An IBBI letter reminds government agencies of their many follies
The Insolvency and Bankruptcy Board of India (IBBI), it seems, has found an indirect way to remind government agencies like...
Month: September 2020
Suraksha ARC withdraws ‘approved’ resolution plan due to delay in legal processes
Suraksha Asset Reconstruction Ltd (Suraksha ARC), an asset reconstruction company, has withdrawn its resolution application for corporate debtor Wind World...
IPA governing board directors may be required to have certain minimum qualifications
The Insolvency and Bankruptcy Board of India (IBBI) has now proposed that the independent and shareholder directors in the governing...
No justice for operational creditors under IBC framework
The National Company Law Appellate Tribunal (NCLAT) has admitted that operational creditors, who are aggrieved at the step-motherly treatment meted...
Loan converted into equity not to be termed as financial debt under IBC: NCLAT
The National Company Law Appellate Tribunal (NCLAT) has recently pronounced a judgment saying that once the debt is converted into...
Real estate sector gets most ‘favourable’ terms under new resolution framework
The expert committee under the former ICICI Bank Chairman KV Kamath set up by the Reserve Bank of India (RBI)...
Jatin Mehta’s Winsome Diamond, Forever Precious Jewellery now under liquidation
Jatin Mehta-owned Winsome Diamond and Jewellery Ltd, an exporter of polished diamond, and Forever Precious Jewellery and Diamonds, designer and...
Global corporate insolvencies to increase 26% in 2020; Turkey, US, HK to be worst hit
Global corporate insolvencies are likely to increase by 26% in 2020 as the Coronavirus pandemic pushes the world economy into...
Registered valuers can’t use limitation, disclaimer clause to escape accountability
The insolvency regulator feels that the professional valuers are using the ‘caveats, limitations and disclaimers’ section of the valuation report...
A creditor’s perspective of disputed claims in insolvency proceedings
By Arvind Mangla Time and again, treatment of disputed claims in Corporate Insolvency Resolution Process (CIRP) had attracted divergent views. ...