Bankruptcy Code

It is surprising as the lenders mostly lend loans keeping in mind the margin and the promotor's contribution

Srei Infrastructure Finance and Srei Equipment Finance were admitted for bankruptcy following applications filed by the Reserve Bank of India in October 2021

IBC amendments likely in the Budget Session, MCA also rethinking priority given to govt dues in the waterfall mechanism

As many as 55 companies submitted expressions of interest (EoIs) for Reliance Capital but only a few submitted binding bids

IBBI says while this reflects extent of value erosion by the time a corporate debtor enters CIRP, it remains the highest among all options available to creditors for recovery

Sum includes transactions amounting to Rs 1,283 cr determined as undervalued; Srei Equipment Finance is currently undergoing corporate insolvency resolution process

The collapse this week of FTX dealt another blow to the cryptocurrency industry, which has seen severe volatility and bankruptcies of other high-profile firms, including Celsius Network Ltd

Contents of these circulars have already been included subsequently in updated regulations issued by the IBBI

They have been losing business as the IBC process picks up pace

This is the third deadline extension as the lenders seek better offers from the bidders

Decision is in compliance with 2017 RBI circular asking financial creditors to submit financial information to an information utility under Section 215 of IBC

If any claim is not filed during the liquidation process, the amount of claim collated during CIRP should be verified by the liquidator

IBBI had invited comments from the stakeholders to suggest if parts of stressed assets could be sold off instead of as a whole

The company has repaid outstanding principal of Rs 121.78 crore to the bank, is in talks with other lenders for debt resolution plan

FLFL - in its filing with the BSE - said Saraf and Partners, advocates, on behalf of BoI, has served a petition under Section 7 of the IBC 2016

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Proposals call for marketing strategy where total claims exceed Rs 100 cr; creditors can also propose steps to market stressed assets

Options of settling the finances of eight units of Reliance Capital that are financially sound leads to disagreement between bidders and administrator.

The process to rescind would be the same as was followed to initiate it - approval by a special resolution, passed by members or partners

Lockdowns worldwide prompted by the coronavirus outbreak have wrecked economic growth and led to bankruptcies of firms