Ibc

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Ibc - Total results - 291
SC bench slams telcos for seeking recalculation of AGR dues, says it can 'impose more costs than any other court before'
India

SC bench slams telcos for seeking recalculation of AGR dues, says it can 'impose more costs than any other court before'

'The calculation that has been given by DoT is to be treated as final; there can be no scope of re-assessment,' the Supreme Court held.

UK court orders Anil Ambani to pay $717 mn to 3 Chinese banks within 21 days; seeking legal advice, says firm
Business

UK court orders Anil Ambani to pay $717 mn to 3 Chinese banks within 21 days; seeking legal advice, says firm

A spokesperson for Anil Ambani said the matter pertains to an alleged personal guarantee for a corporate loan availed by Reliance Communications Limited (RCom) in 2012 for global refinancing.

IBA urges govt, RBI to double moratorium period to 6 months; seeks credit guarantee for MSME loans
Business

IBA urges govt, RBI to double moratorium period to 6 months; seeks credit guarantee for MSME loans

Bankers believed that some safety net has to be created for both industry and banks for survival first, sources said, adding, revival would follow.

IBC led to recovery of just 10% of defaulted loans in non- major companies: Jairam Ramesh
Business

IBC led to recovery of just 10% of defaulted loans in non- major companies: Jairam Ramesh

The insolvency and bankruptcy law has resulted in recovery of just 10 percent of defaulted loans in case of companies other than the seven big ones referred for resolution, senior Congress leader Jairam Ramesh said in Rajya Sabha on Thursday

Yes Bank crisis: Best practices needed as benchmark to govern banks; govt should consult with veteran bankers for solutions
Business

Yes Bank crisis: Best practices needed as benchmark to govern banks; govt should consult with veteran bankers for solutions

Recent days have seen RBI governor Shaktikanta Das pulling up public sector banks for poor credit growth even as Kapoor's Yes Bank shenanigans were simmering in the backdrop.

Recovery through insolvency process better compared to other options: IBBI chief  MS Sahoo
Business

Recovery through insolvency process better compared to other options: IBBI chief MS Sahoo

Asserting that recovery through insolvency law process has been better, IBBI chief MS Sahoo has said creditors have recovered Rs 1.6 lakh crore, which is 207 percent of the realisable value of assets of 190 companies rescued till December last year under it

NCLAT sets aside insolvency case against Flipkart; asks IRP to return e-commerce major's records, assets to promoter
Business

NCLAT sets aside insolvency case against Flipkart; asks IRP to return e-commerce major's records, assets to promoter

On 24 October 2019, the Bengaluru Bench of the National Company Law Tribunal (NCLT) had admitted the insolvency plea filed by Cloudwalker Streaming Technologies, an operational creditor of Flipkart.

Economic Survey 2019-2020 sources data from Wikipedia, private entities such as Bloomberg and BSE
India

Economic Survey 2019-2020 sources data from Wikipedia, private entities such as Bloomberg and BSE

The Economic Survey 2019-20 has sourced certain data from Wikipedia, which is not considered as reliable source of information.

Economic Survey 2020: CEA K Subramanian takes on predecessor Arvind Subramanian for questioning India’s GDP numbers
Business

Economic Survey 2020: CEA K Subramanian takes on predecessor Arvind Subramanian for questioning India’s GDP numbers

The Economic Survey has projected a 6-6.5% GDP growth for 2020-21. But, there will be much skepticism on this number given that in the last survey, the growth was projected at 7% whereas the actual growth is likely to end up around 5%.

Economic Survey 2020: Growth projection of 6-6.5% looks reasonable in current scenario; effort should be there to garner revenue on tax front
Business

Economic Survey 2020: Growth projection of 6-6.5% looks reasonable in current scenario; effort should be there to garner revenue on tax front

The Economic Survey is also quite a votary of disinvestment and the view held is that there should be exits by the government in non-critical areas.

Govt reforms appear task-based; it's time to focus on structural changes to improve India's ease of doing business rankings
Business

Govt reforms appear task-based; it's time to focus on structural changes to improve India's ease of doing business rankings

Two key areas in need of systemic reforms are enforcement of contracts and resolving insolvency

Top 50 corporates reduce debt by over Rs 59,000 cr in first half of this fiscal; prefer to raise funds through ECBs
Business

Top 50 corporates reduce debt by over Rs 59,000 cr in first half of this fiscal; prefer to raise funds through ECBs

This has some bearing on the credit growth of the banks as corporates borrowing from domestic lenders have come down

India facing 'Great Slowdown', economy headed to ICU, says former CEA Arvind Subramanian
Business

India facing 'Great Slowdown', economy headed to ICU, says former CEA Arvind Subramanian

India is facing a "Great Slowdown" with its economy headed for intensive care unit primarily due to a "second wave" of the twin balance sheet crisis at banks, former Chief Economic Adviser Arvind Subramanian has said

Essar Steel resolution to boost Q3 earnings with Rs 12,000-cr recovery; step to have positive impact on economy: SBI chief
Business

Essar Steel resolution to boost Q3 earnings with Rs 12,000-cr recovery; step to have positive impact on economy: SBI chief

With the order, the apex court paved the way for ArcelorMittal's takeover of Essar Steel for Rs 42,000 crore.

Over 14,000 prosecutions withdrawn under Companies Act, says centre; undertook various steps to improve ease of doing business
Business

Over 14,000 prosecutions withdrawn under Companies Act, says centre; undertook various steps to improve ease of doing business

India has improved its ranking on the World Bank's 'Doing Business 2020' report, moving up 14 positions to the 63rd spot.

NCLAT stays NCLT directive to make Ministry of Corporate Affairs party to all insolvency cases
Business

NCLAT stays NCLT directive to make Ministry of Corporate Affairs party to all insolvency cases

The appellate tribunal's direction came over a petition filed by the government through the Ministry of Corporate Affairs (MCA) challenging the NCLT order.

DHFL shares fall nearly 5% after RBI files application to initiate insolvency resolution process
Business

DHFL shares fall nearly 5% after RBI files application to initiate insolvency resolution process

Shares of Dewan Housing Finance Corporation on Monday fell nearly 5 percent to hit lower price band after the RBI filed an application to initiate the insolvency resolution process against the company

GDP nosedives to 6-year low: Economy needs rooted policy wonks, not supercops with harsh approach to macroeconomics
Business

GDP nosedives to 6-year low: Economy needs rooted policy wonks, not supercops with harsh approach to macroeconomics

The NDA government's acts, be it the controversial demonetisation of high-value currency notes in 2016 or the introduction of the IBC, displayed a fetish for a supercop mentality or an obsession with seeing itself as a torch-bearer for a market economy.