Clipped from: https://www.thehindubusinessline.com/money-and-banking/dhfl-bids-oaktree-mulls-legal-action-seeing-creditors-bias-towards-piramals-offer/article33488461.ece Oaktree Capital is weighing legal action against the lenders of Dewan Housing Finance Corporation Ltd (DHFL) over the resolution process amid initial indications
Category: IBC-SEBI
Honest promoters to have greater leeway: Under scheme in works, such promoters to get chance to make first bid – The Financial Express
Clipped from: https://www.financialexpress.com/economy/honest-promoters-to-have-greater-leeway-under-scheme-in-works-such-promoters-to-get-chance-to-make-first-bid/2162058/ Under the scheme, meant only for NPAs less than a year old, the eligible promoters will get to submit resolution plans first. While
Sebi tweaks public shareholding norms for companies under insolvency process – The Economic Times
Clipped from: https://economictimes.indiatimes.com/markets/stocks/news/sebi-clears-new-shareholding-norms-for-corporate-insolvency-resolution-process-cos/articleshow/79760689.cmsSynopsis The move would ensure revival of the corporate debtor pursuant to the resolution plan and provide any listing gains over the next three
Sebi likely to relax norms for investing in insolvent firms – The Economic Times
Clipped from: https://economictimes.indiatimes.com/markets/stocks/news/sebi-likely-to-relax-norms-for-investing-in-insolvent-firms/articleshow/79731531.cms Synopsis–Typically, preferential shares are issued to incoming investor under the insolvency resolution plan. Such shares are currently required to be under lock-in. Mumbai:
ArcelorMittal, JSW Steel among six firms keen on buying Uttam Galva Steel | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/arcelormittal-jsw-steel-among-six-firms-keen-on-buying-uttam-galva-steel-121010300414_1.html Uttam Galva’s total admitted claims are Rs 9,070.66 crore, with ArcelorMittal having an 87 per cent voting share among financial creditors ArcelorMittal became
Ground seems ready for new options to resolve stressed assets: IBBI chief – The Financial Express
Clipped from: https://www.financialexpress.com/industry/ground-seems-ready-for-new-options-to-resolve-stressed-assets-ibbi-chief/2163151/ In place for more than four years, the Insolvency and Bankruptcy Code (IBC) is helping in resolution of stressed assets in a market-linked
Don’t let the Insolvency and Bankruptcy Code go the CDR way – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/dont-let-the-insolvency-and-bankruptcy-code-go-the-cdr-way/2162428/ IBC should never have been kept in abeyance for so long and, if not handled well, the pre-pack can deal it a big
GoAir auditors raise going concern doubts as net worth erodes in FY20 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/logistics/goair-auditors-raise-going-concern-doubts-as-net-worth-erodes-in-fy20/article33465567.ece?homepage=true GoAir’s poor financial health and the ongoing Covid-19 pandemic have led the low-cost carrier’s independent auditors to cast doubts on whether it can
63 moons moves NCLT seeking recovery for DHFL creditors – The Financial Express
Clipped from: https://www.financialexpress.com/industry/banking-finance/63-moons-moves-nclt-seeking-recovery-for-dhfl-creditors/2161949/ “The benefit of avoidance applications for approximately Rs 30,000 crore filed by DHFL administrator under section 66 of Insolvency and Bankruptcy Code (IBC)
CBI files case against IVRCL for Rs 5,000 crore loan fraud–Business today
Clipped from: https://www.businesstoday.in/current/economy-politics/cbi-files-case-against-ivrcl-for-rs-5000-crore-loan-fraud/story/426516.html The company allegedly availed various credit limits from a consortium of banks, led by State Bank of India and cheated the banks, without
Non-performing assets recovered via IBC rise 61% in 2019-20 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/non-performing-assets-recovered-via-ibc-rise-61-in-2019-20/article33447464.ece IBC, under which recovery is incidental to rescue of companies, remained the dominant mode of recovery, according to RBI’s “Report on Trend and
IBC emerges as major mode of NPA recovery in 2019-20 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/ibc-emerges-as-major-mode-of-npa-recovery-in-2019-20/article33447977.ece Of the total amount of ₹ 1,72,565 crore recovered, IBC route accounted for ₹ 1,05,773 crore Non-performing assets (NPAs) recovered by scheduled commercial banks through the Insolvency
Why the bid war for DHFL may well end up being a curse for the winner | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/why-the-bid-war-for-dhfl-may-well-end-up-being-a-curse-for-the-winner-120122800905_1.html Establishing a greenfield HFC may be cheaper for the bidders than picking up one embroiled in fraud probes As the race for beleaguered
IBBI bares regulatory teeth against 2 IPs for misconduct – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/ibbi-bares-regulatory-teeth-against-2-ips-for-misconduct/article33233791.ece Both can’t take fresh assignments till exonerated of charges In separate cases, insolvency regulator IBBI’ s Disciplinary Committee has come down heavily on
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,
Corporate Insolvency: IBBI may rein in engagement of third party consultants – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/corporate-insolvency-ibbi-may-rein-in-engagement-of-third-party-consultants/article33378412.ece The Insolvency and Bankruptcy Board of India (IBBI), which has released the discussion paper on ‘Engagement of “professionals” in a corporate Insolvency Resolution
Centre extends suspension of insolvency initiation under IBC till March 25 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/centre-extends-suspension-of-insolvency-initiation-under-ibc-till-march-25/article33400181.ece Calibrated end of suspension may have helped debtors, say experts The Ministry of Corporate Affairs (MCA) has extended by three more months —
Liquidation under IBC: Understanding the numbers – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/liquidation-under-ibc-understanding-the-numbers/2158508/ Even cases forfeited under BIFR have seen 23% recovery from IBC liquidation By Neeti Shikha, Urvashi Shahi & Rahul Prakash Not even four
Permit Voluntary Liquidation under IBC–economic times
Clipped from: https://economictimes.indiatimes.com/blogs/et-editorials/permit-voluntary-liquidation-under-ibc/ET Edit Quick takes, analyses and macro-level views on all contemporary economic, financial and political events. The government’s move to extend the suspension of
Reliance Communications’ resolution may hit a bump as banks mark its account as fraud – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/telecom/telecom-news/rcom-resolution-may-hit-a-bump/articleshow/79983719.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Resolution applicants Reliance Jio Infocomm and UV Asset Reconstruction Co. Ltd (UVARCL) may want to seek indemnity from any investigative proceedings into these
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