Insolvency And Bankruptcy Code
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Byju's faces insolvency proceedings as it fails to pay Rs 158.9 crore sponsorship fee to BCCI
Business | Jul 16, 2024, 09:02 PM ISTByju's and BCCI entered into a sponsorship agreement in 2019 through which the Edtech company got exclusive rights to display its trademark on the kit of the Indian cricket team, however, it failed to pay the sponsorship after June 2022.
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"Go First doing everything possible to navigate situation...": CEO Kaushik Khona tells employees
Business | May 03, 2023, 01:21 PM ISTGo First news: According to the airline, the arbitrator ordered P&W to supply at least 10 serviceable spare leased engines by April 27 and a further 10 spare leased engines per month until December 2023.
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Govt proposes framework for cross-border insolvency; seeks comments till Dec 15
Business | Nov 26, 2021, 05:09 PM ISTThe corporate affairs ministry, which is implementing the Insolvency and Bankruptcy Code (IBC), has sought comments on the draft framework till December 15.
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LS passes amendment in Insolvency and Bankruptcy Code
India | Sep 21, 2020, 10:26 PM ISTThe Lok Sabha on Monday passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020, whereby fresh insolvency proceedings will not be initiated for at least six months starting from March 25 amid the coronavirus pandemic.
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Parliament passes amendments to Insolvency and Bankruptcy Code
India | Mar 12, 2020, 02:07 PM ISTParliament on Thursday passed amendments to the insolvency law that will help ring-fence successful bidders of insolvent companies from risk of criminal proceedings for offences committed by previous promoters.
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RBI supersedes DHFL board, insolvency proceedings soon
Business | Nov 20, 2019, 06:46 PM ISTThe Reserve Bank of India (RBI) on Wednesday superseded the board of debt-laden Dewan Housing Finance Corporation Limited (DHFL). The central bank will soon refer DHFL for insolvency proceedings, the RBI said in a statement.
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Govt mulls raising Rs 1 lakh default threshold for invoking IBC
Business | Oct 14, 2019, 06:40 PM ISTThe government is examining suggestion to raise threshold of Rs 1 lakh default to invoke the Insolvency and Bankruptcy Code (IBC) to reduce number of cases in the NCLT, Corporate Affairs Secretary Injeti Srinivas said.
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Govt plans debt waiver for 'small distressed borrowers' under insolvency law
Business | Aug 18, 2019, 03:13 PM ISTThe government plans to give debt waiver for "small distressed borrowers" under the insolvency law framework, according to a senior official.
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Insolvency proceedings initiated against Jet Airways
Business | Jun 23, 2019, 03:54 PM ISTThe cash-strapped company became the first domestic airliner to go into bankruptcy after the Mumbai bench of the National Company Law Tribunal (NCLT) admitted an insolvency petition filed by SBI on behalf of 26 lenders on June 20.
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SC upholds constitutional validity of Insolvency and Bankruptcy Code
India | Jan 25, 2019, 05:17 PM ISTA bench headed by Justice R F Nariman said they have upheld the constitutional validity "in its entirety".
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Relief for home buyers as President approves ordinance to treat them as creditors
India | Jun 06, 2018, 07:43 PM ISTThe government said the ordinance would give home buyers due representation in the Committee of Creditors and make them an integral part of the decision making process.
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Good news for home buyers! Union Cabinet approves ordinance to amend Insolvency and Bankruptcy Code
India | May 23, 2018, 06:12 PM ISTA 14-member Insolvency Law Committee had suggested to the Ministry of Corporate Affairs that home buyers should be treated as financial creditors paving way for their participation in an insolvency resolution process.
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Year Ender 2017 News: Top 5 economic reforms unleashed by Modi govt this year
Business | Dec 27, 2017, 04:46 PM ISTWhile the impact of the reforms has been mixed, the government believes the structural changes it has brought about have put the Indian economy on a sound track.
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NCLT adjourns case against Unitech after SC stay on govt takeover
Real Estate | Dec 20, 2017, 04:32 PM ISTThe Supreme Court stayed an NCLT order directing a management take-over of the firm by a group of directors appointed by the Centre.
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Bad loans: Day of reckoning for 28 companies as RBI deadline to initiate insolvency proceedings ends
Business | Dec 13, 2017, 09:56 AM ISTAccording to ICRA, the list has accounts from diverse sectors and a total exposure of about Rs 1.15 lakh crore.
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Unitech moves Supreme Court as Centre eyes takeover in ‘public interest’, hearing on Tuesday
Real Estate | Dec 11, 2017, 01:48 PM IST“We are more concerned with home buyers and not the company or those holding fixed deposits,” the top court said, while fixing the hearing for Tuesday.
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More trouble for RCom, two Chinese lenders back CDB’s insolvency petition against Anil Ambani's telco
Business | Dec 06, 2017, 02:29 PM ISTThe ICBC and Export-Import Bank of China are planning to support China Development Bank's insolvency petition against RCom.
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Ordinance barring loan defaulters from bidding for stressed assets promulgated after President’s nod
Business | Nov 24, 2017, 10:32 AM ISTThe ordinance to amend the Insolvency and Bankruptcy Code put in place safeguards to prevent wilful defaulters from bidding for stressed assets.
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Cabinet clears ordinance to amend Insolvency code, to be placed before Parliament in Winter session
Business | Nov 22, 2017, 05:08 PM ISTFinance minister Arun Jaitley today said that the Cabinet has sought the President's approval to amend the Insolvency and Bankruptcy Code.
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'Pay up like good children', SC tells Jaypee directors; restrains them from alienating properties
Real Estate | Nov 22, 2017, 02:02 PM ISTThe apex court also restrained the directors from alienating the properties of their immediate family members and cautioned that any violation of its directive would hold them liable for criminal prosecution.