Five years ago, any sign of weakness in the Rupee would have been the cue for RBI officials, Ministers and sundry economic commentators to lash
Category: Merits back reference
Corporate debtors must get shareholders’ approval to initiate insolvency process – Business Line–25.05.2018
Limitation Act to apply for NCLT/NCLAT proceedings, says new ordinance Shareholders’ approval through a special resolution is a must for a ‘corporate debtor’ to
Home buyers to get rights as ‘creditors’ of insolvent firms – Business Line–24.05.2018
The Union Cabinet on Wednesday gave its approval for an ordinance to amend the insolvency law so as to, among other things, treat home buyers
Bankruptcy relief for MSME promoters – Times of India–24.05.2018
Highlights Insolvency and Bankruptcy Code (IBC), has suggested that promoters of companies with turnover of up to Rs 250 crore will be allowed to bid
NCLT –‘Fraud’ land deal: 3 banks to challenge NCLT order – Times of India–24.05.2018
At least three private sector lenders — ICICI Bank, Standard Chartered and Axis Bank — are challenging the National Company Law Tribunal’s (NCLT) order that asked them
Rs 450-crore Input Tax Credit: Intelligence unit unearths fake GST bills business – The Financial Express–23.05.2018
The intelligence unit for the goods and services tax (GST) has unearthed a nexus among businesses that use fake bills to claim input tax credit
Insolvency: NCLAT puts on hold resolution process for Essar Steel | Business Standard News–23.05.2018
The National Company Law Appellate Tribunal (NCLAT) has put on hold the resolution process for Essar Steel. The appellate tribunal has asked the resolution professional, Committee of Creditors (CoC) and
NCLAT rejects Dalmia Bharat’s plea for status quo on bids for Binani Cement | Business Standard News–23.05.2018
The National Company Law Appellate Tribunal (NCLAT) on Tuesday declined to order a status quo on the bids to maximise the offer for debt-ridden Binani Cement by the two
GST: Lack of item-wise tax collection data proves a hurdle – Business Line–23.05.2018
Even after 10 months of the Goods and Services Tax (GST) rollout, tax authorities are not in a position to tell which sector or item
Bhushan breakthrough – Business Line–23.05.2018
Given that other NCLT cases may face a tougher road, the rules must be tweaked to ensure that the widest possible range of bidders participate
Income tax: Shell firms: I-T department to file pleas in NCLT to extract tax due – The Economic Times–23.05.2018
The Income Tax (I-T) Department is an “aggrieved creditor” to many de-registered shell companies and will petition the National Company Law Tribunal (NCLT) to recover tax dues of crores
Crisis-hit Jaiprakash Associates says no fraud in providing Jaypee Infra’s land as collateral – The Financial Express–22.05.2018
Crisis-hit Jaiprakash Associates Ltd (JAL) today said the company provided certain land parcels of its subsidiary Jaypee Infratech as additional collateral to its lenders and
NDA rakes in premium while UPA-II struggled with auto fuel subsidy – Business Line–22.05.2018
With retail fuel prices at an all-time high, there has been a clamour from industry bodies for the Centre to step up and offer some
Bankruptcy: Salvage what you can from your holdings in insolvent companies | Business Standard News–21.05.2018
Many retail shareholders of companies that are undergoing bankruptcy proceedings are watching developments closely. They are hoping that the bidder who gets the National Company Law Tribunal’s
Problem in bond market is root cause of banking sector crisis: CAG | Business Standard News–21.05.2018
Comptroller and Auditor General (CAG) of India Rajiv Mehrishi today said the root cause of banking sector crisis in India is the problem in bond market as the RBI acts as
RCom: NCLT appoints IRPs for Rcom, units–Economic Times–21.05.2018
The insolvency tribunal has named three separate interim resolution professionals (IRP) from RBSA Restructuring Advisors LLP to run Reliance Communications (RCom) and its two units, Reliance Telecom Ltd. (RTL)
GST update: Council asks Centre, states to quickly set up appellate authorities – The Financial Express–20.05.2018
The GST Council has asked the Centre and states to expedite setting up of appellate authorities for aggrieved entities to appeal against orders of the
Start cutting staff of PCA banks to help them survive – The Financial Express–19.05.2018
If these banks are to have any hope of turning around, fixing the staffing has to an integral part of any turnaround plan. At a
RBI’s Feb Circular: Finance Ministry keeps up demand for relief on insolvency trigger – The Financial Express–19.05.2018
Stressed PSBs said in Thursday’s meeting with the ministry that they would be affected by the RBI rule. The finance ministry will renew calls for
NCLT annuls Jaypee Infra’s land mortgage with lenders of Jaypee Associates – Business Line–19.05.2018-R
In a landmark ruling, the National Company Law Tribunal (NCLT) has concluded that Jaypee Infratech’s move to create a mortgage of 759 acres of land
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