On the eve of the budget, the big announcement of last year’s budget of establishing a National Asset Reconstruction Company (NARCL) is yet to be implemented due to procedural logjam. The ask in this budget is to introduce amendments to Insolvency and Bankruptcy Code (IBC Code) that are amenable to implementation and help the common … Read more
The government on Thursday invited comments on various amendments proposed to the insolvency law, including to provisions related to time period for approval of resolution plans as well as avoidable transactions and wrongful trading. The amendments have been proposed by the Insolvency Law Committee (ILC). The comments have been sought till January 13, 2022. According … Read more
International Finance Service Centre (IFSC) at Gujarat International Finance Tec (Gift) City, a Special Economic Zone (SEZ), was conceptualised to create an offshore jurisdiction in India. The plan was to capture some of the business that was being carried out in Singapore, Mauritius, Dubai, Hongkong, London and similar centres of global finance. A host of … Read more
New Delhi, The government on Tuesday said that financial creditors have realised Rs 2.45 lakh crore or 36 per cent of their total claims under the insolvency resolution process till the end of June. As many as 4,540 companies were admitted under the corporate insolvency resolution process as of June 30 this year. The process … Read more
India should shift its focus from the percentage to the quality of fiscal deficit, union home minister Amit Shah told ET, adding that what was important is to ensure that extra money is invested in “productive” ways. In a wide-ranging exclusive interview to ET, Shah said there was no “requirement” to withdraw the ban on … Read more