Prez Approves Govt Ordinance To Amend Insolvency, Barring Wilful Defaulters From Bidding For Their Own Assets – Outlook India

President Ram Nath Kovind  on Thursday gave assent to the government’s 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,…

New ordinance to strike loan defaulters another body blow – Times of India

NEW DELHI: The government on Wednesday recommended an ordinance to significantly tighten the norms to bar promoters of companies facing insolvency proceedings from bidding for the ailing entities, in a move that will shut out several business families from vying with competitors and overseas funds. Apart from seeking to ban bidding by wilful defaulters, the…

Ordinance to change insolvency and bankruptcy laws cleared, focuses on stressed assets – Hindustan Times

The Cabinet on Wednesday approved changes to the Insolvency and Bankruptcy Code (IBC), and sent it to the President for his approval. Once approved, the ordinance will be placed before Parliament in the winter session. Finance minister Arun Jaitley did not divulge details about the changes being made to the code, since the Presidents approval…

England opts to not share match fee with ‘bankrupt’ Samoa ahead of Test at Twickenham – NEWS.com.au

ENGLANDS 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 $45,000 they are paid for each Test, as recently suggested by prop forward Mako Vunipola, would be discussed this week. Samoas union,…

England opts to not share match fee with ‘bankrupt’ Samoa ahead of Test at Twickenham – Fox Sports

ENGLANDS 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 $45,000 they are paid for each Test, as recently suggested by prop forward Mako Vunipola, would be discussed this week. Samoas union,…

Insolvency code being changed, wilful defaulters can’t bid for stressed assets – The Indian Express

Written by Sunny Verma | New Delhi | Published: November 23, 2017 5:12 am Ravi Shankar Prasad, Arun Jaitley on Wednesday. (Express Photo/Anil Sharma) 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…

Ban for dry lining boss who failed to declare £1.9m to HMRC – Construction Enquirer

Following an investigation by the Insolvency Service, the Secretary of State for Business, Energy, & Industrial Strategy accepted a disqualification undertaking from Juris Vezenkovs for seven years, effective from this month. Vezenkovs was a director of McDouglas Developments Limited who failed to ensure that the receipts were declared on the companys VAT Returns which resulted…

SC bars Jaiprakash Associates directors, promoters from transferring personal assets – Livemint

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…