Page 20 - Insolvency And Bankruptcy Code

Top Headlines: Oil's impact on budget, Microsoft cuts 10,000 jobs, and more

Business Standard brings you the top headlines at this hour

Voting for IBC resolution of twin Srei companies to begin on Thursday

Srei has received three compliant resolution plans, which will be voted on by lenders and debenture holders

Govt proposes a slew of changes to Insolvency and Bankruptcy Code

Among other changes, the corporate affairs ministry has suggested developing a state-of-the-art electronic platform that can handle several processes under the Code with minimum human interface

Budget session: Govt likely to propose amendments to competition law

The government is expected to propose amendments to the competition law after taking into consideration various suggestions of a Parliamentary panel, in the upcoming Budget session of Parliament, according to a senior official. Besides, discussions are going on with respect to amendments to the Insolvency and Bankruptcy Code (IBC) as well as the Companies Act, 2013. The official also said that the corporate affairs ministry is examining a Parliamentary panel's suggestions on having a new digital competition law. The ministry is implementing the Competition Act, IBC and the Companies Act, and amendments to these laws are expected this year. A bill to amend the competition law was introduced in Parliament on August 5 last year and was later referred to the Parliamentary Standing Committee on Finance. The panel tabled its report on December 13 last year and the ministry will now be coming up with an amendment bill after taking into consideration various recommendations of the ...

Delays, even with no jurisdiction

Judicial overreach and appropriation of power are slowing the insolvency process

NCLAT dismisses Wave Group's appeal for insolvency proceedings

The NCLAT upheld the old order, along with the fine of Rs 1 crore

Operational creditor has filed Rs 211-cr insolvency case: Zee Entertainment

Firm says it will fileits reply rejecting the claim on the ground that there was a pre-existing dispute between the parties on the claimed amount

CBIC asks taxmen to recover lower dues from firms under insolvency

Issues a separate circular on limitation period of show-cause notices

Best of BS Opinion: Slowdown year, Indian rupee goes digital, and more

Here is the best of Business Standard's opinion pieces for today

Speed and capacity

Restoring trust in IBC must be a priority

Realisation through IBC 201% of liquidation value as of Sept: RBI

SARFAESI and Debt Recovery Tribunals have yielded recovery rates comparable to the IBC mechanism, says Trend and Progress Report

India planning new rules for quicker resolution of builders' insolvency

The proposed change to the nation's Insolvency and Bankruptcy Code will permit resolution of the cases on a project-wise basis

Bad loans & IBC: Going as expected

Indeed, the IBC has only proven how wide and deep corrupt banking practices in PSBs were

IDBI Bank third lender to drag Siti Networks to bankruptcy court

Yet to receive notice from NCLT, firm says; HFDC, IndusInd Bank had filed petitions earlier

CoC raises base price of Reliance Capital auction to Rs 6,500 crore

Auction to be held on two days, starting December 22

Possible to improve IBC with non-legislative fixes: ex-IBBI chief M S Sahoo

In a Q&A, Sahoo also calls for increasing the number of members in NCLT in order to expedite insolvency and bankruptcy cases

RCap assets' e-auction to kick off on Dec 19; base bid at Rs 5,300 crore

This is the first time that an e-auction of this scale would take place for a debt resolution under the Insolvency and Bankruptcy Code, 2016

Variable capital firms to boost India's fund management space, says Sahoo

Such entities have a variable capital base as they issues and redeems shares on an on-going basis. With every issue or redemption, the capital base of the VCC changes

FRL's digital database before insolvency not available: Compliance officer

Future Retail's structured digital database prior to the corporate insolvency resolution process has not been available for verification for the quarter that ended September due to various reasons, including non-cooperation from erstwhile management and lack of administrative arrangements, the company's newly-appointed company secretary and compliance officer said in a regulatory filing. The company has now initiated the process of inviting competitive quotes to purchase the software necessary for the maintenance of the structured digital database to comply with Sebi regulations, FRL Compliance Officer Pratiksha Salecha said in note filed on BSE by the company. Under the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, listed companies are required to maintain a secured digital database which has to be verified. Salecha was appointed on September 29, 2022, Compliance Officer of Future Retail Ltd (FRL) against which the Corporate ...

IBBI chief bats for putting valuation of IBC entities in public domain

The board has amended its regulation to allow IPEs to register as insolvency professionals and perform all their functions, including managing a company's operations