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Jet Airways crisis: Lenders' consortium picks Grant Thornton as resolution professional for cash-strapped airline
Fp Staff •The bankers to Jet Airways on Tuesday moved the National Company Law Tribunal to recover their dues of over Rs 8,500 crore.
Financial, operational creditors recover nearly half of total claims worth over Rs 1.42 lakh crore in 88 insolvency cases
•The Insolvency and Bankruptcy Code (IBC) seeks to provide market-determined resolution for stressed assets in a time-bound manner
NCLAT gives conditional nod to ArcelorMittal's Rs 42,000 crore resolution plan for debt-ridden Essar Steel
•NCLAT said there is no stay on the Resolution Professional of Essar Steel to disburse the funds among financial and operational creditors of the company
TCS, Wipro, IBM, 3 others shortlisted by Reserve Bank of India for setting up Public Credit Registry
•The Public Credit Registry would be the single point of mandatory reporting for all material events for each loan, notwithstanding any threshold in the loan amount or type of borrower.
At IBBI-FICCI huddle in New York, Arun Jaitley says bankruptcy code-led stressed assets sale 'great opportunity for foreign investors'
Nikhila Natrajan •India’s finance minister Arun Jaitley, principal economic advisor Sanjeev Sanyal and Chairman of the Insolvency and Bankruptcy Board of India (IBBI) M S Sahoo made a strong pitch for turbocharging foreign investment in Indian companies' stressed assets that will be going up for sale in the coming months.
Arun Jaitley holds high-level meeting to discuss liquidity issues; no discussion on RBI-govt differences, says report
•Unlike in the past, all the four RBI deputy governors attended Tuesday's FSDC meeting along with Patel.
Revival of 45 bankrupt companies will meet 50% of lenders' claims: Insolvency and Bankruptcy Board chief MS Sahoo
Ians •About 1,100 companies have been admitted in the Corporate Insolvency Resolution Process (CIRP) since the implementation of the Insolvency and Bankruptcy Code (IBC) in 2016
Insolvency and Bankruptcy Board working on cross-border insolvency norms, says chairman MS Sahoo
•Govt is keen to introduce a globally accepted cross-border insolvency framework, which would make India an attractive investment destination for foreign creditors
IBBI amends norms, notifies procedures for home buyers under insolvency proceedings
•With the amended norms, there is more clarity on procedural requirements for various classes of creditors, including home buyers.
Sebi plans revised norms for recovery of investors' money in cases of illegal collective investment schemes
•Sebi plans to put in place revised norms for recovering investors' money in cases of illegal collective investment schemes, wherein a registered insolvency professional will be appointed as administrator to undertake sale of assets