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
Category: IBC-SEBI
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
SEBI amends valuation norms on AT-1 bonds after FinMin push – The Economic Times
Clipped from: https://economictimes.indiatimes.com/mf/mf-news/sebi-amends-valuation-norms-on-at-1-bonds-after-finmin-push/articleshow/81637280.cmsSynopsis One week after the Finance Ministry intervened in the matter, the Securities and Exchange Board of India on Monday amended valuation rule of
Resolution or liquidation? – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/columns/from-the-viewsroom/resolution-or-liquidation/article34125011.ece SC ruling on IBC vis-a-vis Companies Act leaves out nuances Recently, the Supreme Court ruled out any attempt by existing promoters to rebid
Banks to send more cases to bankruptcy courts even as old ones lie stagnant | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/banks-set-to-send-more-bankruptcy-cases-even-as-old-ones-lie-stagnant-121032100415_1.html Several roads, real estate and power companies are headed to the bankruptcy courts once the one-year ban imposed by the RBI lifts in
IBBI releases ‘Handbook of Ethics’ for IPs – The Hindu BusinessLine
Insolvency regulator IBBI has come out with a “Handbook on Ethics” for Insolvency Professionals to stimulate the highest standards of ethics and professionalism. This handbook
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
Resolution of bad loans may face logjam if IBC not streamlined: Experts | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/resolution-of-bad-loans-may-face-logjam-if-ibc-not-streamlined-experts-121031400919_1.html Few will go on record explicitly, but there is the fear that there will be a logjam ahead on the IBC front. In
No back-door pact for defaulting promoters: What the Supreme Court ruling means | Explained News,The Indian Express
Clipped from: https://indianexpress.com/article/explained/insolvency-bankruptcy-code-supreme-court-7231759/ The clarification by the Supreme Court with respect to participation of promoters in liquidation process of an insolvent company will speed up the
SC right to protect IBC | Business Standard Editorials
Clipped 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,
IBBI tightens reporting framework to monitor delays – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/ibbi-tightens-reporting-framework-to-monitor-delays/article34084867.ece IBBI has been taking steps to ensure that CIRPs get completed within deadlines IBBI has been taking steps to ensure that CIRPs get
SC right to protect IBC | Business Standard Editorials
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,
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
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