Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/pmla-case-kochhars-venugopal-dhoot-told-to-appear-in-court-on-february-12/articleshow/80603915.cmsSynopsis Special PMLA Judge AA Nandgoankar took cognisance of the complaint filed by ED on Saturday and directed all the accused to remain present
Category: IBC-SEBI
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
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 turns down Neesa promoter’s insolvency plea | Ahmedabad News – Times of India
Clipped from: https://timesofindia.indiatimes.com/city/ahmedabad/nclat-turns-down-neesa-promoters-insolvency-plea/articleshow/80160937.cms AHMEDABAD: The National Company Law Appellate Tribunal has turned down the plea of bureaucrat-turned-businessman Sanjay Gupta, to allow bankruptcy proceedings to be initiated for Neesa Infrastructure
Criminal cases deter insolvency resolution professionals: Tribunal | Chennai News – Times of India
Clipped from: https://timesofindia.indiatimes.com/city/chennai/criminal-cases-deter-insolvency-resolution-professionals-tribunal/articleshow/80292753.cms Chennai: If every resolution professional (RP) is bombarded with criminal prosecution and police investigation, they won’t be able to conduct the insolvency process without fear, observed the National Company
New public holding rules for companies under insolvency – Times of India
Clipped from: https://timesofindia.indiatimes.com/business/india-business/new-public-holding-rules-for-cos-under-insolvency/articleshow/79768427.cms NEW DELHI: In a first, the government on Wednesday decided to issue a National Security Directive for the telecommunication sector to mandate scrutiny
Insolvency resolution: The IBC story so far and the way forward – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/insolvency-resolution-the-ibc-story-so-far-and-the-way-forward/articleshow/80399160.cmsSynopsis Jurisprudence of any legislation takes time to evolve and IBC was no exception. Devendra Mehta Insolvency Professional & Restructuring Advisor, Contributor Content Solution:
IBC mechanism needs structural changes to expedite faster resolution of companies – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/only-structural-changes-in-ibc-mechanism-can-help-to-expedite-the-faster-resolution-of-companies/articleshow/80478370.cmsSynopsis The structural reforms needed are an increase in the number of benches, outsourcing of administration function to a specialized agency, clarity on the
Insolvency and Bankruptcy Code: Insolvency and Bankruptcy Code resolution timeline averages 440 days – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/insolvency-and-bankruptcy-code-resolution-timeline-averages-440-days/articleshow/80514065.cmsSynopsis An Alvarez & Marsal India report on Thursday called upon all IBC stakeholders to focus on improving efficiency to resolve cases in a
Insolvency: ‘Prior to admission’ delays dragging down efficiency of IBC – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/insolvency-prior-to-admission-delays-dragging-down-efficiency-of-ibc/article33677072.ece Promise of time-bound resolution a distant dream for stakehokders, says Alvarez & Marsal India India would do well to focus on capacity building
Strong-arm tactics, no answer to loan default – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/strong-arm-tactics-no-answer-to-loan-default/article33678063.ece By imposing a hefty fine on an NBFC, the central bank is sending a message to lenders Many digital apps adopt the “first
IBC and the ‘de-stressing’ of India Inc – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/ibc-and-the-de-stressing-of-india-inc/article33687283.ece Thanks to the bankruptcy code, distressed firms are able to better access short- and long-term debt funds The Covid-19 pandemic has been driving
Ease of Doing Business: Why is India still lagging behind in ease of doing business? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/why-is-india-still-lagging-behind-in-ease-of-doing-business/articleshow/80491863.cms Synopsis–Scores of compliances, land and labour challenges and tedious bureaucratic processes doesn’t quite tantamount to efficiency for businesses in India. A range of
IBC has changed debtor-creditor dynamics – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/ibc-has-changed-debtor-creditor-dynamics/articleshow/80592201.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The Insolvency and Bankruptcy Code has hence brought about significant behavioural changes among the creditors and debtors thereby redefining debtor-creditor relationship. Fear of
Insolvency and Bankruptcy Code resolution timeline averages 440 days – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/insolvency-and-bankruptcy-code-resolution-timeline-averages-440-days/articleshow/80514065.cmsSynopsis An Alvarez & Marsal India report on Thursday called upon all IBC stakeholders to focus on improving efficiency to resolve cases in a
NCLT nod for Kamini Metalliks taking over VBC Industries – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/nclt-nod-for-kamini-metalliks-taking-over-vbc-industries/article33658271.ece As per the arrangement, Kamini Metalliks will pay ₹57 crore to the VBC lenders. The National Company Law Tribunal , Hyderabad has approved
PMC Bank revival: Phased deposit withdrawal likely for customers – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/pmc-bank-revival-phased-deposit-withdrawal-likely-for-customers/article33656374.ece Potential investors include the Centrum Group-BharatPe combine and the UK-based Liberty Group Harried depositors of the scam-hit Punjab and Maharashtra Co-operative (PMC) Bank
Wrong call, NCLT, to curb rating action–the economic times
Clipped from: https://economictimes.indiatimes.com/blogs/et-editorials/wrong-call-nclt-to-curb-rating-action/ET Edit Quick takes, analyses and macro-level views on all contemporary economic, financial and political events. The National Company Law Tribunal (NCLT) erred, when
SBI starts forensic audit on Srei financials – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/markets/stock-markets/sbi-starts-forensic-audit-on-srei-financials/article33651103.ece?homepage=true State Bank of India has initiated a forensic audit on Srei Equipment Finance Ltd’s financials for the previous five years amid weakening business
Select class of unlisted firms need to file results with RoC – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/select-class-of-unlisted-firms-need-to-file-results-with-roc/article33651109.ece?homepage=true Move will enable early fraud detection, ensure statutory compliance The Centre has moved a step closer towards making certain unlisted companies prepare financial
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