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Total 18 results found. Search for [ amend Insolvency and Bankruptcy Code ]

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PTI
June 6, 2018



BusinessToday.In
New Delhi, May 24, 2018
Death toll mounts in anti-Sterlite protestsThe anti-Sterlite agitation which took a violent turn on Tuesday, with 11 persons being killed in police firing on protesters marching to the Collectorate, has claimed another life. The death toll from the two firing incidents has gone up to 12. The State government has replaced Thoothukudi Collector N. Venkatesh and Superintendent of Police P. Mahendran. Internet services in Thoothukudi, Kanniyakumari and Tirunelveli districts have been suspended for five days to prevent the spread of rumours over WhatsApp. We, at Business Today spoke to P Ramnath, CEO, Sterlite Copper about the allegations levelled against him over non-compliance with  environmental laws. Homebuyers can claim money if builder goes bankrupt; govt clears ordinance to amend IBCThe Union Cabinet on Wednesday approved an ordinance for amendments in the Insolvency and Bankruptcy Code(IBC). The ordinance provides a relief to homebuyers who have invested in housing projects of real estate companies that have gone bankrupt. Once the proposed changes are incorporated in the Insolvency and Bankruptcy Code, 2016, homebuyers will be treated on par with financial creditors in terms of their legal rights. Like financial creditors or lenders, they will have the right to initiate a resolution process and get their money back. The ordinance also exempts MSMEs from disqualification under Section 29 of the Act. Another change to be brought through the ordinance includes the reduction of the threshold for the committee of creditors to 51 per cent from earlier threshold of 75 per cent, which will help speed up the resolution process.Amazon in advanced talks to buy 10% stake in Future Retail: ReportKishore Biyani's Future Retail Limited may have posted a net loss of over Rs 463 crore for the quarter ended March 31, 2018 - compared with a net profit of Rs 123.05 crore in the same period a year ago - but that's not deterring potential suitors. A day after the company disclosed its results, FactorDaily reported that e-commerce giant Amazon is in talks to acquire a 10 per cent stake in it. Citing sources the report added that there are other suitors too, but Amazon has the best chances and talks are in advanced stages. The deal values Future Retail - the company that owns Big Bazaar, EasyDay, Foodhall, Nilgiri's and now Foodworld, among others - at about $6 billionSBI to sell stake in SBI Gen, SBI Card and SBI Caps soon: Chairman Rajnish KumarState Bank of India is planning to sell stake in some of its subsidiaries over the next two years. Subsidiaries that may face share sale are SBI General Insurance, SBI Card and SBI Capital Market. SBI Chairman Rajnish Kumar on Tuesday informed about the decision and said: \"All our subsidiaries have done exceedingly well. They hold large value which is waiting to be unlocked. We have plans to unlock that potential in the current as well as in the next year.\"Last year, the largest state-run bank had listed its life insurance arm - SBI Life Insurance.


Mail Today Bureau
May 24, 2018
The union cabinet on Wednesday approved the promulgation of an ordinance to amend the Insolvency and Bankruptcy Code (IBC) in order to classify homebuyers as financial creditors at par with banks which will enable them to get quick refunds from defaulting builders.


PTI
May 23, 2018



PTI
May 23, 2018



PTI
May 23, 2018



PTI
May 1, 2018



PTI
December 28, 2017



Prosenjit Datta
New Delhi, November 29, 2017
Politically, it makes sense to try and make sure that people who take huge loans, get the banks into trouble by defaulting, and mismanage do not get too many chances to hold on to their companies and assets at the cost of their lenders taking a steep haircut.


Prosenjit Datta
Delhi, November 25, 2017
Section 29A could debar most existing owners.


Sameer Bhardwaj
New Delhi, November 24, 2017
It's not just public sector banks that are staring a mountain of NPAs - private sector banks are also taking a hit.


BT Online
New Delhi, November 23, 2017
President RN Kovind on Thursday gave his nod to the Ordinance to amend the Insolvency and Bankruptcy Code (IBC), 2016, which aims to prevent \"unscrupulous, undesirable persons from misusing the provisions of the IBC\". In the video Rajeev Dubey, Editor, Business Today talks about the promoters who will suffer the most because of the Ordinance.


Anand Adhikari
New Delhi, November 23, 2017
The ordinance also paves the way for new team to take over and turnaround the company. But there is likely to be complications in willful defaulters cases


BT Online
New Delhi, November 23, 2017
In addition to restrict such persons from participating in the resolution or liquidation process, the amendment also provides such check by specifying that the Committee of Creditors ensure the viability and feasibility of the resolution plan before approving it.


BT Online
New Delhi, November 22, 2017
The Code, which became operational in December last year, provides for a market-determined and time-bound insolvency resolution process. It is implemented by the corporate affairs ministry


PTI
New Delhi, October 8, 2017
The government is open to amending the Insolvency and Bankruptcy Code (IBC) to resolve practical difficulties and redress grievances, union minister P P Chaudhary has said, amid owners of many undelivered flats looking to seek relief under this law.


PTI
November 30, 2016
With insolvency professional agencies getting registered, the Insolvency and Bankruptcy Code will become operational from tomorrow.


PTI
October 2, 2016
Government has appointed four nominees, including two joint secretaries, to the Insolvency and Bankruptcy Board of India (IBBI).


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