Clipped from: https://economictimes.indiatimes.com/news/economy/policy/llp-compliance-set-to-get-stricter-as-mca-applies-sections-of-companies-act-to-llp-act/articleshow/81093228.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis A total of eight sections relating to the register of significant beneficial owners, disqualifications of directors, conduct of inquiries and inspections and non-cognizable
Category: IBC-SEBI
DHFL Piramal takeover: RBI’s DHFL approval takes Piramal one step closer to expand reach to grow retail book – The Economic Times
Clipped from: https://economictimes.indiatimes.com/markets/stocks/news/rbis-dhfl-approval-takes-piramal-one-step-closer-to-expand-reach-to-grow-retail-book/articleshow/81092982.cmsSynopsis A quick approval from the RBI is likely a precursor for a NCLT approval even as the resolution plan, the first for a
MS Sahoo writes: The Insolvency and Bankruptcy Code allows the market to make the most efficient choice–business today
Clipped from: https://indianexpress.com/article/opinion/columns/insolvency-and-bankruptcy-code-corporate-debt-resolution-process-7178980/ Liquidation or rescue is an outcome of the market forces; the law is only an enabler giving choices and nudging a company towards
Insolvency and Bankruptcy Code: India still lagging on some key indicators of dispute resolution | Business News,The Indian Express
Clipped from: https://indianexpress.com/article/business/economy/insolvency-and-bankruptcy-code-india-still-lagging-on-some-key-indicators-of-dispute-resolution-7167152/ The Economic Survey 2020-21 noted that the legal system was the single most important method of dispute resolution and that India was still
NCLAT stays insolvency process of RP Infosystems | Business News,The Indian Express
Clipped from: https://indianexpress.com/article/business/nclat-stays-insolvency-process-of-rp-infosystems-7161533/ In its judgment, the NCLAT said that since the insolvency petition moved by SBI in 2019, seven years after RP Infosystems’ accounts were
NCLT admits insolvency proceedings against McNally Sayaji Engineering – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/nclt-admits-insolvency-proceedings-against-mcnally-sayaji-engineering/article33857847.ece?homepage=true Financial creditor ICICI Bank moved the tribunal McNally Sayaji Engineering, an unlisted subsidiary of the Khaitain family-run McNally Bharat Engineering, is facing corporate
DHFL’s fake branch used to siphon money, says ED–the economic times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/dhfls-fake-branch-used-to-siphon-rs-12000-crore-says-ed/articleshow/80966098.cmsSynopsis Promoters of Dewan Housing Finance Corporation Ltd (DHFL) had opened a fictitious branch in Bandra which boasted of over two lakh dummy homebuyers
Future Group creditors scramble to recover $2.5 billion loans amid Reliance deal woes: Bankers – The Financial Express
Clipped from: https://www.financialexpress.com/industry/future-group-creditors-scramble-to-recover-2-5-billion-loans-amid-reliance-deal-woes-bankers/2195755/ Bankers exploring one-time restructuring option for Future group; Lenders concerned liquidation scenario cannot be ruled out Future, India’s No.2 retailer with more than
Back the IBC | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/back-the-ibc-121021501399_1.html A new mechanism will only kick the can down the road The government is reportedly considering lifting the suspension of the Insolvency and Bankruptcy
ED arrests businessman in PMLA case against Mumbai realty group – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/national/ed-arrests-businessman-in-pmla-case-against-mumbai-realty-group/article33838768.ece?homepage=true The ED also claimed that “loans to the tune of ₹410 crore were diverted and not used for intended purposes” The Enforcement Directorate
IBBI arm seeks e-platform for stressed asset sale – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/ibbi-arm-seeks-e-platform-for-stressed-asset-sale/article33838494.ece The research wing of Insolvency and Bankruptcy Board of India has suggested an online platform for sale of stressed assets to bring in
IBC set to resume; relief for key worst-affected sectors on the cards | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/ibc-set-to-resume-relief-for-key-worst-affected-sectors-on-the-cards-121021400962_1.html Top officials to meet this week to discuss the matter Apart from extending the suspension, some of the proposals are to have hybrid
MSME insolvency: Only debtors may get to start bankruptcy process – The Financial Express
Clipped from: https://www.financialexpress.com/industry/sme/msme-insolvency-only-debtors-may-get-to-start-bankruptcy-process/2194673/ Similarly, several procedural requirements on issues, such as claims of creditors, may be simplified to make the entire process less rigorous. This is
NCLAT asks Devas Multimedia shareholder to approach NCLT – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/company/corporate-trends/nclat-asks-devas-multimedia-shareholder-to-approach-nclt/articleshow/80909493.cmsSynopsis On January 19, the Bengaluru bench of the National Company Law Tribunal (NCLT) had admitted the petition by Antrix Corporation, the commercial arm
Trademark row to ‘financial creditor’ under IBC, here’re key court orders | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/trademark-row-to-financial-creditor-under-ibc-here-re-key-court-orders-121021201902_1.html A selection of key court orders SC interprets term ‘financial creditor’ Interpreting the definition of “financial creditor” in the Insolvency and Bankruptcy Code,
NCLT raps Amazon in Future case: Don’t be a ‘perpetual objector’ | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/nclt-raps-amazon-in-future-case-don-t-be-a-perpetual-objector-121021300073_1.html Says it has no locus standi in Future’s plea to hold shareholder meeting; reserves order The Mumbai Bench of the NCLT asked both
What are pro forma NPAs and how does that impact borrowers? | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/decoded-what-are-pro-forma-npas-and-how-does-that-impact-borrowers-121021201934_1.html An analysis of results declared by listed banks so far shows that the NPA figures shown in the bank income statements are lower
Need to do more: Bid to resolve Rs 5-lakh crore pain point for MSMEs sees tardy progress – The Economic Times
lipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/need-to-do-more-bid-to-resolve-rs-5-lakh-crore-pain-point-for-msmes-sees-tardy-progress/articleshow/80824807.cms Synopsis–Costs for MSMEs to do business is rising in all sorts of ways. Unpaid dues are central to their woes. For the financially
Rebooting Economy 66: Is India facing credit deprivation to warrant corporation banks?–business today
Clipped from: https://www.businesstoday.in/opinion/columns/rebooting-economy66-is-india-facing-credit-deprivation-to-warrant-corporation-banks/story/430868.html RBI’s database, reports and other evidence show India is credit surplus; large industrial houses have high debt stress, and that easy credit poses
IBC: Avoid intricacies, raise awareness to check liquidations – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/ibc-avoid-intricacies-raise-awareness-to-check-liquidations/article33802383.ece Brace for surge in filings once freeze lifts, says expert The Centre must brace for a surge in fresh corporate bankruptcy filings after
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