Bankers take 80% haircut in 22 insolvency resolutions in July-September; total recovery at Rs 3,779 cr
As many as 22 CIRP resolutions were reported to the Insolvency and Bankruptcy Board of India (IBBI) in the July-September...
Month: November 2020
Resolution professional can’t act on behalf of corporate debtor beyond CIRP: Delhi HC
Can a resolution professional (RP) continue to act on behalf of the corporate debtor once the plan is approved and...
UDIN for any kind of CA-certification has to be generated through ICAI website
In order to curb fake certifications by non-CAs misrepresenting themselves as chartered accountants, the Institute of Chartered Accountants of India...
NCLT reconstitutes benches for regular hearing from 1 December
The NCLT benches have been reconstituted to attend regular hearing through video conference with effect from 1 December 2020. The...
‘It is time NCLT imposes heavy costs on petitioners filing frivolous cases to delay resolution process’
Tarun Gulati Senior Supreme Court lawyer Tarun Gulati, who is also an active practitioner in the insolvency and bankruptcy space,...
Companies going for voluntary liquidation may now have an option to withdraw from the process
After amending the liquidation process under the Insolvency and Bankruptcy Code (IBC), the insolvency regulator – Insolvency and Bankruptcy Board...
Unsuccessful resolution applicant has no right to question implementation of approved resolution plan
Once a resolution applicant is out of the fray to acquire a corporate debtor in an insolvency proceeding, the unsuccessful...
Former RBI governor Raghuram Rajan criticises proposal allowing large corporates to own banks
The former Reserve Bank of India (RBI) governor Raghuram Rajan and former deputy governor Viral Acharya have questioned the RBI...
Why IBBI is keeping a close eye on fees charged by insolvency professionals
The fees charged by the insolvency professional (IP) either in his/her role as a resolution professional, interim resolution professional or...
RBI bites the bullet, may allow large corporates to own banks
The Reserve Bank of India (RBI) might soon allow large corporate to own banks, something that the banking regulator had...