Category: Legal Advisory

IBC provides relief under this code to Homebuyers and MSME’s

The government could soon promulgate an ordinance to make changes to the Insolvency and Bankruptcy Code that will provide relief to small businesses and homebuyers

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Debtors of Alok Industries could not be located, says RP

Steps taken by the resolution professional (RP) for Alok Industries to recover trade outstanding to the tune of Rs 11,622 crore from 5,293 debtors

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Amendments to be introduced in IBC to sync it with RERA

The government must amend the IBC to recognize the legitimate claim of home buyers. After all, they use their lifetime savings to invest in a house.

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11 public sector banks placed under RBI’s PCA framework

Eleven public sector banks are under the radar of the Reserve Bank of India (RBI) over the issue of non-performing assets.

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Government plans to have more NCLT benches

The government plans to have more benches of the National Company Law Tribunal on the basis of case load and rising number of insolvency cases coming up before the NCLT.

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RBI allows banks to spread debt losses, second decision taken within two weeks to revive debt market

India’s sovereign bonds rallied after the central bank allowed lenders to spread out trading losses, a second policy decision in two weeks to revive a debt market that had sold off for seven months.

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Jyoti Structures faces liquidation of Rs.7000 Crore

Jyoti Structures, one of the 12 entities from the first central bank list to be taken to bankruptcy courts, would head into liquidation, inflicting a loss of Rs.7,000 crore on the affected bankers, people in the know told ET.

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Suspected PNB is just 5 days away from getting a defaulter tag

The Government and the Reserve Bank of India (RBI) may need to venture in to stay away from an uncommon occasion in Indian banking.

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Banks to deal with Nirav Modi, NPAs and rising yields

As one of the most eventful quarters for banks comes to a close, lenders’ balance sheets are hit by a triple whammy that could take them a while to recover.

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Appellate tribunal stays NCLT order allowing promoter to bid for firm

An appellate tribunal has stayed the order of the National Company Law Tribunal (NCLT) allowing the promoter of MBL Infrastructure to bid for his insolvent company. It also stayed the resolution plan for the company. The Kolkata bench of the NCLT had allowed the promoter of MBL Infrastructure, Anjanee Kumar Lakhotia, to place a resolution … Continue reading “Appellate tribunal stays NCLT order allowing promoter to bid for firm”

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