Clipped from: https://economictimes.indiatimes.com/blogs/et-editorials/welcome-move-for-pre-packed-resolution/ET Edit Quick takes, analyses and macro-level views on all contemporary economic, financial and political events. The government has done well to allow pre-packaged
Category: IBC-SEBI
NCLAT stays insolvency proceedings against OYO – The Financial Express
Clipped from: https://www.financialexpress.com/industry/sme/nclat-stays-insolvency-proceedings-against-oyo/2229581/ “Today (Thursday) NCLAT has admitted our plea and ordered a stay for the formation of CoC in IBC proceedings against OHHPL, an OYO
Is the IBC a panacea or poison? – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/write-back-is-the-ibc-a-panacea-or-poison/2229699/ As we move along, it is important to bring attitudinal changes in the way creditors perceive the IBC One should not get dissuaded
Companies mandates to use software with audit trail of each transaction–tax guru
lipped from: https://taxguru.in/company-law/companies-mandates-use-software-audit-trail-each-transaction.html Companies (Accounts) Amendment Rules, 2021 MCA has vide its notification dated 24.03.2021 (Companies (Accounts) Amendment Rules, 2021) notifies that for the financial year commencing on
IIFL Securities begins activation of 11 lakh frozen Karvy accounts – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/markets/stock-markets/iifl-securities-begins-activation-of-11-lakh-frozen-karvy-accounts/article34263460.ece Accounts of Karvy’s 11 lakh investors have been frozen for over a year IIFL Securities on Wednesday said it has begun activation of
Pre-pack scheme for MSMEs will bring down costs, lead to faster resolution of cases–indian express
Clipped from: https://indianexpress.com/article/opinion/editorials/msme-pre-pack-scheme-insolvency-and-bankruptcy-ilc-7261749/ Pre-pack scheme for MSMEs will bring down costs, lead to faster resolution of cases. In line with recommendations of the sub-committee of the
No, not bankruptcy! Oyo insolvency admitted by NCLT for Rs 16 lakh dispute–business today
Clipped from: https://www.businesstoday.in/current/corporate/no-not-bankruptcy-oyo-insolvency-admitted-by-nclt-for-rs-16-lakh-dispute/story/435960.html Oyo Founder and CEO Ritesh Agarwal has dismissed rumours that Oyo has filed for bankruptcy Oyo Founder and CEO Ritesh Agarwal A fresh
Despite efforts, independent directors not entirely independent: SEBI chief – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/despite-efforts-independent-directors-not-entirely-independent-sebi-chief/article34256886.ece Despite the many efforts, SEBI has not been able to ensure that all independent directors act without the influence of promoters to protect
IBC in the slow lane: CIRP cases decline almost 12%, shows IBBI data | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/ibc-in-the-slow-lane-cirp-cases-decline-almost-12-shows-ibbi-data-121040601392_1.html New corporate insolvency being at halt reflected in the continuing drop in the number of ongoing corporate resolution cases in the October-December period
Split roles of chairperson, MD and CEO before Apr 2022 deadline: Sebi to listed cos – The Economic Times
Clipped from: https://economictimes.indiatimes.com/markets/stocks/news/separation-of-cmd-roles-not-aimed-at-weakening-promoters-position-ajay-tyagi/articleshow/81928566.cmsSynopsis Listed entities were initially required to separate the roles of chairperson and MD/CEO from April 1, 2020 onwards. However, based on industry representations,
Insolvency relief period over, govt brings in Ordinance for MSME pre-packs | Business News,The Indian Express
Clipped from: https://indianexpress.com/article/business/banking-and-finance/insolvency-relief-period-over-govt-brings-in-ordinance-for-msme-pre-packs-7260454/ The move comes soon after the end of a one-year suspension of insolvency initiation under the Insolvency and Bankruptcy Code (IBC) imposed by
Pre-pack is ‘liquidation-remote resolution mechanism’, says IBBI chief – The Financial Express
Clipped from: https://www.financialexpress.com/industry/sme/pre-pack-is-liquidation-remote-resolution-mechanism-says-ibbi-chief/2228140/ The pre-pack framework for stressed assets under the insolvency law is a “liquidation-remote resolution mechanism” and will also help in avoiding protracted legal
MSME Prepack report Oct 2020
Pre-Pack-Comments.pdf
MSME: IBC amendment seeks to provide prepack resolutions for MSMEs – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/legal/ibc-amendment-seeks-to-provide-prepack-resolutions-for-msmes/articleshow/81924148.cmsSynopsis Alternative framework expected to bring about quicker, more cost-effective resolution process. NEW DELHI: The government has amended the Insolvency & Bankruptcy Code to
Insolvency ordinance: Govt amends Insolvency and Bankruptcy Code, brings in ‘pre-pack’ resolution scheme for MSMEs – The Financial Express
Clipped from: https://www.financialexpress.com/industry/sme/insolvency-ordinance-govt-amends-insolvency-and-bankruptcy-code-brings-in-pre-pack-resolution-scheme-for-msmes/2227440/ New scheme to yield faster resolution, cut costs and reduce litigation The scheme, where only the debtor will get to trigger the bankruptcy
Pre-pack insolvency for MSMEs now a reality – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/national/pre-pack-insolvency-for-msmes-now-a-reality/article34246885.ece Centre issues Ordinance; debt default threshold to be notified The Centre has taken the Ordinance route to introduce pre-packaged insolvency resolution process (pre-pack)
IBC ordinance allows prepack for MSMEs, eases resolution with minimum pain | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/ibc-ordinance-allows-prepack-for-msmes-eases-resolution-with-minimum-pain-121040500720_1.html Ordinance is designed to ensure quicker, cost-effective and value maximising outcomes for all stakeholders in a manner that least disrupts their businesses and
Pre-pack problems | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/pre-pack-problems-121040501240_1.html MSME Ordinance violates basic principle of IBC The government has decided that a “pre-packaged” resolution process for micro, small, and medium enterprises (MSMEs)
Centre promulgates IBC amendment ordinance to allow pre-packaged insolvency for MSMEs – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/legal/centre-promulgates-ibc-amendment-ordinance-to-allow-pre-packaged-insolvency-for-msmes/articleshow/81909630.cmsSynopsis A pre-packaged resolution essentially translates to a company preparing a restructuring plan with its creditors before initiating insolvency proceedings. This helps to cut
Government amends insolvency law; introduces pre-packaged resolution process for MSMEs | Business News,The Indian Express
Clipped from: https://indianexpress.com/article/business/banking-and-finance/government-amends-insolvency-law-introduces-pre-packaged-resolution-process-for-msmes-7259484/ An ordinance was promulgated to amend the Insolvency and Bankruptcy Code (IBC) on April 4, according to a notification. As per the ordinance,
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