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 ...
NCLAT rejects PepsiCo plea for release of machinery from Oceanic Tropical
The NCLAT observed that Pepsico India Holding cannot derive advanta...
Structural reforms in agri,exports must to revive growth: Amitabh Kant
Admitting that the structural reforms like GST, and IBC etc had some impact in growth, he said in the long-run these reforms will take the country to higher growth path.
Rajya Sabha passes IBC amendment, restoring primacy of lenders in insolvency cases
She referred to the Essar Steel insolvency case where the lenders and operational creditors have been treated at par by the bankruptcy court for distribution of auction proceeds.
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.
NCLAT's Essar Steel ruling set aside: Everything you need to know
The Supreme Court on Friday set aside the July 4 order of the NCLAT approving ArcelorMittal's Rs 42,000-crore bid for acquiring debt-laden E...
ET Explains: How Essar Steel verdict changes the rules of the game for future bankruptcy cases
It was one of India's original Dirty Dozen referred by the RBI to NCLT for resolution under IBC.
Challenges have made insolvency law stronger, says IBBI chief
The Insolvency and Bankruptcy Board of India chief M S Sahoo said that prompt corrective actions have been taken for the insolvency law (IBC) to address the stakeholders' needs and thereby making the legislations robust. Since its implementation, many of its provisions were challenged and the government also carried out various amendments to the law.
FM: working on issue of ED attaching assets of companies under IBC
Several companies, including BPSL, that are undergoing proceedings under the IBC are also facing investigations by the ED over alleged money laundering by their promoters. FM Sitharaman said the ministry is looking to resolve the issue sooner.
Need ED's satisfaction over dues payments made by Sterling promoters: NCLAT
The tribunal also said the promoters will have to settle their case with the creditors within a specified period.
View: The growth grind-down is a fallout of policy blunders and failure to revive public funding
India should revive public funding for MNREGA, pump funds into healthcare and areas where it matters.
Nationalisation of distressed NBFCs only plausible silver bullet
As a construct, this isn’t all that different from the template used for non-financial companies under IBC.
View: How effective regulations can act as the lynchpin for growth
Effective regulations will deliver growth for both large corporations in bankruptcy courts and small businesses being brought under the ambit of the GST. At a fundamental level, the regulatory changes to the IBC or issues around GST ITC are focused on improving the quantity and quality of credit availability in the economy.
View: Why India's mega bank mergers move may not yield the desired results
Government’s forced mega merger of public sector banks could scupper economic recovery.
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