-regulator-sets-up-online-platforms-amid-lockdown-curbs/articleshow/82053411.cmsSynopsis The move will likely unlock big opportunities amid lockdown restrictions. This will likely make life easy for both investors and lenders dealing in
Franklin seeks to settle probe; SEBI not seen accepting offer – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/markets/stock-markets/franklin-seeks-to-settle-probe-sebi-not-seen-accepting-offer/article34304892.ece?homepage=true Franklin Templeton Mutual Fund (FTMF) has offered to pay a fine and ‘settle’ its ongoing investigations with market regulator SEBI, sources told BusinessLine. SEBI
aniltikotekar4sme.com 