Category: IBC-SEBI

Clipped from: https://www.deccanherald.com/ SC seeks joint response from Finance Ministry and RBI Supreme Court. Picture Credit: PTI File Photo The Supreme Court on Thursday(June 4) questioned the

There’s an element of subjectivity in banking audits – The Hindu BusinessLine

Clipped from: https://www.thehindubusinessline.com This process may be subjected to artificial intelligence-led technique. Meanwhile, auditors tend to rush through with the process Audit of financial statements of

Preserve the IBC | Business Standard Editorials

Clipped from: https://www.business-standard.com Suspension should not result in unintended consequences The Union Cabinet has cleared the proposal to suspend the Insolvency and Bankruptcy Code (IBC) for six months, and it

IBC: Government’s Covid-19 insolvency relief may be a double-edged sword – The Economic Times

Clipped from: https://economictimes.indiatimes.com/ The directives of the Central Government to tide over these trying times are laudable. However, many of these changes are myopic and will

Suspension of IBC can affect resolution efforts and shift focus to recovery | Business Standard News

Clipped from: https://www.business-standard.com On Wednesday, the Union Cabinet gave approval to the suspension of the IBC for Covid-19-related stress It was decided to hold in abeyance

Nod for Ordinance to amend Insolvency Code – The Hindu BusinessLine

Clipped from: https://www.thehindubusinessline.com Insolvency proceedings to be suspended for Covid-related debt up to a year The Cabinet on Wednesday approved the promulgation of an ordinance to

Four shortlisted for placing financial bids for Jet Airways – The Hindu BusinessLine

Clipped from: https://www.thehindubusinessline.com Jet Airways’ Resolution Professional has short-listed four companies for placing a financial bid for acquiring Jet Airways. While nearly seven entities had submitted

‘FY21 to witness significantly lower realisations under IBC’ – The Hindu BusinessLine

Clipped from: https://www.thehindubusinessline.com Outbreak of Covid-19 pandemic and suspension of new proceedings key reasons Financial creditors could realise about ₹60,000 to ₹70,000 crore in FY21 through the Insolvency

IBBI slaps Rs 34.22 lakh penalty on an Insolvency Professional – The Hindu BusinessLine

Clipped from: https://www.thehindubusinessline.com/ Penalty levied for moratorium violation by allowing transfer of assets of a corporate debtor during CIRP Insolvency regulator IBBI’s Disciplinary Committee(DC) has slapped

IBC realisations for financial creditors may drop 40% to Rs 60,000 crore in FY21 – The Financial Express

Clipped from: https://www.financialexpress.com Against the stipulated resolution period of 330 days, the average time taken for completion of the CIRPs yielding approval of resolution plans has

Insolvency halt gives a rude jolt to boutique IRPs – The Economic Times

Clipped from: https://economictimes.indiatimes.com Several IRPs and lawyers are of the view that boutique firms largely dependent on operational creditors and small businesses will face a double

Cabinet okays ordinance to amend insolvency law; defaults due to COVID out of IBC ambit – The Economic Times

Clipped from: https://economictimes.indiatimes.com/ Payment defaults from March 25 — the day when the nationwide lockdown to curb coronavirus infections began — would not be considered for

Extension of moratorium on loan repayment to affect liquidity conditions of NBFCs: Icra – The Financial Express

Clipped from: https://www.financialexpress.com Most NBFCs carried adequate on-balance sheet liquidity as of March 2020, which, along with access to funding lines, would be sufficient to meet

‘Not maintainable’: SC rejects plea to exclude lockdown period for calculating limitation for cheque – The Financial Express

Clipped from: https://www.financialexpress.com A bench headed by Justice R Banumathi, which heard the matter through video-conferencing, said that the issue raised in the plea relates to

Banking sector needs recapitalisation of Rs 4 lakh crore: Uday Kotak – The Economic Times

Clipped from: https://economictimes.indiatimes.com The banking sector has loans of Rs 100 lakh crore and a capital of Rs 11 lakh crore to 12 lakh crore while

IBC news: IBC tweak challenges flagged – The Economic Times

Clipped from: https://economictimes.indiatimes.com Many lenders, particularly state-owned banks, are not in a hurry to initiate IBC proceedings. MUMBAI: The road towards changing the Insolvency & Bankruptcy Code

MSMEs call govt’s decision for funding NPA accounts historic; hail approval to revised definition – The Financial Express