Insolvency And Bankruptcy Code

Government, these books say, has been remarkably supportive of an industry that has helped hasten downward mobility and widen economic inequality

The draft Bill to amend the Companies Act is expected to be ready by the second quarter of the current fiscal year

The Supreme Court on Tuesday held that the New Okhla Industrial Development Authority (NOIDA) is not a financial creditor but an operational creditor under the Insolvency and Bankruptcy Code (IBC).

Business Standard brings you the top headlines on Wednesday

In August 2008, the RBI allowed banks to restructure bad debt. It was a one-time measure put in place till June 30, 2009, but the forbearance ended almost a decade later

Amazon moves application, says Future Retail and banks are colluding to deny its rights.

A former managing director of a Dutch company had moved tribunal seeking payment of salary arrears from its Indian arm.

IBC provision requires initiation of CIRP to proceed against personal guarantors

It was 39.3 per cent as of March 2021, and as high as 46 per cent till March 2020, according to the Insolvency and Bankruptcy Board of India (IBBI) data

Smaller companies popular for bets, keeping retail investors belief there is a possibility of bigger gains from a smaller base.

Financial and operational creditors owe money to companies facing insolvency proceedings and so recovery has to be an important factor while achieving resolution of stressed assets, he noted

Admitting that there have been concerns, Rao said one needs to understand that the value of the asset may have already deteriorated by the time it comes up at the courts

Union Budget in February talked about updating the Insolvency and Bankruptcy Code to enable cross-border dispute resolution.

The tactic is not new for Reliance. In 2020, Reliance Industries acquired 37.7% stake in textile manufacturer Alok Industries Ltd for Rs 250 cr.

Read out the top news headlines and other important topics for the day and related information in the section below.

Protracted litigation, safeguarding bankers' interest also led to the action

SITI Networks has received a notice issued by the Mumbai bench of the National Company Law Tribunal over the petition filed by HDFCL, the Essel group firm said in a regulatory filing on Thursday

Even the various resolution processes have witnessed the recovery of debt of just 31 per cent on an average, said the data from the Insolvency & Bankruptcy Board of India

Firm has been active in Indian steel space the past few years. Earlier in the month, it completed acquisition of Crest - under IBC - for a consideration exceeding Rs 600 crore

According to an official release, it has been noticed that there has been a substantial delay in the completion of voluntary liquidation process