Banks Gross NPAs may increase 120 bps to 8.1% by September ’22: RBI Financial Stability Report
Macro stress tests for credit risk indicate that the gross non-performing assets (NPAs) of Scheduled Commercial Banks (SCBs) may increase...
Month: December 2021
Amount involved in fresh bank frauds drops 56% in 2020-21
The number of fresh bank frauds as well as the amount involved in them saw a drastic fall in 2020-21,...
NCLT rejects payment discrimination petition by dissenting creditors of Jyoti Structure
Any increase in the claim amount of the assenting Financial Creditors (FCs) due to the invocation of Bank Guarantees as...
Insolvency panel proposes wider contribution in, use of IBC Fund
The government-instituted Insolvency Law Committee has proposed to expand the scope of IBC Fund, which has been provided in the...
Panel proposes more changes in IBC to expedite insolvency resolution process
The Insolvency Law Committee (ILC) has proposed a slew of changes to make the Corporate Insolvency Resolution Process (CIRP) faster...
Meghmani Organics successfully bids for Kilburn Chemicals; to infuse Rs 12.15 crore
The resolution plan submitted by Meghmani Organics Limited for Kilburn Chemicals Ltd has been approved by the NCLT on December...
Makers of Premier Padmini cars face uncertain future; seven bids for insolvent company
The Pune-based automative and engineering company Premier Ltd, which is undergoing a corporate insolvency resolution process (CIRP), has attracted interest...
Australian authorities release Personal Insolvency Compliance Report 2020–21
The Australian Financial Security Authority (AFSA) on 14 December released its Personal Insolvency Compliance Report 2020–21. The report outlines the...
NCLT, NCLAT cannot force parties to settle an issue under IBC: Supreme Court
The Supreme Court of India has said that the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal...
Insolvency process against Nagarjuna Fertilizers remains suspended
The Chennai bench of the National Company Law Appellate Tribunal (NCLAT) has continued its stay on the Hyderabad NCLT’s 27...