Page 2 - Liquidation

RBI believes differing policy strategy, policy stance can co-exist: Report

Bond yields have shed seven basis points to 6.73 per cent on Thursday after touching 6.88 per cent on the Budget day

Delhi HC stops coercive action by ED against firms under liquidation in IBC

In a detailed ruling on interplay between IBC and PMLA, the court allowed a writ petition by a liquidator to proceed with the liquidation process of a corporate debtor

No income tax NOC/NDC required for voluntary liquidations, says IBBI

Section 178 of the Income-tax Act, 1961 obligates a liquidator to fulfil certain income tax related requirements

Nearly 47% closed cases under IBC in liquidation till June, says IBBI

Nearly 47% closed under the insolvency law ended up in liquidation till the end of June but economic value in majority of the cases had eroded even before commencement of the corporate insolvency

IBBI proposes amendments in liquidation norms to increase transperancy

In a bid to increase transparency in the liquidation process under the Insolvency and Bankruptcy Code (IBC), IBBI has proposed amendments to the regulations

NCLT rejects Siva Industries' debt resolution under IBC, orders liquidation

Siva Industries was admitted to the bankruptcy court on July 5, 2019

Pegasus scandal: NSO owner likely to be liquidated, says report

The development will represent another twist in the escalating scandal over the activities of NSO

NCLAT stays liquidation of Three C Homes; asks NCLT to consider options

The National Company Law Appellate Tribunal has set aside NCLT's direction to liquidate Three C Homes and ordered that other options be considered for resolution of the debt-ridden realty firm.

Arbitral tribunal rules ZCCM breached dispute resolution provisions over Vedanta mines

A Zambian court has stayed hearing by a state-appointed provisional liquidator for splitting up Vedanta Resources' Konkola Copper Mines (KCM) unit and selling the assets. The stay on KCM liquidation proceedings has been granted to allow Vedanta and the Zambian government to proceed to arbitration, Vedanta said in a filing to the Singapore Stock Exchange. Metals and mining firm Vedanta Resources held a 79.4 per cent stake in KCM while the Zambian government through its state mining investment firm ZCCM-IH holds the remaining 20.6 per cent. Vedanta has been locked in a dispute with the Zambian government since May 2019, when the Zambian government handed control of the mine to a liquidator. Legal arguments over the case have been heard in both Zambia and South Africa. "Zambian Court of Appeal has granted a stay in respect of any hearing of the merits of the Winding Up Petition and Amended Petition in respect of Konkola Copper Mines plc pending a decision in respect of the arbitrati

Liquidation an outcome of market forces: IBBI chairperson M S Sahoo

Sahoo was responding to the criticism that only 25 per cent of IBC cases end up in resolution while the remaining get liquidated

More than 60% of insolvency proceedings led to liquidation in Sep quarter

Liquidations were only one-third of total cases closed in the previous quarter

Liquidations under IBC in Q2 jump, new applications remain subdued

Critics of the IBC have often pointed out that the delays in admission, resolution and liquidation might be making it an unattractive proposition

Lavasa may go for liquidation: Lenders didn't get even Rs 5-cr upfront cash

Originally set up by HCC in 2000, Lavasa was developed as a picturesque hill station near Pune.

IBBI allows transfer of illiquid assets and debt for quicker case closure

The rules come at a time when the liquidation process takes much longer than envisaged under IBC

Liquidation process can allow public auction of non-realisable assets: IBBI

Says if auction is not possible, the assignment--transferring the rights and obligation of an asset--may be done on arm's length basis by the liquidator

Videocon lenders to seek better offers before last call on liquidation

As economy picks up, they expect bidders to come back to table

Insolvency and Bankruptcy Board amends liquidation process regulations

IBBI is a key institution in implementing the Insolvency and Bankruptcy Code (IBC), which provides for market-linked and time-bound resolution of stressed assets

Bond market warms up to NBFCs, but India's top-rated companies benefit

The liquidity situation for non-banking financial companies (NBFCs), which had been facing a crunch on this front for some time now, is improving.

Suitors for Jet Airways narrow down to four from 12, final list on June 10

RP is set to present resolution plan, if any, to adjudicating authority on July 23

Realisation of 823 firms under IBC only 7% of admitted claims till January

Till January, financial creditors had recovered around 44.01 per cent