Insolvency regulator releases guidelines for hiring professionals during CIRP
There are a variety of self-styled advisors, who may not be qualified or regulated and that they cannot be hired...
Can a CoC member be asked to contribute towards CIRP cost?
By Arvind Mangla The question is whether CoC member(s) is/are required to or can be forced to, provide interim finance...
My history is not patchy and poor, says US-based NRI who has bid for Air India
Laxmi Prasad, chairman at Interups Inc, who has submitted his bids for national carrier Air India, has taken to social...
A financial creditor is liable to pay CIRP cost only for the period it was part of CoC
If a financial creditor is part of the committee of Creditors (CoC) then it has to pay the CIRP cost,...
Deadline for submission of EoI from eligible institutions for conducting Graduate Insolvency Programme extended to 15 January
The Insolvency and Bankruptcy Board of India (IBBI) vide its notice dated 29th October, 2020, annexed below, had invited Expression...
Winding up proceeding transferable to NCLT until it has reached the stage of irreversibility, says Supreme Court
The Supreme Court of India has recently said in a judgement that a winding up proceeding pending before the High...
US bankruptcies see sharp decline in Nov; both commercial, consumer filings drop 39%
On the back of government relief programmes and moratoriums, the US commercial and consumer bankruptcy filings have seen sharp year-on-year...
SRS Limited assets up for sale through e-auction on 15 December
e-auction of assets of SRS Limited will be held from 11:00 am to 4:00 pm on 15 December 2020. The...
RBI issues FAQs on Resolution Framework for Covid-19 related stress
1. In Paragraph 4 of the Annex to the Resolution Framework, it is stated that the reference date for the...
Global banking Industry may lose $3.7 trillion revenue in Covid aftermath, says Mckinsey report
The global banking industry will witness $3.7 trillion revenue loss between 2020 and 2024 amid muted global recovery in the...