ArcelorMittal, the world’s largest steel company, has offered to pay the ₹8,500-crore debt of both Uttam Galva Steels and KSS Petron as a “goodwill” gesture
Category: Legal
Insolvency deadline ends today: Thriveni plan cancelled; Lanco may face liquidation | The Indian Express–04.05.2018
The company is part of a dozen troubled companies —with a combined debt of close to Rs 2.4 lakh crore — which the Reserve Bank
Bankruptcy: View: Government should not let bankruptcy resolution be taken for a ride by crony capitalists – The Economic Times–02.05.2018
Those who live by the sword die by the sword. Is crony capitalism in India to be slayed by cronies? Unless specific, urgent attention is paid to
Operational creditors file application to stop Alok’s liquidation – The Economic Times–02.05.2018
A group of 10 operational creditors has filed an application objecting to the proposed liquidation of the debt-laden Alok Industries under insolvency proceedings intensifying the fight to save a
Labour pains: Not pushing labour reforms a mistake, but still not too late – The Financial Express–02.05.2018
Given how India is fast losing its competitive edge in exports, and enterprises at home are increasingly automating operations, it is unfortunate the government doesn’t
Bhushan Power: Final call on second round of bids on Tuesday – The Financial Express–01.05.2018
The committee of creditors (CoC) for Bhushan Power and Steel are in the process of deciding whether to go for a second round of bidding
RBI: RBI note on data localisation raises hackles in the US – The Economic Times–01.05.2018
Leading Indo-US business advocacy groups have raised concerns with authorities over the Reserve Bank of India’s directive asking payment companies to store data locally. While
Insolvency process: Adhunik Metaliks RP likely to seek more time — The Financial Express–01.05.2018
For Adhunik Metaliks, there are only two resolution applicants — UK-based Liberty House and Maharashtra Seamless of the DP Jindal Group. In an attempt to
How Aadhaar can work: Activists opposing private sector use throw out the baby with the bathwater–Times of India–01.05.2018
Well-meaning activists opposing private Aadhaar use are trying to throw the baby out with the bathwater. Inflammatory articles notwithstanding, there are genuine concerns with privacy
IBBI must thwart bankruptcy getting stymied–Economic Times–01.05.2018
The rules set to implement the Insolvency and Bankruptcy Code would appear to be in conflict with the public policy goal of securing the highest
NCLAT to hear NuMetal, ArcelorMittal petition in Essar Steel case on May 17 | business news | Hindustan Times–01.05.2018
The National Company Law Appellate Tribunal (NCLAT) on Friday agreed to hear cross petitions filed by Essar Steel bidders NuMetal Ltd and ArcelorMittal India Ltd
RERA: 1 year of RERA: Not much has changed for the homebuyer – The Economic Times–30.04.2018
Most states only have an interim regulator while only 3 states Maharashtra, Madhya Pradesh and Punjab have established a permanent one so far. On May
RERA: Only three states have permanent regulator – The Financial Express–30.04.2018
Only 14 states have functional web portals, and just 20 have notified the rules. However, all the seven Union Territories have notified them. While the
Resolving individual insolvency cases a distant dream | Business Standard Column–30.04.2018
The erstwhile regulatory system for liquidation or resolution or reconstruction of sick companies operated under fragmented laws. The Insolvency and Bankruptcy Code can be regarded as a
From third-party rights to arbitration, here are the key court orders | Business Standard News–30.04.2018
Interim relief for tea garden workers The Supreme Court has asked four state governments to pay interim relief to tea estate workers, some of whom denied wages
Uncertainty over how RERA provisions will play out for realty firms in NCLT | Business Standard Column–30.04.2018
The Insolvency Law Committee in its review of the operations of the Insolvency and Bankruptcy Code (IBC) has sought to give a voice to stressed-out homeowners where
‘Early initiation prevents ballooning of insolvency’ – Business Line–30.04.2018-R
IBC ensures minimum liquidation value for operational creditors: Insolvency and Bankruptcy Board head In a bid to prevent chronic defaulters and fraudulent promoters from regaining
Rera: Biggest challenge is to keep builders compliant, says Maha Rera chief – Times of India–30.04.2018
As the Real Estate (Regulation and Development) Authority Act completes one year of implementation, the biggest challenge is to keep the builders compliant of the
CAs, bankers in a rush to pass insolvency exam – Rediff.com Business [published on 04.07.2017 ]–27.04.2018
Test on lines of IIT-JEE With the Reserve Bank of India (RBI) asking banks to take defaulters through the insolvency process, the role of insolvency
Systems, practices need to develop before allowing pre-packs: IBBI chief – Business Line–27.04.2018-R
Business enterprises may have to wait for some time to use the concept of “pre-packs” as part of the insolvency regime, Insolvency and Bankruptcy Board
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