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.
Swedish telecom equipment manufacturer Ericsson has moved to Delhi High Court against Aircel and its units to get their debts back worth Rs.251.40 crore
India has jumped 30 spots to number 100 in the latest Ease of Doing Business report for 2018 released by the World Bank today.
A glance at how RERA impacts moneylenders, and how it can be alleviated.
An appellate tribunal has stayed the order of the National Company Law Tribunal (NCLT) allowing the promoter of MBL Infrastructure to bid for his insolvent company. It also stayed the resolution plan for the company. The Kolkata bench of the NCLT had allowed the promoter of MBL Infrastructure, Anjanee Kumar Lakhotia, to place a resolution … Continue reading “Appellate tribunal stays NCLT order allowing promoter to bid for firm”
The committee of lenders (COC) of LancoInfratech (LIPL) determined to are searching for an extension of time from National Company Law Tribunal (NCLT) to complete the continuing insolvency decision process as the lenders need to have a full clarity on feasible situations of decision. “The COC had held a meeting on Monday and determined to … Continue reading “Lanco lenders to searching for time extension to complete insolvency process”
Tribunals have been predicted as a solution to judicial delays and a tool to harness fee-effectiveness, accessibility, expedited functioning, professional understanding and freedom from technicalities getting used as pace-breakers. Nevertheless, fact seems pretty unique as a long way as opposition appeals are worried. The Indian competition adjudicatory shape includes the Competition Commission of India (CCI) … Continue reading “NCLAT getting clogged up; Appellate body has no competition regulation professional”
India horrific loans presently have soared to whopping Rs 9.5 lakh crore. It’s not only a huge quantity, it’s a large monster that is eating away India’s financial increase. IMF in a document said India’s key banks seem resilient, however the device is situation to huge vulnerabilities. “The economic sector is going through great demanding … Continue reading “Big terrible loan monster is eating away India’s economic growth: IMF”
Indiaʹs new financial disaster law is getting most traction from an uncommon set of lenders, people with the least to benefit from pushing corporations into the insolvency process. Operational or unsecured creditors, who have dues that are not backed via any collateral, might be los angeles st in queue to be repaid once an insolvency … Continue reading “Why closing-in-queue creditors report maximum insolvency lawsuits in India”
The Reserve Bank of India has suggested banks to report for insolvency complaints on their very own rather than watching for its commands.
National Company Law Tribunal (NCLT) declined to extend the deadline for finalizing a rescue plan for the insolvent firm beyond the mandatory 270-day
New Delhi: The Supreme Court on Wednesday stayed an order of the National Company Law Tribunal (NCLT) that allowed the government to take control of troubled builder Unitech Ltd by suspending its board. “NCLT should not have passed the order. We direct the stay of the order dated 8 December,” said Chief Justice Dipak Misra. The … Continue reading “Supreme Court stays NCLT order allowing government to take control of Unitech”
The complaint handling regulations have been implemented by Insolvency and Bankruptcy Board of India (IBBI). In the procedure, the complaint filing fee will be refunded to the stakeholder in case the complaint is found to be not “frivolous or malicious”. This will be applicable to all stakeholders, including creditors, debtors and service providers. A stakeholder … Continue reading “Complaint handling regulations are implemented by IBBI”
The government has set up a 14 member panel to button down the increasing issues under insolvency and bankruptcy law. The panel members include Insolvency and Bankruptcy Board of India (IBBI) Chairperson M S Sahoo, RBI Executive Director Sudarshan Sen, former Lok Sabha Speaker T K Viswanathan, Edelweiss Group Chairman and CEO Rashesh Shah, Shardul Amarchand Mangaldas … Continue reading “14-member panel to be set to button down issues in insolvency law”
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