The Committee of Creditors (CoC) of Binani Cement Limited (BCL) will meet on Thursday, May 10 to decide on the ₹8,000 crore bid by Kumar
Category: Legal
Insolvency and Bankruptcy Code: Government considers time limit for withdrawal of cases under IBC ; The Economic Times–08.05.2018
Companies referred to bankruptcy courts may not be allowed to leave the process once bids have been invited or a resolution plan has been accepted. The government
Insolvency: Promoters submit Rs 100 bn revival plan for Jaypee Infratech | Business Standard News–08.05.2018
Jaypee group chairman Manoj Gaur made a fresh effort to gain back control of Jaypee Infratech — a real estate company for which another firm has already been named the
Binani Cement lenders to meet on Wednesday to mull UltraTech revised offer | Business Standard News–08.05.2018
The Committee of Creditors (CoC) of Binani Cement is likely to meet on Wednesday this week to consider the revised offer of Rs 79.60 billion from UltraTech Cement for
From canteen workers to arbitration, here are the key court orders | Business Standard Column–08.05.2018
If an insurance policy states that repudiation of a claim or denial of the insurer’s liability cannot be referred to arbitration, the insured person cannot invoke arbitration
Insolvency regulator shows teeth – Business Line–08.05.2018
Sending a strong signal, insolvency regulator IBBI’s Disciplinary Committee (DC) has suspended the registration of an insolvency resolution professional (IRP) Bhavna Sanjay Ruia for one
Mapping insolvency: ArcelorMittal may pay off dues as ‘goodwill gesture’ | Business Standard News–04.05.2018—-*****
ArcelorMittal made a strong pitch for eligibility before the committee of creditors (CoC) on Wednesday, but if asked to pay dues on account of defaulting companies,
E-way Bill: Digital copy of E-way bill enough to give transporters right of way: Court–Economic Times–04.05.2018
Tax authorities cannot seize goods just because they-’re not accompanied by a physical copy of the electronic way bill (eway bill), the Allahabad High Court said in
A sensible ruling on Binani Cement–Economic Times–04.05.2018
The National Company Law Tribunal (NCLT) is right to direct the creditors of Binani Cement to consider UltraTech Cement’s higher bid, even as it has
IBC will deliver but it needs time–Economic Times–04.05.2018
Rashesh Shah Since the Insolvency and Bankruptcy Code (IBC) came into effect about a year ago, one refrain has been the lack of progress on
Resolution professional valued Binani Cement assets improperly: NCLT | Business Standard News–04.05.2018—–*****
The Kolkata Bench of National Company Law Tribunal (NCLT), in its order, has upheld the allegations filed by the promoter of Binani Cement against the company’s resolution professional, Vijay
RERA–Still under construction | Business Standard Editorials–04.05.2018
The Real Estate (Regulation and Development) Act, 2016, or Rera was hailed as the panacea for the various ills plaguing the Indian real estate sector. The idea behind Rera was to create a legal
GST–Firms to challenge input tax credit notices, revenue department’s stand | Business Standard News–04.05.2018
Some of the companies that have received notices to reverse input tax credit in service tax are planning to challenge the revenue department’s stand at the commissioner
ArcelorMittal offers to clear dues of Uttam Galva and KSS Petron – Business Line–04.05.2018
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
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
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