Insolvency code being changed to stop wilful defaulters from bidding for stressed assets – The Indian Express

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…

Comment – Telegraph.co.uk

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…

Fianna Fáil introduce legislation that will allow borrowers to appeal a bank’s veto – Irish Examiner

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.…

SC asks Jaypee to deposit Rs 275 crore by December 31; freezes assets of 13 Jaypee directors, promoters – Business Today

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…

Govt to bring in ordinance for changes in insolvency law, says Arun Jaitley – Firstpost

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…

Govt to bring in ordinance for making changes in insolvency law – Hindu Business Line

New Delhi, Nov 22:   The Government will come out with an ordinance to make certain amendments to the Insolvency and Bankruptcy Code, Corporate Affairs Minister Arun Jaitley said today. 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.…

SC freezes properties of 13 Jaiprakash Associate directors, promoters; firm asked to deposit Rs 275 crore by … – Business Today

Trouble seems to be brewing for debt-ridden Jaiprakash Associate Limited (JAL) 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…