Category: Legal Advisory

Big terrible loan monster is eating away India’s economic growth: IMF

India horrific loans presently have soared to whopping Rs 9.5 lakh crore. It’s not only a huge quantity, it’s a large monster that is eating away India’s financial increase. IMF in a document said India’s key banks seem resilient, however the device is situation to huge vulnerabilities. “The economic sector is going through great demanding … Continue reading “Big terrible loan monster is eating away India’s economic growth: IMF”

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Why closing-in-queue creditors report maximum insolvency lawsuits in India

Indiaʹs new financial disaster law is getting most traction from an uncommon set of lenders, people with the least to benefit from pushing corporations into the insolvency process. Operational or unsecured creditors, who have dues that are not backed via any collateral, might be los angeles st in queue to be repaid once an insolvency … Continue reading “Why closing-in-queue creditors report maximum insolvency lawsuits in India”

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Banks can take advantage of the IBC to easy up their balance

The Reserve Bank of India has suggested banks to report for insolvency complaints on their very own rather than watching for its commands.

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NCLT declines extending the deadline for liquidation

National Company Law Tribunal (NCLT) declined to extend the deadline for finalizing a rescue plan for the insolvent firm beyond the mandatory 270-day

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Bankruptcy Code to get substantive amendments in budget

The government is likely to make substantive amendments in upcoming budget into Insolvency and Bankruptcy Code (IBC).

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Bank of India put under vigilant restorative action by RBI

Bank of India (BOI) to have its place as 8th lender to come under the Reserve Bank of India’s (RBI) prompt corrective action (PCA) as bad loans ascend

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24 NPA Accounts to make reference to NCLT by banks

With the closure of Reserve Bank of India’s (RBI) deadline to resolve the 28 identified large stressed accounts in the second list, banks are gearing up to

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Final opportunity for disqualified directors for filing documents

Ministry of Corporate Affairs (MCA) vide its General Circular No.16/2017, Condonation of Delay scheme (COD Scheme), 2018 to vouchsafe final

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RBI swings into action to arrest rising bond yields

The Reserve Bank of India cancelled a scheduled bond auction on Friday, triggering a rally in the bond yields, where climbed 18-month high a day

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SEBI has notified 2nd amendment in Issue and Listing of Debt Securities

The Securities and Exchange Board of India (SEBI) has notified 2nd amendment in Issue and Listing of Debt Securities (ILD) which shall come

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IBBI Chairman in no mood to review amendments in Bankruptcy Rules

The Insolvency and Bankruptcy Board of India (IBBI) appears to be in no mood to review amendments made in the bankruptcy code.

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New Cheque Book by 31st December, 2017 bearing new IFS code.

All the Account holders of aforesaid banks which were merged with SBI Bank, they are required to have new cheque book by 31st December, 2017 bearing new IFS code.

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A 3 Month Window For Relief of Disqualified Directors by MCA

Section 164 of the Companies Act, 2013, provides the events which result in disqualification of directors. For those director who had been disqualified

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NGO’s to open a bank account as directed by the Home Ministry

The Home Ministry has directed all NGO’s, business entities and individuals who receive funds from abroad to open accounts within a month.

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Properties of struck off companies from ROC can’t be enforced

Properties of struck off companies from ROC can’t be enforced, operated, transferred or alienated in any manner by companies including ex-directors.

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