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.
IBC proceeds formula may be reworked to avoid squabbles, legal delays
Distribution of resolution booty has been a key factor behind extended ...
Resolution delay forces banks to put NPAs on sale
Assets worth Rs 40,000 crore are up for sale in sectors such as power, roads, telecom in th...
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.
Jaypee Infra: Voting on resolution plans likely December 8-11
The Committee of Creditors (CoC) of the Jaypee Infratech (JIL) have planned to start the voting process on the resolution plans for the bankrupt company on December 8 and it would go on till December 11.
View: Haircuts for Indian finance — bald or bold? Signs from the DHFL case
Whether an overworked IBC salon can deliver the equivalent of a 10-minute trim is the biggest question now.
Homebuyers seek PM's help on right to take errant realtors to NCLT
Last year, the government amended the Insolvency & Bankruptcy Code to treat homebuyers as financial creditors and allowing them to initiate corporate insolvency resolution process under Section 7 of the Code against defaulting promoters. A group of builders challenged the status in the Supreme Court. However in August, the apex court rejected their plea
Aviva Life faces IBC trial over ‘not paying landlord’
Aviva is facing proceedings under the IBC, for not meeting payment obligations to the Apeejay Group.
Essar Steel verdict: What's next for bankruptcy law?
India's insolvency resolution framework has truly arrived after a tortuous journey of three years. Banks will finally be able to keep out un...
Stalled residential projects worth $66 billion face bankruptcy proceedings
As per the Insolvency and Bankruptcy Board of India, a total of 115 insolvency cases have been filed as of September 2019 under real estate category. Of these 87 cases are under process while 28 are closed. The recent stressed asset deal has been the sale of an IT park in Bengaluru by Cafe Coffee Day Enterprise for USD 385 million to reduce its debt.
New group insolvency framework in the works
The report also said that insolvency proceedings of companies which are not categorised as holding, subsidiary or associate but are intrinsically linked with other companies undergoing insolvency be similarly consolidated
Bankruptcy law comes of age
India’s insolvency resolution framework has truly arrived after a tortuous journey of three years. Banks will finally be able to keep out unscrupulous promoters with the law establishing the primacy of financial lenders on asset proceeds.
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.
NCLAT asks ED to release Bhushan Power's attached property
The National Company Law Appellate Tribunal (NCLAT) on Monday put JSW Steels Rs 19,700 crore payment to acquire Bhushan Power and Steel (BPSL) on hold and asked the Enforcement Directorate (ED) to release the BPSL's attached properties.
Indonesian billionaire joins race for Videocon
Videocon Industries owns a stake in the prized Ravva oil field in the Krishna-Godavari basin.
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