INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
Separate GST registrations confuse interim resolution professionals
IRPs appointed under the Insolvency and Bankruptcy Code (IBC) have approached the finance ministry, seeking clarity on several aspects regarding the Central Board of Indirect Taxes and Customs (CBIC) notification issued on Saturday and a follow-up circular on Monday, people familiar with the development said.
Not all SMEs will survive the Covid-19 crisis, but what should an economic bailout package look like?
This has been a particularly distressin...
Govt raises default threshold to Rs 1 cr for invoking insolvency proceedings against firms
Talking to reporters, Finance and Corporate Affa...
Coronavirus lockdown: Trade unions write to PM, seek Rs 5-7 lakh cr relief package
Central trade unions on Thursday urged Prime Minister Narendra Modi to announce a financial package of Rs 5-7 lakh crore for the worst-affected segments of the working population, saying their survival is in jeopardy due to coronavirus-forced lockdown in the country.
Subsequent packages to address liquidity issues to prevent wider impact of coronavirus: Rajiv Kumar, Niti Aayog
Gross Domestic Product growth is likely to be impacted in FY21 due to zero economic activity right at the beginning of the fiscal, Niti Aayog Vice Chairman Rajiv Kumar has said.
Covid-19 outbreak: PM Modi exhorts industry bosses not to cut workforce
PM Modi interacted with industry representatives from Assocham, Ficci, CII and several local business chambers from 18 cities. Uday Kotak, Anil Agrawal, Sangita Reddy, Naresh Trehan, Venu Srinivasan and Vikram Kirloskar were among the top businesspeople who attended it.
Banks should be instructed not to invoke IBC for non-payment in testing times of Coronavirus: SICCI
SICCI said that the Government should play a 'supportive role' and 'build confidence in the minds of industry while also ensuring that the economy is not crippled.' It lauded the initiatives that the Government has taken in response to curbing the outbreak but sent a list of suggestions that it believed would further help the industry.
Coronavirus impact: Banks brace for payment defaults, missed targets
Banks are likely to face significant defaults in payment and miss internal targets as more and more states announce lockdowns in the wake of the coronavirus pandemic, senior officials of a number of lenders said on Tuesday.
View: Govt's relief measures will help those worst affected by the lockdown, but will it do the trick?
Some very hard choices lie ahead for the finance minister-led economic response taskforce.
Recovery through insolvency process better compared to other options: IBBI chief M S Sahoo
The Insolvency and Bankruptcy Code (IBC), which came into effect in 2016, provides for a time-bound and market-linked resolution of stressed assets. In case, the resolution does not happen, the company concerned goes for liquidation. Sahoo, Chairperson of the Insolvency and Bankruptcy Board of India (IBBI), said incidental recovery has been pretty good under the Code.
Coronavirus impact: Over 50% of India Inc sees impact on ops, 80% witness fall in cash flow
The findings were based on interactive sessions and survey conducted by Ficci amongst the industry members.
Covid-19: How the deadly virus hints at a looming financial crisis
Covid-19 has created not just a health emergency but a financial crisis. It could not have come at a worse time for India, already in the middle of a slowdown.
IBC provides lifeline for distressed companies: Sahoo
The insolvency law provides a new lifeline for stressed companies to save them from premature death, IBBI Chairman M S Sahoo said on Friday.
Deadlines moved, rules eased & Maharashtra tops 100 coronavirus cases: All that happened today
New restrictions were placed in many states, with the Election Commission deferring Rajya Sabha elections which were scheduled for March 26. India has reported 482 cases of the coronavirus but health experts have warned that a big jump could be imminent.
Jaypee Infra will get back 858 acres: Supreme Court
The move is not only a setback to JAL's lenders - including ICICI Bank, Axis Bank, SBI and Standard Chartered Bank - but has also set a precedent for other cases with the Insolvency and Bankruptcy Board of India, which has circulated it as a guidance to insolvency resolution professionals and other cases.
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