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
Category: IBC-SEBI
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,
India likely to resume new bankruptcy filings after halt expires – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/india-likely-to-resume-new-bankruptcy-filings-after-halt-expires/articleshow/81666857.cmsSynopsis PM Modi’s government last year halted the process of initiating most fresh insolvency proceedings to insulate cash-strapped borrowers hit by the pandemic for
DHFL directors availed thousands of crores through fake loan accounts under PMAY: CBI–business today
Clipped from: https://www.businesstoday.in/current/economy-politics/dhfl-directors-availed-thousands-of-crores-through-fake-loan-accounts-under-pmjay-cbi/story/434782.html The CBI has registered a case against crisis-hit Dewan Housing Finance Limited (DHFL) promoters Kapil and Dheeraj Wadhawan, who are already in jail
Notice-pay received from outgoing employee is subject to GST, holds AAR – Times of India
Clipped from: https://timesofindia.indiatimes.com/business/india-business/notice-pay-received-from-outgoing-employee-is-subject-to-gst-holds-aar/articleshow/80281821.cms MUMBAI: Contracts with employees provide for furnishing a notice period, which typically ranges between one to three months.Many companies permit an employee to
IBC — back to the future – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/ibc-back-to-the-future/article34153104.ece?homepage=true Insolvency activity could get more hectic than before the pandemic on account of the Covid-induced financial stress To mitigate the impact of the
Any creditor of firm in liquidation can seek transfer of winding up plea from HC to NCLT: SC – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/any-creditor-of-firm-in-liquidation-can-seek-transfer-of-winding-up-plea-from-hc-to-nclt-sc/articleshow/79307771.cmsSynopsis A bench headed by Chief Justice S A Bobde and justices A S Bopanna and V Ramasubramanian was faced with two legal questions
IBC activity likely to see gradual rise after resumption, say experts | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/ibc-activity-likely-to-see-gradual-rise-after-resumption-say-experts-121032301580_1.html The CIRP, which was suspended in light of the Covid-related stress, covers a one-year period ending March 24, 2021 Experts are of the
NCLAT closes insolvency proceedings against Jyoti Ltd after settlement with financial creditors – The Financial Express
Clipped from: https://www.financialexpress.com/industry/nclat-closes-insolvency-proceedings-against-jyoti-ltd-after-settlement-with-financial-creditors/2218639/ The National Company Law Appellate Tribunal (NCLAT) has shut the insolvency proceedings initiated against motor and generator manufacturing company Jyoti Ltd after settlement
Forensic auditor to vet Suzlon’s books – The Hindu
Clipped from: https://www.thehindu.com/business/forensic-auditor-to-vet-suzlons-books/article34144281.ece Suzlon Energy said market regulator SEBI has appointed a forensic auditor to carry out forensic audit of its financial statements. “The company is
Future Group on the brink of bankruptcy despite respite in Reliance deal
Clipped from: https://www.businesstoday.in/current/corporate/future-group-on-the-brink-of-bankruptcy-despite-respite-in-reliance-deal/story/434578.html Cash-strapped Future Group is trying to expedite the deal with Mukesh Ambani-led company and save the retail chain — which includes brands like
Courts, probe agencies can’t proceed against DFI board sans prior govt approval – The Financial Express
Clipped from: https://www.financialexpress.com/industry/courts-probe-agencies-cant-proceed-against-dfi-board-sans-prior-govt-approval/2218082/ The NaBFID Bill tabled by finance minister Nirmala Sitharaman in Parliament on Monday makes it incumbent on courts get prior approval of the
Need legal provisions to have superintendence and control over NCLT, says appellate tribunal NCLAT – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/need-legal-provisions-to-have-superintendence-and-control-over-nclt-says-appellate-tribunal-nclat/articleshow/81635239.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The appellate tribunal observation came while passing an order passed over a petition filed by the resolution professional (RP) of International Recreation and
