Clipped from: https://www.businesstoday.in/current/corporate/bharatpe-may-offer-to-pay-back-pmc-bank-retail-depositors-in-full-report/story/428164.html The BharatPe-Centrum combine is of the four bidders that have made submissions to the Reserve Bank of India for acquiring PMC Bank. The
Category: IBC-SEBI
Ajay Piramal wins the most contested bankruptcy bid for Dewan Housing Finance Ltd – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/ajay-piramal-wins-the-most-contested-bankruptcy-bid-for-dewan-housing-finance-ltd/articleshow/80289989.cmsSynopsis Piramal’s bid received about 94 percent of votes of the creditors, followed by Oaktree at 45 percent, sources told ET. Adani Capital obtained
RBI’s FSDC panel reviews insolvency resolution under IBC – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/rbis-fsdc-panel-reviews-insolvency-resolution-under-ibc/article33570381.ece The Sub-Committee, chaired by Governor Shaktikanta Das, also discussed changes in the regulatory framework relating to Alternative Investment Funds (AIFs) set up in
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?homepage=true The Insolvency and Bankruptcy Code 2016 has been beefed up to suit current needs but issues still remain Overhauling the insolvency and bankruptcy
CBI books Hyderabad-based Coastal Projects Ltd in connection with Rs 4,736 crore bank fraud – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/cbi-books-hyderabad-based-coastal-projects-ltd-in-connection-with-rs-4736-crore-bank-fraud/articleshow/80187680.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The complaint from the SBI, now a part of the FIR, has alleged that the accused construction company, during the five year period
Govt may roll out ‘pre-pack’ scheme as IBC remains suspended–business today
Clipped from: https://www.businesstoday.in/current/economy-politics/govt-may-roll-out-pre-pack-scheme-as-ibc-remains-suspended/story/427433.html Though resolution professional will be appointed, he will only be responsible for smooth running of the pre-pack process, which is supposed to be
Real estate cases under IBC make encouraging progress, 50% closed by Jul-Sep’20–business today
Clipped from: https://www.businesstoday.in/sectors/infra/real-estate-cases-under-ibc-make-encouraging-progress-50-closed-by-jul-sep-20/story/427319.html The enactment of the Insolvency and Bankruptcy Code in 2016, (IBC) along with RERA ushered in a new era of regulation for the
Fresh IBC suspension due to COVID-19 may put brakes on stressed asset resolution
Clipped from: https://www.businesstoday.in/current/corporate/fresh-ibc-suspension-due-to-covid-19-may-put-brakes-on-stressed-asset-resolution/story/426612.html To provide relief for entities impacted by the pandemic, the government has suspended fresh proceedings under the Insolvency and Bankruptcy Code (IBC) starting
MCA proposes pre-packaged insolvency resolution process for Covid defaults | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/mca-proposes-pre-packaged-insolvency-resolution-process-for-covid-defaults-121010900043_1.html The future phases would cover a default above Rs 1 crore, followed by Rs 1 to Rs 1 lakh The corporate debtor would
DHFL auction: Sebi wants to know how Oaktree made credit rating claims of future debt instrument – The Financial Express
Clipped from: https://www.financialexpress.com/market/dhfl-auction-sebi-wants-to-know-how-oaktree-made-credit-rating-claims-of-future-debt-instrument/2167219/ Since the conclusion of the fifth round of the bidding last month, Oaktree and Piramal Enterprises are claiming that their bid is highest
‘Will strive for malleable regulatory framework’ – The Hindu
Clipped from: https://www.thehindu.com/business/will-strive-for-malleable-regulatory-framework/article33474916.ece ‘IBBI to adapt to changing scenario’ The Insolvency and Bankruptcy Board of India (IBBI) has adapted itself to the new environment in the
Videocon’s lenders give nod to Vedanta’s ₹3,000-crore offer – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/videocons-lenders-give-nod-to-vedantas-3000-crore-offer/article33503769.ece At less than 10% of group’s ₹46,000-cr debt, creditors to take big haircut Lenders will have to take a massive haircut as they have
Oaktree provides unconditional, implementable plan for DHFL resolution – The Financial Express
Clipped from: https://www.financialexpress.com/industry/banking-finance/oaktree-provides-unconditional-implementable-plan-for-dhfl-resolution/2166510/ US-based Oaktree Capital has said its revised bid for the debt-ridden DHFL is unconditional and comes with a commitment of fresh capital infusion
DHFL lenders likely to factor in a lot more than a highest bid – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/dhfl-lenders-likely-to-factor-in-a-lot-more-than-a-highest-bid/articleshow/80144697.cmsSynopsis With voting underway on three plans submitted by the Piramal Group, Adani Group and buyout fund Oaktree Capital in the hotly contested bankruptcy
Prepack insolvency resolution: Swiss Challenge options, IBC tweaks on cards | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/prepack-insolvency-resolution-swiss-challenge-options-ibc-tweaks-on-cards-121010600063_1.html?utm_source=Spotlight&utm_medium=website&utm_campaign=Premium_11072018 The prepack is to start with a base resolution plan (BRP), which will face a Swiss Challenge; and this should come from the
I&B: Has suspension of IBC proceedings achieved its desired goal? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/legal/has-suspension-of-ibc-proceedings-achieved-its-desired-goal/articleshow/80109902.cmsSynopsis When the suspension was proposed in June 2020, no one expected that the pandemic would last for such a long period, and therefore
Insolvency Professionals asked to maintain certain records in electronic form for 8 years – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/insolvency-professionals-asked-to-maintain-certain-records-in-electronic-form-for-8-years/article33503050.ece?homepage=true IBBI circular lays down roles and responsibilities of IPs for safekeeping of records Insolvency regulator IBBI has now directed insolvency professionals to preserve
India is no place for insider trading–the econcomic times
Clipped from: https://economictimes.indiatimes.com/blogs/et-editorials/india-is-no-place-for-insider-trading/ET Edit Quick takes, analyses and macro-level views on all contemporary economic, financial and political events. Big-ticket foreign portfolio investors (FPI) are reportedly miffed
I&B: Has suspension of IBC proceedings achieved its desired goal? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/legal/has-suspension-of-ibc-proceedings-achieved-its-desired-goal/articleshow/80109902.cmsSynopsis When the suspension was proposed in June 2020, no one expected that the pandemic would last for such a long period, and therefore
Ground seems ready for new options to resolve stressed assets: IBBI chief – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/ground-seems-ready-for-new-options-to-resolve-stressed-assets-ibbi-chief/article33485839.ece The ground seems to be ready to experiment new options for resolution of stress and the market is anticipating a hybrid framework between
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