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 under the insolvency law.
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...
Is IBC the best way to treat bankrupt financial institutions? Here are some clues
For financial firms the appearance of stability is importan...
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.
Law firms are laughing all the way to the bank amid swelling IBC, GST cases
There's no slowdown for lawyers: In just the past two years, the legal sector's fee income has jumped by 62%.
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.
Govt plans to amend IBC to ring-fence buyers of stressed assets from prosecution
The proposed amendment will help make the insolvency process more attractive for the bidders.
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.
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.
IL&FS' PE arm IIRF moves NCLT against DB Realty
IIRF defaulted in repayment of Rs 108 crore. BSE-listed developer is one of the largest domestic realty-focused funds with investments in firms like Wadhwa Group, Noida Trade Towers and Aparna Infra Housing. IIRF is a part of the IL&FS Investment Managers (IIML), which has raised and managed over $3.5 billion.
Progress on stressed thermal asset resolution remains slow with only 10% of affected capacity resolved: ICRA
The all India electricity demand growth slowed down to 4.4% in the first six month of FY20, from 6% growth witnessed in the corresponding period of previous year. The slowdown can be attributed to lower demand from household & agriculture.
Brokerages maintain 'buy' on SBI, see up to 42% upside
Japanese brokerage, Nomura, said SBI’s Q2 asset quality beat its estimates.
India not on global investors’ radar in a big way right now: Punita Kumar Sinha
Most of the buy calls are going towards either China or other emerging or European markets.
Suraksha’s Jaypee bid gets higher score than NBCC’s, over to voters
The primary areas where Suraksha scored over NBCC are fund infusion and debt-asset swaps with lenders. Suraksha has offered to bring in Rs 2,000 cr as working capital to complete construction in the next three years and will retain the Yamuna Expressway with itself. The realtor has also proposed to set aside land worth Rs 100 crore for the welfare of homebuyers.
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.
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