Page 37 - Insolvency And Bankruptcy Code

Increased Parliament efficiency, but far fewer bills sent to Panels

The 16th Lok Sabha passed 15% more Bills than the previous one, he said, adding that in these five years, 60% of the passed Bills have been debated for at least 2 hours

JSW Steel sweetens offer by Rs 400 cr to close Bhushan Power deal

Proposal was made last week, payment subject to bank guarantee or indemnity from lenders, so that in case SC rejects resolution plan, settlement amount will be reversed

Top court to hear matter on insolvency of personal guarantors tomorrow

In the last hearing on Oct 29, SC had transferred to itself all petitions pending before various High Courts, challenging IBC provisions on the issue

From blacklisting norms to row over foreign award, here're top court orders

A selection of key court orders

Decoded: Unravelling the legal tangle around revised bids for DHFL

The DHFL saga has put the spotlight on the legal ambiguity in accepting bids beyond stipulated deadlines

Realisations through IBC to take a hit of up to 40% in FY21: Icra

Covid-19 outbreak, suspension of new proceedings under IBC has sharply slowed down resolution process causing realisation for financial creditors to decline

Beleaguered DHFL posts Rs 2,122-crore net loss in September quarter

The company reported revenue from operations to the tune of Rs 2,204.81 crore for Q2FY21

IBBI proposes mechanism to allow withdrawal from voluntary liquidation

The process to rescind would be the same as was followed to initiate it - approval by a special resolution, passed by members or partners

Draft pre-packaged scheme for insolvency largely based on British law

Rules to ensure that process doesn't remain debtor-driven but protects creditor's interests

IBBI allows transfer of illiquid assets and debt for quicker case closure

The rules come at a time when the liquidation process takes much longer than envisaged under IBC

PMLA clean chit to Chanda Kochhar may help Videocon debt recast plan: Dhoot

The company's promoter Venugopal Dhoot said their application is currently pending with the Committee of Creditors, which will soon vote on their proposal

Lavasa hill city hits dirt; lenders may send company to liquidation

Lavasa, a subsidiary of construction major HCC, has defaulted on bank loans worth Rs 7,700 crore

India Inc needs to respond to various reforms undertaken by govt, says CEA

He said that India is the only country which utilised the opportunity provided by the current crisis to unleash the second generation reforms that are focused on factor markets

Best of BS Opinion: J&K 'integral' reforms, insolvency process, and more

Here's a selection of Business Standard opinion pieces for the day

Liberty's India constraint: Reassuring lenders remains a tall order

Sanjeev Gupta acquired a burgeoning UK empire in five years; in India, he has secured a one-million-tonne plant after two years of trying

SC transfers to itself pleas challenging IBC law on personal guarantors

A three-judge Bench comprising Justices L Nageswara Rao, Hemant Gupta, and Ajay Rastogi has directed the HCs to not entertain any further writ petitions on this issue

Why some don't deserve a second chance

Last week, Videocon's Venugopal Dhoot and DHFL's Kapil Wadhawan offered to pay to pull their firms out of insolvency process

IBC rule on personal guarantees no help to promoters blaming managers

Payment of bank loans by a company is an obligation under the contract law and fraud by professionals is a criminal matter, says government official.

IBBI approaches SC to club all cases on personal guarantee pending in HCs

Top court likely to give its order on Thursday, has indicated it may transfer all cases to itself, according to a senior lawyer

MCA defends IBC provision on personal insolvency in Anil Ambani case

MCA is engaging with the law ministry to present the government's side of the argument