lipped from: https://www.business-standard.com/article/opinion/sc-right-to-protect-ibc-121031601299_1.html Back door for promoters to retain control closed The Supreme Court, in deciding a case dealing with the promoters of Gujarat NRE Coke,
Category: IBC-SEBI
No in through the out door with IBC–the economic times
Clipped from: https://economictimes.indiatimes.com/blogs/et-editorials/no-in-through-the-out-door-with-ibc/ET Edit Quick takes, analyses and macro-level views on all contemporary economic, financial and political events. The Supreme Court’s ruling to bar defaulting promoters
DHFL: How money moved in circles in DHFL insurance deals – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/money-moved-in-circles-in-dhfl-insolvency-case/articleshow/81503546.cms SynopsisThe link between TDH and DHFL’s insurance business follows a complex trail of transactions that show that DHFL had funded entities that in
Supreme Court shuts back-door arrangement for defaulting promoters | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/supreme-court-shuts-back-door-arrangement-for-defaulting-promoters-121031600048_1.html The SC order barred promoters of Gujarat NRE Coke, a defaulting company, from proposing a revival plan in the event of liquidation under
‘For some companies, compliance is an unavoidable nuisance’ – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/specials/corporate-file/for-some-companies-compliance-is-an-unavoidable-nuisance/article34066435.ece Former SEBI chief M Damodaran on how only a few companies view compliance as an investment Be it the unearthing of the NSDL
Exempt independent directors from vicarious criminal liability: CII – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/exempt-independent-directorsfrom-vicarious-criminal-liability-cii/article34066952.ece?homepage=true Confederation of Indian Industry (CII) has called for legislative amendment to company law to expressly exempt independent directors from vicarious criminal liability as
Making directors truly independent – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/making-directors-truly-independent/article34067984.ece While SEBI’s proposals are in the right direction, giving minority shareholders a greater say in appointments can cut both ways Sometime back, a
Boardroom blues – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/reinforcing-the-role-of-independent-directors-shouldnt-raise-compliance-burden-on-companies/article33990753.ece Reinforcing the role of independent directors shouldn’t raise compliance burden on companies To prevent family-owned listed companies from short-changing minority shareholders, our regulators
Govt plans prepack insolvency process for MSMEs – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/govt-plans-prepack-insolvency-process-for-msmes/article34060850.ece Existing promoters may get to bid for their own entity The government plans to come up with a new pre-packed insolvency process for
Bhushan Power lenders accept JSW Steel plan, look to close deal by March 31 | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/lenders-with-majority-vote-for-closing-bhushan-power-deal-with-jsw-steel-121030500653_1.html 25 financial creditors would be realising 41% from the Rs 19,350 cr deal on claims of Rs 47,158 cr JSW Steel has a
Resolve fast, do not postpone IBC–the economic times
Clipped from: https://economictimes.indiatimes.com/blogs/et-editorials/resolve-fast-do-not-postpone-ibc/ET Edit Quick takes, analyses and macro-level views on all contemporary economic, financial and political events. The government should restart the Insolvency and Bankruptcy
Finance ministry asks Sebi to withdraw new rule on AT1 bonds – The Economic Times
Clipped from: https://economictimes.indiatimes.com/mf/mf-news/finance-ministry-asks-sebi-to-withdraw-new-rule-on-at1-bonds/articleshow/81463006.cmsSynopsis Department of Financial Services noted that the recent Sebi order can cause volatility in NAVs of debt funds. In a big development, finance ministry has
SC restores NCLT ruling in favour of Dharamshi-Jhunjhunwala consortium in Ricoh India case – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/company/corporate-trends/sc-restores-nclt-ruling-in-favour-of-dharamshi-jhunjhunwala-consortium-in-ricoh-india-case/articleshow/81465274.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The consortium had challenged the ruling of the National Company Law Appellate Tribunal (NCLAT) in the Apex Court that had set aside the
Essar Power MP: Adani Power makes Rs 2,600-crore offer for Essar Power MP under IBC – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/energy/power/adani-power-makes-2600-cr-offer-for-essar-power-mp-under-ibc/articleshow/81384207.cmsSynopsis A lender group is negotiating with Adani to sweeten the terms of the deal. The group wants at least Rs 400 crore more,
Suspension of IBC proceedings may not be extended beyond March 24 | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/suspension-of-ibc-proceedings-may-not-be-extended-beyond-march-24-121030800024_1.html Centre likely to review situation after a few months; another extension is economically and legally untenable, say officials The Budget session of Parliament
Sebi proposes sweeping changes to rules for appointment of independent directors – The Economic Times
Clipped from: https://economictimes.indiatimes.com/markets/stocks/news/sebi-proposes-sweeping-changes-to-rules-for-appointment-of-independent-directors/articleshow/81277950.cmsSynopsis The regulator plans to introduce the dual-approval system for the appointment and removal of independent directors. MUMBAI: The Securities and Exchange Board of
Sebi plans ‘dual approval’ for independent directors – The Economic Times
Clipped from: https://economictimes.indiatimes.com/markets/stocks/news/sebi-plans-dual-approval-for-ind-directors/articleshow/81280779.cms SynopsisThe regulator plans to introduce the dual-approval system for the appointment and removal of independent directors (ID). MUMBAI: The Securities and Exchange Board of
Liquidation an outcome of market forces: IBBI chairperson M S Sahoo | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/liquidation-an-outcome-of-market-forces-ibbi-chairperson-m-s-sahoo-121031000046_1.html Sahoo was responding to the criticism that only 25 per cent of IBC cases end up in resolution while the remaining get liquidated
Special insolvency relief framework for Covid-hit MSMEs in the works | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/special-insolvency-relief-framework-for-covid-hit-msmes-in-the-works-121031000069_1.html Such firms may be allowed to opt for pre-packaged deal The provisions under consideration include allowing MSMEs to opt for pre-package deals by
IBC moratorium extension unlikely | Business News,The Indian Express
Clipped from: https://indianexpress.com/article/business/ibc-moratorium-extension-unlikely-7221584/ Pre-pack inclusions under inter-ministerial consideration, The government had also raised the threshold for initiation of insolvency proceedings to Rs 1 crore from Rs
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