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
Category: IBC-SEBI
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
Tangled reasoning – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/tangled-reasoning/article34378329.ece The NCLAT ruling on clearing spectrum dues is full of contradictions The National Company Law Appellate Tribunal’s (NCLAT’s) ruling on ownership of spectrum
Rational Expectations: Another pyrrhic telecom victory – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/rational-expectations-another-pyrrhic-telecom-victory/2237615/ The NCLAT verdict on spectrum is a big win for govt but it hits govt-owned banks, yet another example of poor policy The
SC stays proceedings before Delhi HC in Amazon Future case – RELIANCE FUTURE RETAIL CASE: The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/services/retail/sc-stays-further-proceedings-in-amazon-future-reliance-case/articleshow/82142343.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Amazon had moved the apex court on April 8 challenging the Delhi High Court’s division bench order that had vacated a stay on
Rethinking the role, liability of independent directors – The Hindu BusinessLine–*****
Clipped from: https://www.thehindubusinessline.com/business-laws/rethinking-the-role-liability-of-independent-directors/article34352816.ece Neutrality and professional repute can give a board a new paradigm of thinking through an ‘independent director’. The Board of Directors is in
Two years since it stopped flying, Jet Airways awaits NCLT clearance – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/two-years-since-it-stopped-flying-jet-airways-awaits-nclt-clearance/article34349309.ece “I am hoping we won’t see a third anniversary of Jet’s grounding within the next three to four months,” says Ashish Chhawcharria, the
Amtek Auto resolution takes new twist – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/amtek-auto-resolution-takes-new-twist/article34352747.ece NCLAT has dismissed the petition and has imposed a penalty of ₹1 lakh on DVI NCLAT has dismissed the petition and has imposed
Individual CAs/firms cannot retain two consecutive audit rotation cycles – The Hindu BusinessLine–*****
lipped from: https://www.thehindubusinessline.com/companies/individual-casfirms-cannot-retain-two-consecutive-audit-rotation-cycles/article34352425.ece?homepage=true A proprietary CA firm or an individual chartered accountant will no longer find it easy to retain the audit mandate in a company
Lenders, govt staring at ₹96,389-cr haircut post NCLAT ruling on spectrum sale by IBC firms – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/info-tech/nclat-ruling-on-spectrum-lenders-government-stare-at-96389-cr-npa/article34349792.ece?homepage=true Earlier, NCLAT ruled that telecom companies under insolvency proceedings can sell spectrum only after clearing of Government dues. The lenders to telecom companies
Your Money: What profit before and after tax tells about a firm – The Financial Express
lipped from: https://www.financialexpress.com/money/your-money-what-profit-before-and-after-tax-tells-about-a-firm/2234683/ PBT & PAT are the line items of interest for equity investors to assess the attractiveness of the stocks Total revenue is the
Reliance Communication headed for liquidation after NCLAT judgment | Business Standard News
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,
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
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