Category Archives: Liquidation

BRIEF-Bharati Defence & Infra announces initiation of corporate insolvency resolution process – Reuters

Bharati Defence & Infrastructure Ltd * Intimation of initiation of corporate insolvency resolution process (CIRP), appointment of interim resolution professional (IRP) Source text: bit.ly/2rHMWGk Further company coverage: ‘); $(‘.second-article-divide’).append($(‘.slider.slider-module’)); $(‘.third-article-divide’).append(‘ Also In Bankruptcy News ‘); var median = (relatedItemsTotal / 2); var $relatedContentGroupOne = $(‘.related-content.group-one ul’); var $relatedContentGroupTwo = $(‘.related-content.group-two ul’); $.each($relatedItems, function(k,v) { if…

BRIEF-Bharati Defence & Infra announces initiation of corporate insolvency resolution process – Reuters

June 19 Bharati Defence & Infrastructure Ltd * Intimation of initiation of corporate insolvency resolution process (CIRP), appointment of interim resolution professional (IRP) Source text: bit.ly/2rHMWGk Further company coverage: ‘); $(‘.second-article-divide’).append($(‘.slider.slider-module’)); $(‘.third-article-divide’).append(‘ Also In Bankruptcy News ‘); var median = (relatedItemsTotal / 2); var $relatedContentGroupOne = $(‘.related-content.group-one ul’); var $relatedContentGroupTwo = $(‘.related-content.group-two ul’); $.each($relatedItems, function(k,v)…

Bad loan accounts: IDBI starts insolvency proceedings against Lanco Infratech – Deccan Chronicle

Mumbai: Insolvency proceeding against Lanco Infratech, one of the 12 loan defaulting banks identified by the Reserve Bank of India (RBI) has been started by IDBI. The proceeding comes on the heels of the RBI directing certain banks to take action against defaulting borrowers. According to the Economic Times, IDBI has initiated the proceeding under…

VIEW: Power of the liquidation law lies in not using it – Economic Times

The words `liquidation’, `bankruptcy’ and `insolvency’ carry an unmistakable sense of drama -a tone of finality, a sign of unforgiving verdict, and a hint of a new beginning. Amid screaming headlines and flashes of `breaking news’ announcing the start of bankruptcy proceedings against 12 truant corporate borrowers, one is led to believe that the wheels…

Insolvency And Bankruptcy Board Notifies Fast Track Insolvency … – Live Law

The Insolvency and Bankruptcy Board of India (IBBI) has notified the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017. The Ministry of Corporate Affairs has notified the relevant sections 55 to 58 of the Insolvency and Bankruptcy code,2016 pertaining to the Fast Track Process and also notified that…

Bankruptcy Board notifies norms for fast-track insolvency resolution for start-ups – Livemint

The rules notified by the insolvency regulator explain the procedures and timelines to be followed to help in resolution of insolvency within 90 days such as announcement of the appointment of interim resolution professionals (IRPs) and submission of claims of financial dues. Photo: AFP More From Livemint » Mumbai: The Insolvency and Bankruptcy Board of…

RBI Directs IDBI Bank To Start Insolvency Proceeding Against Lanco Infratech – NDTV

New Delhi: Lanco Infratech today said the Reserve Bank has directed its lead lender IDBI Bank to initiate insolvency proceedings for the company under the Insolvency and Bankruptcy Code (IBC). “Lanco Infratech Limited (LITL)…vide letter dated June 17, 2017, intimated under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that Reserve Bank…

Lanco Infratech confirms RBI order on insolvency process – Economic Times

MUMBAI: Lanco Infratech Ltd confirmed on Saturday that India’s central bank had directed the company’s lead lender IDBI Bank to initiate a corporate insolvency resolution process under the country’s bankruptcy laws. Lanco is among 12 companies that the Reserve Bank of India (RBI) has ordered lenders to take to bankruptcy court as it strives to…

Parliament passes new superannuation bill | Nest Egg – nestegg.com.au

A bill that contains changes to the governments superannuation tax reforms, including for limited recourse borrowing arrangements and transition to retirement income streams, has passed both houses of Parliament. Treasury Laws Amendment (2017 Measures No. 2) Bill 2017 was approved by both the House of Representatives and the Senate on Thursday 15 June, and makes changes…

Faster insolvency: New process in place for start-ups, small cos – The Indian Express

By: ENS Economic Bureau | New Delhi | Published:June 17, 2017 3:03 am The Insolvency and Bankruptcy Board of India (IBBI) has notified provisions to expedite the resolution process of default cases of small companies and start-ups within 90 days, according to an official statement. Currently, the Insolvency and Bankruptcy Code (IBC), under which the…