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
Category: IBC-SEBI
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
M S Sahoo explains achievements, evolution, and challenges of the IBC | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/m-s-sahoo-explains-achievements-evolution-and-challenges-of-the-ibc-121030700922_1.html IBC is an option; stakeholders may not use it even if freeze not extended, says M S Sahoo twists and turns. Insolvency and
NCLT can rule only on insolvency of corporate debtors, says Supreme Court | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/nclt-can-rule-only-on-insolvency-of-corporate-debtors-says-supreme-court-121030801258_1.html The Supreme Court on Monday held that the NCLT has jurisdiction to adjudicate disputes, which arises solely or relates to the insolvency of
Jet Airways cannot claim historical right on airport slots: Govt to NCLT | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/jet-airways-can-t-claim-historical-right-over-slots-aviation-ministry-121030801351_1.html The ministry and the civil aviation regulator have said the government will consider the airline’s request for slots as per existing policy The
PMC Bank suitors face additional capital rider; RBI board meet on March 19 | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/pmc-bank-suitors-face-additional-capital-rider-rbi-board-meet-on-march-19-121030900114_1.html Rs 750 cr needed to enable payout of over Rs 5 lakh per depositor Sources close to the PMC Bank transaction said that
Supreme Court ends extension of limitation period, says country returning to normalcy – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/politics-and-nation/supreme-court-ends-extension-of-limitation-period-says-country-returning-to-normalcy/articleshow/81394957.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis A bench of Chief Justice S A Bobde and Justices L Nageswara Rao and S Ravindra Bhat had been extending the limitation period
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