Clipped from: https://www.thehindubusinessline.com/news/national/ibc-threshold-limit-raise-may-leave-some-creditors-stranded/article34169213.ece ‘Either reduce limit or restore Companies Act clauses’ Threshold limit under the Insolvency and Bankruptcy Code (IBC) for invoking an application may have
Category: IBC-SEBI
Pre-packing the insolvency resolution process – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/pre-packing-the-insolvency-resolution-process/article34172160.ece Multiple competing choices for resolution of stress makes an economy a great place to do business The Insolvency and Bankruptcy Code, 2016 envisaged
JSW transfers Rs 19,350 cr to complete acquisition of Bhushan Power and Steel – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/jsw-transfers-rs-19350-cr-to-complete-acquisition-of-bhushan-power-and-steel/articleshow/81706126.cmsSynopsis JSW Steel was chosen the winning bidder for BPSL’s assets in September 2019, and the resolution plan was approved by NCLT soon after.
Wave Mega City Centre moves NCLT for voluntary resolution to protect buyers
Clipped from: https://www.businesstoday.in/current/corporate/wave-mega-city-centre-moves-nclt-for-voluntary-resolution-to-protect-buyers/story/435018.html On Friday, the company moved NCLT to protect the interest of buyers in the project who are left stranded after the Noida Authority
Compliance deficit – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/compliance-deficit/article34101291.ece The rule book on corporate governance is getting fatter but the compliance is not getting any better With the Securities Exchange Board of
Supreme Court does well to shut out unscrupulous promoters – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/supreme-court-does-well-to-shut-out-unscrupulous-promoters/2215706/ While the IBC rules out such promoters trying to retain control, some tried a comeback via the Companies Act Given how errant promoters
MCA sets annual remuneration limits for firms in red – The Hindu BusinessLine
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,
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
aniltikotekar4sme.com 