Piramal Group wins the bid for DHFL
The Committee of Creditors (CoC) has approved the Piramal Group's resolution plan for Dewan Housing Finance Corporation Ltd (DHFL), which...
ICAI planning to use AI to identify the non-compliances in financial statements
The Institute of Chartered Accountants of India (ICAI) through its Financial Review Reporting Board (FRRB) is planning to use Artificial...
IPAs should now have a compliance officer; publish self-evaluation report
The insolvency regulator – Insolvency and Bankruptcy Board of India (IBBI) -- now requires the insolvency professional agencies (IPAs) to...
CoC can reject any number of resolution plans, if it does not find them viable
No matter how many resolution plans have been submitted in a corporate insolvency resolution process (CIRP), if the Committee of...
Despite repeated reminders Talwalkars fails to appear for insolvency hearings in NCLT
Despite the sword of bankruptcy hanging over Talwalkars Better Value Fitness Ltd, the company that owns a chain of gym...
Business insolvencies in Germany down 31.9% from October 2019
In October 2020, local courts in Germany reported 1,084 business insolvencies. The Federal Statistical Office (Destatis) reports that this was...
Homebuyers’ fate hangs in balance as no bidders show interest in HDIL
Thousand of homebuyers’ fate hangs in balance as Housing Development and Infrastructure Limited (HDIL), the Mumbai-based infrastructure company, has not...
RBI report suggests gross NPAs of banks may double to 14.8% by Sept 2021
Macroeconomic stress test by the Reserve Bank of India (EBI) suggests that the Scheduled Commercial Banks’ Gross NPAs may increase...
Insolvency professionals should be given enough free hand for engagement of professionals: IP body
The Insolvency and Bankruptcy Board of India (IBBI) in December 2020 has sought suggestions from stakeholders on the issue of...
US Bankruptcy filings drop 30% in 2020 as govt stimulus supports distressed business, individuals
Total US bankruptcy filings in 2020 dropped 30% as the government and lenders offered stabilization measures in response to the...