Clipped from: https://www.thehindubusinessline.com/money-and-banking/finmin-directs-banks-to-up-the-game-on-personal-guarantors-to-corporate-loans/article32459061.ece Tells them to install IT and monitoring systems to collate structured data KR Srivats/Shishir Sinha In a move to keep a keener eye on
Category: IBC-SEBI
IBBI bars an Insolvency Professional from rendering services for 3 months – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/ibbi-bars-an-insolvency-professional-from-rendering-services-for-3-months/article32444487.ece This member had contravened IBC by engaging an unregistered valuer Appointing an unregistered valuer got an insolvency professional (IP) Rajneesh Singhvi in trouble
CBI books Delhi-based firm, its directors – The Hindu
Clipped from: https://www.thehindu.com/news/national/cbi-books-delhi-based-firm-its-directors/article34185016.ece Case involves defrauding a bank of over ₹50 crore The Central Bureau of Investigation (CBI) has booked a Delhi-based company and others for
Market in distressed assets may be huge, but deal-making faces headwinds | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/market-in-distressed-assets-may-be-huge-but-deal-making-faces-headwinds-121032800715_1.html With the Supreme Court vacating the one-year breather on the filing of insolvency proceedings, it’s back to the grind on the bad-loans front
Statsguru: 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
JSW Steel now eyes Neelachal Ispat Nigam – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/jsw-steel-now-eyes-neelachal-ispat-nigam/article34184868.ece Post acquisition of BPSL, steel giant hunts for small firms Even as it was transferring ₹19,350 crore for acquiring the stressed asset of
SEBI does its bit for startup ecosystem–the economic times
Clipped from: https://economictimes.indiatimes.com/blogs/et-editorials/sebi-does-its-bit-for-startup-ecosystem/ET Edit Quick takes, analyses and macro-level views on all contemporary economic, financial and political events. Capital markets regulator Sebi has made far-reaching changes
SC rules in favour of IL&FS in Gurgaon metro case – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/news/national/sc-rules-in-favour-of-ilfs-in-gurgaon-metro-case/article34175983.ece The Supreme Court has ruled in favour of IL&FS by asking Haryana Government to deposit ₹1,925 crore in an escrow amount in a
IBC threshold limit raise may leave some creditors stranded – The Hindu BusinessLine
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
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
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