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Insolvency and Bankruptcy Board of India (IBBI) is a key institution in implementation of insolvency. (Representational Image)

SC ruling does not disturb creditors' rights to insolvency proceedings, says Sahoo

In view of the judgement, a bank-creditor needs to ask itself when it should initiate proceeding and justify itself, IBBI's Sahoo said.

07 Apr 2019 6:51 PM

"The court has said that power of RBI under Section 35AA has to be exercised in certain manner. The validity of section 35AA of the Banking Regulation Act 1949 stands and henceforth we have to comply with the direction of Supreme Court and act accordingly," Shaktikanta Das said.

SC ruling: RBI to come out with fresh circular on resolution of bad loans

Supreme Court had on Tuesday quashed RBI circular that pertains to provisions for referring the defaulter to NCLT.

04 Apr 2019 1:06 PM

Corporate Affairs Secretary Injeti Srinivas said that personal insolvency should be approached carefully and in a planned manner. (Representational Image)

Over 12,000 cases filed since implementation of insolvency law, says govt

Corporate Affairs Secretary Injeti Srinivas said the NCLT has been very expeditious in disposing cases related to insolvency.

26 Mar 2019 12:42 PM

The NCLT case filing got delayed due to collection of invoices from all BSNL circle offices. (Photo: File)

BSNL to approach NCLT this week against RCom to recover Rs 700 cr

BSNL has already invoked bank guarantee of around Rs 100 crore submitted by RCom for default on payments, said sources.

17 Mar 2019 1:19 PM

Patanjali group came second with around Rs 5,700 crore bid, including the infusion of about Rs 1,700 crore in the edible oil company.

Baba Ramdev's Patanjali raises bid value to Rs 4,350 cr to take over Ruchi Soya

The Committee of Creditors (CoC) could meet next week to consider the revised offer of Patanjali.

14 Mar 2019 8:56 AM

Ex Essar Steel directors approach NCLT against ArcelorMittal takeover

On Friday, Ahmedabad bench of NCLT had approved the lenders' plan to let global steel giant ArcelorMittal take over debt-ridden Essar Steel.

11 Mar 2019 5:35 PM

The secured creditors have a say on deals in the NCLT while views of unsecured creditors are not considered. (Photo: File)

NTPC eyes stressed assets under insolvency in NCLT to make deals sweeter

All those insolvency deals so far in the NCLT have got discounts of up to 70 per cent or even more from secured creditors.

03 Mar 2019 12:12 PM

Over Rs 2 lakh crorebad loans settled, says govt offical

Injeti Srinivas was speaking at the inaugural session of a three-day international conference on 'Insolvency and Bankruptcy Laws'.

01 Mar 2019 4:14 PM

It has also directed the registry of NCLT to communicate this order to the Ahmedabad-based bench and its members. (Photo: File)

NCLAT directs NCLT Ahmedabad to decide on ArcelorMittal's Essar Steel bid by Mar 8

A two-member NCLAT bench said that if the NCLT fails to pass an order by this deadline, it would call records and pass an order.

28 Feb 2019 11:49 AM

The application has been filed under Section 7 of the Insolvency and Bankruptcy Code 2016. (Photo: ANI)

JM Financial files application with NCLT against Hotel Leela Venture

The potential share issue could have hiked the JMARC’s stake in Leela Venture to 75 per cent from the current 26 per cent.

26 Feb 2019 2:21 PM

ArcelorMittal says facing risks like excess capex on proposed Essar

The world's largest steelmaker ArcelorMittal's takeover proposal of the Essar Steel India Ltd (ESIL).

26 Feb 2019 2:12 PM

A consortium of banks, led by the SBI, has extended loans to Jet Airways, which is looking to rejig debt and raise funds.

Jet Airways shares fall 3 pc on reports of SBI mulling moving NCLT against airline

Shareholders of Jet Airways had approved conversion of loan into shares and other proposals during the extraordinary general meeting.

25 Feb 2019 3:30 PM

Saddled with a billion dollars in debt, Jet has defaulted on loans and has not paid pilots, leasing firms and suppliers for months.

SBI says reports of taking Jet Airways to NCLT ‘speculative’

Reports earlier said SBI was mulling moving the NCLT to recover its loans from Jet Airways.

25 Feb 2019 2:07 PM

The latest ordinance has been promulgated with effect from Thursday, according to the official gazette. (Photo: ANI)

Govt re-promulgates ordinance for companies law amendments

On Tuesday, the Cabinet cleared the proposal to promulgate the Companies (Second Amendment) Ordinance, 2019.

22 Feb 2019 10:32 AM

the audit work for the quarter ended December 31, 2018 was progressing at a slow pace on account of high employee attrition in the past few months and is yet to conclude. (Photo: Twitter)

Kwality Ltd seeks more time to file results

It said that at the time of initiation of CIRP, the audit work although commenced, but was progressing at a slow pace.

17 Feb 2019 5:17 PM

The IT firm said its scheme of amalgamation is pending for sanction of the NCLT. (Photo: File)

Wipro gets relaxation from Sebi for buyback programme

Wipro in November 2018 had filed an application with the Sebi to seek exemption from the strict enforcement of the buyback norms.

16 Feb 2019 5:41 PM

Earlier on February 4, the NCLAT has asked NCLT Ahmedabad to decide by February 11, failing to which it would call records and pass order.

NCLAT extends deadline to decide on Essar Steel insolvency case

NCLT Ahmedabad to decide over the Rs 42,000 cr resolution plan submitted by ArcelorMittal for Essar Steel.

12 Feb 2019 12:25 PM

RCom has been reeling under a debt of over Rs 46,000 crore. (Photo: File)

RCom shares battered further, tank nearly 13 percent

RCom stock plummeted 10.84 per cent to Rs 4.85 on BSE, at NSE, shares crashed 12.61 per cent to Rs 4.85 apiece.

06 Feb 2019 1:00 PM

Telecom tribunal exempts RCom from one-time spectrum charge

TDSAT also directed the DoT to return a 20 billion rupees bank guarantee made by the company.

05 Feb 2019 4:49 PM

On Tuesday, NCLT had rejected the debt settlement proposal put forth by the shareholders of Essar Steel.

NCLAT declines plea of Essar Steel operational creditor

NCLAT declined the plea of an operational creditor of debt-ridden Essar Steel seeking recovery worth Rs 800 crore.

30 Jan 2019 12:24 PM

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Mohan Guruswamy