Clipped from: https://www.thehindubusinessline.com/companies/mca-sets-annual-remuneration-limits-for-firms-in-red/article34111464.ece The limits also apply to independent directors of public firms; move seen benefitting start-ups, unicorns Public companies can now remunerate their non-executive directors,
Category: IBC-SEBI
NCLT expected to witness surge in insolvency cases – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/nclt-expected-to-witness-surge-in-insolvency-cases/articleshow/81591411.cmsSynopsis The Ministry of Corporate Affairs will unlikely extend the one-off relaxation next week with India fast regaining business normalcy and ranking among the
Loss-making cos can now pay remuneration to non-executive directors – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/company/corporate-trends/loss-making-cos-can-now-pay-remuneration-to-non-executive-directors/articleshow/81590650.cmsSynopsis The remuneration limits will be one-fifth of the total amount that can be given to managerial persons or executive directors, according to a
MCA permits remuneration to independent directors in case of loss made by companies – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/mca-permits-remuneration-to-independent-directors-in-case-of-loss-made-by-companies/articleshow/81588634.cmsSynopsis Amending schedule V of the Act, the MCA also prescribed limits on such remuneration based on the effective capital of the firm, which
Piramal Capital reduces share of short-term borrowings – The Economic Times
Clipped from: https://economictimes.indiatimes.com/markets/stocks/news/piramal-capital-reduces-share-of-short-term-borrowings/articleshow/81637771.cmsSynopsis Short term borrowings now form just about 15-20 percent of total borrowings of the financial services business under Piramal Enterprises, compared with 60-70
Changes in tax norms on slump sale deals may lead to litigation for firms | Business Standard News
lipped from: https://www.business-standard.com/article/companies/changes-in-tax-norms-on-slump-sale-deals-may-lead-to-litigation-for-firms-121032500988_1.html Changes will impact several M&A transactions, including internal restructuring by companies which were signed since April 2020. Tax computation will not include goodwill
Normalcy restored for resolution of stress under IBC: Sahoo – The Financial Express
Clipped from: https://www.financialexpress.com/industry/normalcy-restored-for-resolution-of-stress-under-ibc-sahoo/2220239/ IBBI Chairperson M S Sahoo on Thursday said “normalcy” has been restored with respect to resolution of stress under the insolvency law, with
Is Ease of Doing Business ranking over-rated? – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/columns/is-ease-of-doing-business-ranking-over-rated/article34162842.ece A top rank without infrastructure, connectivity, skilled manpower and lower cost of production is of no use to the investor In recent years,
SEBI eases listing norms to help start-ups attract big investors – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/sebi-eases-norms-to-encourage-listing-of-start-ups/article34161073.ece?homepage=true Revamps open-offer provisions, tweaks rules to make de-listing more transparent SEBI on Thursday announced a slew of measures including making it easier for
Welcome back, IBC | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/welcome-back-ibc-121032501441_1.html Govt should now focus on strengthening the NCLT The government has done well not to extend the Insolvency and Bankruptcy Code (IBC) suspension, which ended
ArcelorMittal makes the cut, emerges as sole bidder for Uttam Galva Steels | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/arcelormittal-makes-the-cut-emerges-as-sole-bidder-for-uttam-galva-steels-121032201133_1.html Six other firms, including four steelmakers, had submitted an expression of interest (EOI) for the debt-laden firm ArcelorMittal had entered into a co-promotion
Bombay HC asks for valuation of Karvy accounts – The Economic Times
Clipped from: https://economictimes.indiatimes.com/markets/stocks/news/bombay-hc-asks-for-valuation-of-karvy-accounts/articleshow/81680532.cms Synopsis–IIFL Securities had won the bid to acquire the 11 lakh demat accounts held by Karvy. Axis Securities emerged as the successful bidder
Banks may seek review of SC order; yet to get ex gratia from first round – The Financial Express
Clipped from: https://www.financialexpress.com/industry/banking-finance/banks-may-seek-review-of-sc-order-yet-to-get-ex-gratia-from-first-round/2219739/ Lenders themselves have paid the ex gratia amounts to their respective borrowers, and the last date for doing so was November 5, 2020.
Between Supreme Court & govt, banks lose freedom – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/between-supreme-court-govt-banks-lose-freedom/2219575/ SC did well to allow banks to declare loans as NPAs, but not allowing them to charge penal interest was a bad idea
Supreme Court rejects NBCC’s resolution plan for JIL – The Financial Express
Clipped from: https://www.financialexpress.com/industry/further-delay-supreme-court-rejects-nbccs-resolution-plan-for-jil/2219538/ Asks RP to invite fresh bids & complete insolvency process within 45 days The Supreme Court had in August last year transferred to
SEBI seeks ‘discretion’ in prosecutions – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/markets/stock-markets/sebi-seeks-discretion-in-prosecutions/article34153531.ece Watchdog wants the law amended as it faces charges of inconsistency Market regulator SEBI will be seeking ‘discretionary powers’ with regard to the
Amendments to the Finance Bill 2021 plug tax loophole in slump sale | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/amendments-to-the-finance-bill-2021-plug-tax-loophole-in-slump-sale-121032500064_1.html Amendments to the finance Bill, 2021, say that fair market value (FMV) will be taken as consideration of the sale Finance Minister Nirmala
IBC — back to the future – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/ibc-back-to-the-future/article34153104.ece Insolvency activity could get more hectic than before the pandemic on account of the Covid-induced financial stress To mitigate the impact of the
Jet Airways bid winners seek nod to discuss restoration of airport slotsThe Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/jet-airways-bid-winners-seek-nod-to-discuss-restoration-of-airport-slots/article34153690.ece NCLT Bench seeks Ministry’s response Jet Airways’ winning bidder, a consortium consisting of Murari Lal Jalan and Kalrock Capital, on Wednesday sought the
IBC will be back in full force from March 25 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/ibc-will-be-back-in-full-force-from-today/article34153863.ece?homepage=true Bankruptcy filings can resume; govt working on ‘pre-pack’ resolutions to clear backlog, new cases With the economy returning to normalcy, the Centre has,
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