Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/ahead-of-dhfl-voting-oaktree-fires-fresh-salvo-against-piramal-bid/articleshow/79980300.cmsSynopsis A key point that Oaktree is harping on is the structure Piramal’s have proposed in their business plan, that involves a merger between
Category: IBC-SEBI
Satyam, IL&FS, Enron and Wirecard frauds brought auditors’ independence and professional scepticism to the fore: NFRA Chairman – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/services/consultancy-/-audit/satyam-ilfs-enron-and-wirecard-frauds-brought-auditors-independence-and-professional-scepticism-to-the-fore-nfra-chairman/articleshow/79957416.cmsSynopsis Sridharan said that problems cited in the FRC’s latest report included an overreliance on letters from management without further audit checks, and a
Indian Bank reports Pratibha Group fraud for dues of ₹574.66 crore – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/indian-bank-reports-pratibha-group-fraud-for-dues-of-57466-crore/article33412834.ece Chennai-headquartered public sector Indian Bank has announced that it fully provided Non-Performing Accounts of two companies of Pratibha Group namely, Pratibha Industries and
HC allows SFIO to interrogate Singh brothers for two weeks starting Jan 1 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/hc-allows-sfio-to-interrogate-singh-brothers-for-two-weeks-starting-jan-1/articleshow/79958437.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The SFIO had moved the high court against a September 22 order of the trial court denying it permission to examine the four
NCLT directs IBBI, lenders to investigate into the affairs of Lotus Auto Engineering – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/auto/auto-components/nclt-directs-ibbi-lenders-to-investigate-into-the-affairs-of-lotus-auto-engineering/articleshow/79956117.cms SynopsisThe development is likely to set a precedent as an order to investigate into the conduct of the Resolution Professional (RP) and the
Oaktree sweetens DHFL offer by Rs 1,700 crore – The Financial Express
Clipped from: https://www.financialexpress.com/industry/oaktree-sweetens-dhfl-offer-by-rs-1700-crore/2157120/ In an email sent to committee of creditors (CoC) just before the scheduled meeting of lenders on Thursday, Oaktree Capital said it would
IBC extension set to increase complications in the financial statements of companies – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/ibc-extension-set-to-increase-complications-in-the-financial-statements-of-companies/articleshow/79925646.cms Synopsis–For the lenders, the financial statements will have to reflect and even take a judgment on the financial health of companies they have
Delaying the inevitable: The Hindu Editorial on suspension of insolvency proceedings – The Hindu
Clipped from: https://www.thehindu.com/opinion/editorial/delaying-the-inevitable-the-hindu-editorial-on-suspension-of-insolvency-proceedings/article33397154.ece Restructuring of bad loans will get tardier as the bankruptcy code is kept in abeyance The government has kicked the can down the
IBC suspension extended till March 2021 – The Hindu
Clipped from: https://www.thehindu.com/news/national/ibc-suspension-extended-till-march-2021/article33387578.ece The government has decided to extend the suspension of the Insolvency and Bankruptcy Code (IBC) till March 31, 2021, to help businesses cope
DHFL bidder selection: Oaktree Capital asks lenders for fair treatment | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/dhfl-bidder-selection-oaktree-capital-asks-lenders-for-fair-treatment-120122300051_1.html Oaktree and Piramal Group are engaged in neck and neck competition to get control of the mortgage lender, for which the selection process
Wrong call on IBC | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/wrong-call-on-ibc-120122101257_1.html Govt should not have extended suspension of bankruptcy work The Insolvency and Bankruptcy Code (IBC) is one of the major reforms of the National Democratic
IBC suspension likely to be extended by 3 more months amid Covid crisis – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/ibc-suspension-likely-to-be-extended-by-3-more-months-amid-covid-crisis/articleshow/79831823.cms Synopsis–Policymakers are of the view that a further extension is required as the economy is yet to emerge from contraction and businesses need
Insolvency and bankruptcy code (IBC) suspension extended till March 31 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/insolvency-and-bankruptcy-code-ibc-suspension-extended-till-march-31/articleshow/79843895.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The government had suspended fresh proceedings under IBC for loan defaults on or after March 25, for six months, as part of measures
Bids for DHFL still under evaluation – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/bids-for-dhfl-still-under-evaluation/article33367587.ece The Committee of Creditors (CoC) for the troubled Dewan Housing Finance Corporation Ltd (DHFL) on Friday evaluated the bids by Oaktree Capital, Piramal
Fret not overmuch over IBC liquidation–economic times
Clipped from: https://economictimes.indiatimes.com/blogs/et-editorials/fret-not-overmuch-over-ibc-liquidation/ET Edit Quick takes, analyses and macro-level views on all contemporary economic, financial and political events. Should we worry that the working of the
India likely to witness sharp rise in insolvencies in the coming days: MS Sahoo – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/indicators/india-to-witness-sharp-rise-in-insolvencies-in-the-coming-days-ms-sahoo/articleshow/79796227.cmsSynopsis “The 2008 financial crisis had witnessed a sharp increase in corporate and personal insolvencies all over the world and that is an indication
Piramal group plans to merge its financial services business with DHFL | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/piramal-group-plans-to-merge-its-financial-services-business-with-dhfl-120121601474_1.html The plan depends on DHFL’s committee of creditors (CoC) accepting the offer over its rival Oaktree’s. The Piramal group is planning to merge its financial
DHFL: Oaktree Capital, Piramal Enterprise trump Adani Properties with new DHFL bids – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/oaktree-piramal-trump-adani-with-new-dhfl-bids/articleshow/79730420.cmsSynopsis Multiple people involved in the discussions said that Oaktree’s ₹36,646-crore offer has the quickest repayment timelines and a higher overall recovery but the
Tough call for DHFL lenders as Oaktree just manages to outbid Piramal | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/tough-call-for-dhfl-lenders-as-oaktree-just-manages-to-outbid-piramal-120121401069_1.html Adani does not make aggressive bid in fourth round; all offers have several conditions and banks will have to take a call by
Kapil Wadhawan submits proposal to repay DHFL creditors – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/kapil-wadhawan-submits-proposal-to-repay-dhfl-creditors/articleshow/79723430.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The proposal envisages complete repayment to all creditors within a period of 7-8 years, with upfront cash payment of Rs 9000 crores. This
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