The Essar Steel matter has raised a valid and crucial point of inordinate delays which is a big concern as it was the important provision of IBC, time bound resolution. If this purpose fails, the whole motive of IBC will fall apart.
Homebuyer is a person who buys or expects to buy a house. And A promoter is an individual or organization that helps raise money for some type of investment activity.
The old and archaic provisions to deal with sickness arising out of financial difficulties have been replaced by Insolvency and Bankruptcy Code, 2016.
the restriction under section 185(1) was not applicable where loan or guarantee is permissible under other provisions of Companies Act, 2013
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
Both the IBC and RERA have the provisions where the probability for the conflict in their operations are very high.
In this article we will discuss about the fast track method of filing an application under corporate insolvency resolution process.
The National Company Law Tribunal has dismissed an insolvency application filed by Gemini Innovations, raising doubts over the “unnatural” facts listed by the company in its filing
The Insolvency and Bankruptcy Code (Amendment) bill 2017, describes the Financial Creditor and the Operational Creditor and the ambit of its applicability on creditor-debtor relationship.
The IBC has introduced new and distinct concepts of ‘Financial Creditor’ and ‘Operational Creditor’ as opposed to the Companies Act, 2013 which merely introduced the term ‘creditor’, without any classification thereof.
A detailed article about the previous Insolvency and Bankruptcy law and changes that have been improvised post amendment bill in 2017.
To initiate recovery procedure one can approach the National Company Law Tribunal which exercises the power to dispose cases under Insolvency Code.
Introduction Non-banking finance companies and mortgage lenders, which control the lion’s share of developer loans, are using all the tricks in the marketing and finance trade books to help realtors still smarting from the pains inflicted by the note-ban, Rera and GST, to sell their inventory so that these lenders secure their monies. According to … Continue reading “Soaring NPAs, NBFCs and HFCs at rescue!”
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.
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.
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