The Delhi Bar Association has ordered the big four consulting firms i.e. KPMG, Deloitte, PwC and EY to refrain from indulging in legal practice with immediate effect.
The government could soon promulgate an ordinance to make changes to the Insolvency and Bankruptcy Code that will provide relief to small businesses and homebuyers
Steps taken by the resolution professional (RP) for Alok Industries to recover trade outstanding to the tune of Rs 11,622 crore from 5,293 debtors
The government must amend the IBC to recognize the legitimate claim of home buyers. After all, they use their lifetime savings to invest in a house.
Eleven public sector banks are under the radar of the Reserve Bank of India (RBI) over the issue of non-performing assets.
The government plans to have more benches of the National Company Law Tribunal on the basis of case load and rising number of insolvency cases coming up before the NCLT.
India’s sovereign bonds rallied after the central bank allowed lenders to spread out trading losses, a second policy decision in two weeks to revive a debt market that had sold off for seven months.
Jyoti Structures, one of the 12 entities from the first central bank list to be taken to bankruptcy courts, would head into liquidation, inflicting a loss of Rs.7,000 crore on the affected bankers, people in the know told ET.
The Government and the Reserve Bank of India (RBI) may need to venture in to stay away from an uncommon occasion in Indian banking.
As one of the most eventful quarters for banks comes to a close, lenders’ balance sheets are hit by a triple whammy that could take them a while to recover.