Jaypee Infratech has defaulted on Rs526.11 crore of loans outstanding to IDBI Bank. Photo: Ramesh Pathania/Mint New Delhi: The Supreme Court on Wednesday restrained the independent directors and promoters of Jaiprakash Associates Ltd (parent company of Jaypee Infratech) and their family members from transferring any personal assets or property without the courts permission in order…
New Delhi: The Union cabinet on Wednesday cleared an ordinance to bar wilful defaulters and businesses with dubious antecedents from bidding for stressed assets to prevent the misuse of the bankruptcy code enacted to clean bank balance sheets and resolve industrial sickness. Finance minister Arun Jaitley told reporters that the year-old insolvency & bankruptcy code…
Englands players have opted against giving a portion of their match fee to their Samoan counterparts ahead of Saturdays clash at Twickenham. Anthony Watson revealed that the possibility of donating part of the £23,000 they are paid for each Test as recently suggested by Mako Vunipola would be discussed this week. The Samoa Rugby Union,…
Written by Sunny Verma | Updated: November 22, 2017 9:06 pm Arun Jaitley Related News The Union Cabinet approved the promulgation of an ordinance Wednesday to amend the Insolvency and Bankruptcy Code (IBC) to streamline the stressed-assets resolution process and effectively bar wilful defaulters from bidding for companies being put up for sale under the…
Its rare that a Budget comes along with cheering news on the travel front. After all, though the travel industry may argue that they are a vital and vibrant part of the economy, chancellors dont tend to have much sympathy for holidaymakers. The Treasury certainly doesnt like us to take all that sterling out of…
England’s players have opted against giving a portion of their match fee to their Samoan counterparts ahead of their clash at Twickenham. Anthony Watson revealed that the possibility of donating part of the STG23,000 ($A45,000) they are paid for each Test, as recently suggested by prop forward Mako Vunipola, would be discussed this week. Samoa’s…
Michael McGrath, Fianna Fáil’s finance spokesperson, has introduced legislation that will give borrowers the right to appeal a banks veto over a Personal Insolvency Arrangement. Fianna Fáils Personal Insolvency (Amendment) Bill 2017 has been drafted in response to a September decision from the Circuit Court that decided that the borrower has no such legal authority.…
NEW DELHI: The government will soon promulgate an ordinance to amend the Insolvency and Bankruptcy Code, aimed at tightening the current framework amid rising number of insolvency cases. The Cabinet on Wednesday approved bringing in an ordinance to make “some changes” in the Code, Corporate Affairs Minister Arun Jaitley said. The Code, which became operational…
Trouble seems to be brewing for debt-ridden Jaiprakash Associates Limited as the Supreme Court on Wednesday ordered the company to payback all dues to homebuyers and warned its directors and promoters from alienating their properties as well as the assets of their family members. The real estate firm, however, deposited a demand draft of Rs…
New Delhi: The government will come out with an ordinance to make certain amendments to the Insolvency and Bankruptcy Code, Corporate Affairs Minister Arun Jaitley said on Wednesday. The Code, which became operational in December last year, provides for a market-determined and time-bound insolvency resolution process. It is implemented by the corporate affairs ministry. File…