Centre suspends fresh IBC proceedings till Dec
A corporate debtor who has committed a default, can file for initiation of a corporate insolvency resolution process under Section 10 of IBC.
A corporate debtor who has committed a default, can file for initiation of a corporate insolvency resolution process under Section 10 of IBC.
Last year, the Mumbai bench of the National Company Law Tribunal (NCLT) had admitted the company for insolvency resolution.
Earlier this week, the Union cabinet headed by the Prime Minister Narendra Modi, approved the changes made to the companies law.
CLSA said the sustained improvement in housing could drive economic growth revival.
The government is now expected to introduce the IBC (Amendment) Bill, 2019, maximising value from the Corporate Insolvency Resolution Process.
Banks are working on a plan B in case things don't progress as expected
The verdict upheld the Section 29A of the Code that bars promoters of a company facing insolvency proceedings from bidding to regain its control.
Noting that there has long been a legacy of corporate debt associated with bad infrastructure projects in India, Maurice Obstfeld said it has been very concentrated in banking system.
The rift between the government and the RBI surfaced after Deputy Governor Viral Acharya in a hard-hitting speech on Friday pitched for “effective independence” of the central bank.
In 2017, India had recorded a 6.7 per cent growth rate.
