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The Reserve Bank on Friday sent the troubled mortgage lender for bankruptcy proceedings, making it the first financial services player to go to the NCLT for a possible debt resolution.
DHFL shares fall nearly 5 pc as RBI starts resolution process
02 Dec 2019 4:42 PM

Over 17 lakh shares of DHFL were traded on the NSE, while the BSE saw an exchange of 4.51 lakh shares.

We are working out a mechanism where the resolution applicant, who through this entire court supervised process is acquiring a stressed asset as a going concern, will not be encumbered by the criminal liability relating to the company which has been caused by the previous management, an official said.
Govt plans to amend IBC to ring-fence buyers of stressed assets from prosecution
24 Nov 2019 5:28 PM

The move will help make the insolvency process more attractive for the bidders and instil confidence in them, sources said.

The corporate insolvency resolution process for an FSP would be initiated ‘only on an application by the appropriate regulator’. (Photo: ANI)
NBFCs with Rs 500 cr assets can go for insolvency resolution
19 Nov 2019 9:36 AM

On Friday, the ministry notified the framework for dealing with systemically important FSPs, excluding banks.

Finance Minister Nirmala Sitharaman.
No need to escalate one case to reflect everything to do with IBC: Sitharaman
21 Oct 2019 9:59 AM

Bankruptcy law of India which seeks to consolidate the existing framework by creating a single law for insolvency and bankruptcy.

It is not a very happy situation. There is a feedback...threshold approach has to be looked at, Corporate Affairs Secretary Injeti Srinivas.(Photo: File)
Govt mulls raising Rs 1 lakh default threshold for invoking IBC: Srinivas
14 Oct 2019 10:16 PM

The banks should be looking at other options for recovering loans before invoking the IBC, said Corp Affairs Secy Injeti Srinivas.

A bench headed by Justice R F Nariman, which disposed of a batch of over 180 petitions filed by various builders. (Photo: File)
SC upholds IBC amendments, status of homebuyers as financial creditors
09 Aug 2019 12:07 PM

The bench said only genuine homebuyers can invoke insolvency proceedings against the builder.

The full service carrier stopped flying on April 17 as it ran out of money for daily operations.
Jet Airways employees seek interim financial relief
06 Aug 2019 3:47 PM

AK Mohanty said one month's salary should be released to Jet Airways employees for their basic survival.

Finance Minister Nirmala Sitharaman.
Finance Minister Sitharaman to meet CEOs of PSU banks on Friday
01 Aug 2019 10:19 AM

The country's largest bank, State Bank of India, has lending worth Rs 1.76 lakh crore classified as NPA till march 2019.

The NCLAT had asked state-owned NBCC, whose bid was rejected by the CoC of Jaypee Infratech, to submit fresh resolution plan for the debt-ridden company.
NCLAT extends Jaypee Infratech insolvency period by 90 days
30 Jul 2019 3:03 PM

Appellate tribunal rejected the plea of Jaiprakash Associates Ltd, the promoters of Jaypee Infratech, to be eligible to submit bid.

NCLAT gave operational creditors equal status as lenders in the distribution of the ArcelorMittal's bid amount among the creditors of Essar Steel.
Supreme Court orders status quo in Essar insolvency case
22 Jul 2019 11:30 AM

Essar Steel was auctioned under the new IBC to recover Rs 54,547 crore of unpaid dues of financial lenders.

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