India in a classic Darwinian mode of survival of the fittest: Uday Kotak
We are at a time where clean business and governance is coming to the fore, Kotak said.
Panel suggests automatic CCI approvals for deals under insolvency law
The Competition Law Review Committee, chaired by Corporate Affairs Secr...
NCLAT directs NCLT to decide on IBC plea against JP Associates in 6 weeks
Hearing the matter, a three-judge bench of the NCLAT headed by Chai...
Banks recover ₹6,000 crore in Prayagraj sale
Financial creditors took a 52% haircut on their ₹12,500 cr of loan exposure to the company.
Indiabulls Realty’s western region legal head joins boutique law firm RGM Legal
RGM Legal focuses mainly on structuring, corporate M&A, PE, venture capital and Fintech space and with Shah joining the firm, it will have real estate transaction and dispute resolution practice to cover commercial disputes, insolvency & bankruptcy (IBC) and arbitration amongst other things.
Suraksha Realty hopeful of getting favourable vote of lenders, home buyers on Jaypee bid
A Committee of Creditors (CoC) on Saturday decided that home buyers and lenders of Jaypee Infratech will vote on the bids of state-owned NBCC Ltd and private sector firm Suraksha Realty at the same time.
How to stop India from slowing down: ET India Dialogue's first edition decodes the fixes
Participants were of the view that India faces a slowdown challenge even as it grows at close to 7%. Solutions offered included immediate fiscal stimulus to aggressive asset sales.
NCLAT directs ED to file final affidavit in BPSL assets attachment matter
A two-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya also asked the ED to clarify about its role after the attachment of assets of Bhushan Power and Steel Ltd (BPSL). The NCLAT has directed to list the matter on December 12 for the next hearing. The appellate tribunal was hearing a batch of petitions, against the attachment of BPSL assets.
DHFL promoters gave personal guarantees to Rs. 80,000-cr Loans
DHFL became the first financial services company on Monday to be admitted to the bankruptcy courts after the rules were changed last month. The Reserve Bank of India has already superseded the board and appointed an administrator.
Essar Steel: Mittals seek immunity from probes
Worries stem from BPSL case, where ED attached assets of the company after it was taken over by JSW Steel.
Where companies are under huge debt pressure you tend to see white collar crime: Samir Paranjpe, Grant Thornton
"I think it’s very clear that both small and large companies are equally impacted today. So we are seeing extreme cases where very large companies are being affected by fraud and companies with turnovers of as little as 300 million rupees are also being impacted," he said.
First personal insolvency petition filed in Amaravati
Omkaram Venkata Ramana, who had stood personal guarantor to five firms that defaulted on Rs 38.66 crore of bank loans, filed the petition to initiate personal insolvency resolution process, which his counsel said would entitle him to an interim moratorium on all his liabilities.
ET Awards 2019: We’re willing to hear, react & intervene when necessary, says Sitharaman
The Union finance minister said the government is working with states to further rationalise Goods and Services Tax (GST) rates and will announce major infrastructure projects to provide an investment boost by the middle of December.
Reserve Bank sends DHFL to NCLT for debt resolution
First financial services company to go for bankruptcy resolution.
SBI refuses to fund Patanjali’s Ruchi Soya buyout on its own
As much as Rs 3,700 crore of the acquisition cost was supposed to have been funded by bank loans with Patanjali infusing Rs 600 crore from its own internal accruals. Bankers are also wary of funding the home-grown consumer goods company after rating downgrades by rating agencies Care and ICRA in October.