[ad_1] Few come out smelling of roses from the Supreme Court (SC) ruling that annulled the takeover of Bhushan Power and Steel Ltd (BPSL) by Jindal Steel and Power Ltd (JSPL) and ordered BPSL’s liquidation, using the SC’s special powers to ensure “complete justice” under Article 142 of India’s Constitution. The successful bidder, JSPL, the…
[ad_1] India’s ministry of corporate affairs (MCA) is considering the establishment of an oversight body to monitor the functioning of Committees of Creditors (CoC) under the Insolvency and Bankruptcy Code (IBC). This follows a code of conduct for CoC operations implemented in August 2024, prompted by the Delhi high court’s call for improved accountability. The…
[ad_1] Unless we as a society address its shortcomings, we will only be leaping from the frying pan into the fire: i.e., we would be left with another hurdle in India’s already slow-moving justice system. Tribunals were established to handle exclusive matters requiring specialized knowledge. The rationale was clear: quicker resolution, expert adjudication and a…
[ad_1] When this approval is sought is important, as a balance must be maintained between the CCI’s review of competition dynamics and the time-sensitive insolvency process. Also Read: There’s no arguing with the broad thrust of CCI’s order on WhatsApp’s use of data Recently, the Supreme Court in the case of Independent Sugar Corporation Ltd…
[ad_1] ‘India’s insolvency regime must evolve beyond mere debt resolution to serve as a proactive driver of economic rejuvenation’ | Photo Credit: Getty Images/iStockphoto The Insolvency and Bankruptcy Code, 2016 (IBC) is one of India’s most significant economic reforms, introduced to address the challenges of insolvency resolution in a structured and time-bound manner. At the…
[ad_1] One person who attended the dinner said the event was meant to underline Union Bank’s intent to offload bad loans. In FY25, the attendee said, the bank wanted to sell loans worth ten times more than those sold the previous year. The ambitious target came as music to the ears of an industry grappling…
[ad_1] A Supreme Court judgment in a real estate debt resolution case that gave state agencies the rights of a bank over the assets of a troubled real estate company has thrown bankruptcy resolution experts in a tizzy. Experts said the court ruling runs against the Insolvency and Bankrupcy Code (IBC), which says secured creditors—or…
