Haldiram's, Vedanta, Indonesia billionaire in race for Videocon
The process to find a buyer for Videocon started in August. All parties have submitted formal expressions of interest (EoI) and will soon start due diligence.
NBFCs with Rs 500 cr assets can go for insolvency resolution
RBI can now seek resolution of NBFCs having assets worth of at least Rs 500 cr u...
Market Movers: What changed for D-Street while you were sleeping
The index formed a similar indecisive candle on the weekly scale. A hold abo...
Home buyers have filed over 1,800 cases under IBC: Government
Citing the information received from NCLT, Minister of State for Corporate Affairs Anurag Singh Thakur said that a total 1,821 cases have been filed by homebuyers against builders since June 2018 under the Code.
Govt plans to shield IBC cos from PMLA action against promoters
FM Nirmala Sitharaman indicated that a system may be worked out under which action related to the PMLA against the promoter doesn’t impact a company’s resolution under the IBC. The ED’s action has resulted in main applicant JSW reviewing its offer as several assets of one of the most highprofile IBC cases will not be part of the transaction.
Indonesian billionaire joins race for Videocon
Videocon Industries owns a stake in the prized Ravva oil field in the Krishna-Godavari basin.
IBC may have to be tweaked: SBI, government plan priority status for real estate AIF
India’s largest lender SBI and its arm SBI Capital Markets, which is playing a key role in setting up the fund, have started reaching out to other banks and financial institutions to participate in the AIF — a regulatory parlance for privately pooled vehicles such as venture capital, private equity, and real estate funds. A bank can invest up to 10% of the corpus of an AIF.
NCLAT asks Sebi to file reply on revised share delisting norms for cos under insolvency
The appellate tribunal has directed to list the matter on November 18 for orders.
New IBC rules to cover financial service providers
The corporate affairs ministry has notified the Insolvency and Bankruptcy Rules, 2019. It will provide a generic framework for insolvency and liquidation proceedings of systemically important Financial Service Providers (FSPs) other than banks, an official statement said.
No 5 per cent slump; India continues to be fastest growing economy: Govt
Union Minister Anurag Thakur said India continues to the fastest growing economy in the world even though many countries in the world are facing economic slowdown. He also said that a number of steps are being taken by the government to strengthen the economy that includes merger of banks and tax concessions to industries.
Essar order a breather for 535 corporate debtors facing liquidation by December
Under the SC ruling, NCLT can grant an extension for debtors facing liquidation
NCLAT rejects PepsiCo plea for release of machinery from Oceanic Tropical
The NCLAT observed that Pepsico India Holding cannot derive advantage of its own agreement with Oceanic Tropical Fruits over the Insolvency & Bankruptcy Code (IBC), which has provision of termination in case of bankruptcy or liquidation or similar situation to get the assets back.
NCLT directs to initiate insolvency proceedings against AVP Buildtech
A two-member NCLT bench has appointed an interim resolution professional (IRP) to run the affairs of the company and also declared moratorium, prohibiting the lenders from recovering any amount during this period.
After Market: Telecom stocks party, banks gain on IBC ruling; sell signal in 89 stocks
Nifty Smallcap ebbed 0.19% to 5674 while Nifty Midcap climbed 0.32% to 16804.
Essar Steel order will bring certainty to resolution process: Ficci
Upholding of the doctrine that financial creditors will rank ahead of operational creditors bodes well for the Indian banking industry as well as potential foreign investors, Ficci President Sandip Somany said. The industry body also welcomed the court order that the commercial decisions of the CoC will not be open to judicial review.
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