SC says company law tribunal can't compel parties to settle dispute in insolvency proceedings under IBC
The top court referred to the provisions of the IBC and said that the NCLT and its appellate body, NCLAT, had only two options available to either allow or reject the insolvency proceedings against the firm
In Cabinet reshuffle, technocrats as ministers can help Prime Minister Narendra Modi deliver better on jobs
Clearly, the model of bureaucrats alone advising the government, who themselves have little interaction with citizens and opinion-makers, has run its course
SC upholds Centre's notification permitting banks to proceed against personal guarantors under bankruptcy code
The top court ruled that initiation of an insolvency resolution plan for a company does not absolve corporate guarantees given by individuals from paying up the dues to financial institutions
DHFL was the first finance company to be referred to NCLT by the RBI using special powers under Section 227 of the IBC. The company owes Rs 87,031 crore to financial creditors
Proceedings under the Insolvency and Bankruptcy Code have remained suspended since 25 March in the wake of the COVID-19 pandemic
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
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.
Bankers believed that some safety net has to be created for both industry and banks for survival first, sources said, adding, revival would follow.
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
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.
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
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.
Adani, KKR, Bain Capital, Piramal, Kotak, among two dozen bids for DHFL; around 14 entities keen to take over entire operations
Most banks led by the State Bank have declared DHFL account as an NPA in the third quarter.
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
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
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
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
This has some bearing on the credit growth of the banks as corporates borrowing from domestic lenders have come down
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
With the order, the apex court paved the way for ArcelorMittal's takeover of Essar Steel for Rs 42,000 crore.