Clipped from: https://www.business-standard.com/article/economy-policy/pre-pack-scheme-for-insolvency-banks-on-fair-debtor-creditor-ties-121021000051_1.html The journey of a pre-pack starts with an informal understanding, engages stakeholders, and ends with a judicial blessing of the outcome The pre-packaged
Category: IBC-SEBI
Bad bank to deepen IBC use; special insolvency framework for MSMEs in the works: IBBI chairman Sahoo – The Financial Express
Clipped from: https://www.financialexpress.com/industry/bad-bank-to-deepen-ibc-use-special-insolvency-framework-for-msmes-in-the-works-ibbi-chairman-sahoo/2191058/ MS Sahoo, the chief of the insolvency regulator IBBI, explains why the Budget proposals for a special insolvency framework for MSMEs as well
CCI launches probe against steel companies over alleged price cartelisation
Clipped from: https://www.businesstoday.in/current/economy-politics/cci-launches-probe-against-steel-companies-over-alleged-price-cartelisation/story/430747.html There has been a sharp rise in steel prices since June and there have been complaints from various quarters against this. JSW Steel,
Rebooting Economy 65: IBC has failed; will a bad bank succeed?–business today
Clipped from: https://www.businesstoday.in/opinion/columns/rebooting-economy-65-ibc-has-failed-will-a-bad-bank-succeed/story/430537.html At 21% recovery, IBC has performed worse than UPA-era debt recovery mechanisms panned for inefficiencies. The idea of a bad bank is also
The Insolvency and Bankruptcy Code allows the market to make the most efficient choice–MS SAHOO WRITES: –indian express
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
SC has made noteworthy pronouncements on the Insolvency Code – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/business-laws/sc-has-made-noteworthy-pronouncements-on-the-insolvency-code/article33775414.ece These go to strengthen the Code, which an important measure, meant to prevent insolvency by reviving ailing businesses. The Code however, is not
Over 21,250 cases pending before NCLT at end of December 2020 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/over-21250-cases-pending-before-nclt-at-end-of-december-2020/articleshow/80754041.cmsSynopsis In a written reply to Lok Sabha, Finance and Corporate Affairs Minister Nirmala Sitharaman on Monday said that during the lockdown, adequate measures
CIRP attractive – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/business-laws/cirp-attractive/article33322063.ece Creditors are realising on average nearly 200 per cent of liquidation value through resolution plans under CIRP, as the company continues with business,
Tightening the screws on guarantors – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/business-laws/tightening-the-screws-on-guarantors/article33545101.ece Can insolvency proceedings be initiated simultaneously against both the borrower and the corporate guarantor? The Supreme Court, while reiterating the co-extensive liability of
Tweaking IBC for cross-border cases – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/business-laws/tweaking-ibc-for-cross-border-cases/article33545085.ece The Insolvency and Bankruptcy Code 2016 has been beefed up to suit current needs but issues still remain Overhauling the insolvency and bankruptcy
Without Reliance deal, future uncertain for Kishore Biyani’s firms | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/without-reliance-deal-future-uncertain-for-kishore-biyani-s-firms-121020501995_1.html This week, the Delhi High Court directed Biyani’s flagship company to maintain the status quo on its Rs 24,713-crore deal to sell his
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
M&A costs to go up after Budget 2021 axes tax depreciation on goodwill | Business Standard News
Clipped from: https://www.business-standard.com/budget/article/m-a-costs-to-go-up-after-budget-2021-axes-tax-depreciation-on-goodwill-121020300252_1.html The amendments on goodwill are retrospective as depreciation on any past goodwill, partly claimed in the past, would not be available going forward
Leprosy Foundation moves plea against DHFL in Delhi HC – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/leprosy-foundation-moves-plea-against-dhfl-in-delhi-hc/article33710013.ece?homepage=true The foundation has more than ₹10 crore, which is now stuck with DHFL and as per the proposed resolution plan, it would get
PMLA case: Kochhars, Venugopal Dhoot told to appear in court on February 12 – The Economic Times
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
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
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