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SC Scraps RBI February 12 Circular: What This Means
The Reserve Bank of India came up with a circular last year dated February 12 and today the apex court has rendered it illegal. The circular named Resolution of Stressed Assets - Revised Framework" forced a lot of financially stressed companies ...
Govt To Review Insolvency And Bankruptcy Code Today
The ministry of corporate affairs will meet lending institutions today to discuss cases pertaining to distressed assets under the Insolvency and Bankruptcy Code or IBC. There shall be discussion on 52 matters of large defaulters who made it in the RBI's ...
Govt May Ask RBI To Relax Capital Norms For Banks: Report
As per the leading business daily report, the government will engage in discussion with the RBI to reduce and relax capital requirements currently stipulated for banks so as to align them to less-strict Basel III norms. The proposal comes after ...
BSE To List Startups From July 9
The BSE platform shall allow listing of startup firms from July 9 provided the company seeking listing have a pre-issued paid up equity capital of Rs. 1 crore minimum. The company should also be in existence for a minimum of 3 ...
IBC Amendments Now Treats Homebuyers As Financial Creditors
On Wednesday, amendments to the Insolvency and Bankruptcy Code have been given approval by the Union Cabinet to thus treat homebuyers as financial creditors at par with banks and other institutional creditors for recovering dues from real estate firms that have ...
Home Buyers Should be Treated as Financial Creditors: IBC Panel
Home buyers should be treated as financial creditors which will allow them to equitably participate in an insolvency resolution process, a high-level panel examining the Insolvency and Bankruptcy Code (IBC) has recommended to the government. The 14-member panel, headed by the ...
Tata Steel Selected To Buy Insolvent Bhushan Steel
On Friday, Tata Steel Ltd. announced that it has been chosen as the successful bidder by Committee of Creditors (CoC) of Bhushan Steel for buying debt-laden company Bhushan Steel Ltd. The decision to this effect was taken by the CoC on ...
RBI Revises NPA Rules For Banking
To rule out all possible chances of NPAs taking a heavy toll on the banking industry from now on, the central bank has revised rules per se stressed assets. Some of the regulatory overhauls made are listed hereforth: Identify defaults ...
Parliament Passes Insolvency & Bankruptcy Code Amendment Bill
On Tuesday, the 2nd of January, Finance Minister Arun Jaitley said that the government has entered into an unchartered territory as far as bankruptcy and insolvency Code is concerned and would continue to modify the law dealing with the issue, reported ...
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