The non-bank financing giant Dewan Housing Finance Corp Ltd (DHFL) will go into insolvency proceedings, the central bank said on Wednesday, making it the first financial institution to test the new laws

DHFL is the first Housing Finance Company (HFC) or non-banking finance company (NBFC) to be sent to the bankruptcy court

The Essar verdict not only gives the single largest realisation from any asset to financial creditors, qualitatively also this is the biggest for the financial sector in getting their due rights and primacy in the scheme of things

A new report by PropEquity stated that sales of housing units fell 10 per cent across India's top nine cities to 52,885 units in the third quarter of 2019 versus the year-ago quarter

After completion, ArcelorMittal will jointly own and operate ESIL in partnership with Nippon Steel Corporation, Japan's largest steel producer

The Union minister of state for finance said India continues to the fastest growing economy in the world even though many countries in the world are facing economic slowdown

The 20-day session, scheduled between November 18 and December 13, will see the introduction of 27 bills, consideration and passage of 12 Bills and withdrawal of seven

Parliament Winter Session: The winter session of Parliament is going to take up key economic bills for discussion including the Insolvency and Bankruptcy Amendment Bill, Taxation Law Amendment Ordinance and Competition (Amendment) Bill etc

Catch the latest top stories from the world of business and economy with BusinessToday.In's end of day (EOD) report

The apex court reversed the order of NCLAT and reiterated that the secured financial creditors have primacy over operational creditors

Essar Steel case: The court stated that the NCLAT cannot interfere with the committee of creditors' commercial decisions

Corporate India strengthened its resolve and tightened its belt, but slowdown hit market capitalisation of BT 500 companies for the first time in seven years.

The letter dated November 11 asks insolvency professionals to give reasons for non-completion, and name the person(s) responsible for non-completion, if any, 'to enable the board to seek appropriate legal remedy permissible under the IBC for any contravention causing such non-completion'

Catch the top stories from the world of business and economy with BusinessToday.In's end of day (EOD) report

A big chunk of these write-offs happened over the last two years; one of the big reasons for high level of write-offs is the Insolvency & Bankruptcy Code

Corporate India strengthened its resolve and tightened its belt, but slowdown hit market capitalisation of BT 500 companies for the first time in seven years.

So far IVRCL got 'expression of interest' from two parties, while a third one may also be interested, says liquidator Sutanu Sinha. The NCLAT that has put a stay on the sale of assets of the company will be hearing the case on November 18

Persisting liquidity issues in the NBFC space as well as the financial woes of some groups in this sector have raised concerns about the health of the overall financial system