DHFL resolution: Company receives no objection from RBI, files application with NCLT – The Economic Times

Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/dhfl-resolution-company-receives-no-objection-from-rbi-files-application-with-nclt/articleshow/81215494.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis In November 2019, the Reserve Bank had referred DHFL, the third-largest pure-play mortgage lender, to the National Company Law Tribunal (NCLT) for insolvency

Getting prepacks to work well: The framework must refrain from stipulating a Swiss Challenge method – The Financial Express

Clipped from: https://www.financialexpress.com/opinion/getting-prepacks-to-work-well-the-framework-must-refrain-from-stipulating-a-swiss-challenge-method/2199902/ Prepacks are indispensable in insolvency legal infrastructure, especially given the imminent Covid-19-induced deluge of distress—the IMF recently advised policymakers regarding ‘pent-up bankruptcies’. The

jet airways: NCLT rejects Jet employee unions’ plea to share details of the resolution plan – The Economic Times

Clipped from: https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/nclt-rejects-jet-employee-unions-plea-to-share-details-of-the-resolution-plan/articleshow/81171658.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The petitions argued that the employees of the corporate debtor (Jet Airways) are its assets and are interested in its successful resolution. The

DHFL case: Auditor Grant Thornton unearths another fraudulent transaction of Rs 6,182 cr – The Economic Times

Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/dhfl-case-auditor-grant-thornton-unearths-another-fraudulent-transaction-of-rs-6182-cr/articleshow/81149644.cmsSynopsis The administrator of the company received an initial report from the professional agency appointed as the transaction auditor indicating that there are certain

Jet Airways’ would-be owners push start of operations to July; pending cases indicate further delay – The Economic Times

Clipped from: https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/jets-would-be-owners-push-start-of-operations-to-july-pending-cases-indicate-further-delay/articleshow/81136680.cmsSynopsis The consortium of London-based investor Kalrock Capital and Gulf-based businessman Murari Lal Jalan had in October 2020 got approval for its resolution plan

Jet Airways’ revival plan is facing heavy headwinds. But the real turbulence will start once airborne. – The Economic Times

Clipped from: https://economictimes.indiatimes.com/prime/transportation/jet-airways-revival-plan-is-facing-heavy-headwinds-but-the-real-turbulence-will-start-once-airborne-/primearticleshow/81096731.cms SynopsisDespite all the hurdles it faces, an airline with a cleaned-up balance sheet will be more attractive to foreign investors in the short-term

LLP compliance set to get stricter as MCA applies sections of Companies Act to LLP Act – The Economic Times

Clipped from: https://economictimes.indiatimes.com/news/economy/policy/llp-compliance-set-to-get-stricter-as-mca-applies-sections-of-companies-act-to-llp-act/articleshow/81093228.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis ​A total of eight sections relating to the register of significant beneficial owners, disqualifications of directors, conduct of inquiries and inspections and non-cognizable

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