Pitfalls and impracticalities of KV Kamath Committee recommendations
The recently announced parameters by the KV Kamath Committee for companies and businesses to be eligible under new resolution framework...
Second time unlucky for Amtek Auto as DVI withdraws resolution plan
Amtek Auto, which is undergoing insolvency proceeding, proved to be second time unlucky as successful resolution applicant Deccan Value Investors...
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...
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Suraksha Asset Reconstruction Ltd (Suraksha ARC), an asset reconstruction company, has withdrawn its resolution application for corporate debtor Wind World...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...