Bankruptcy Code
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Businesses cheered moratorium on bankruptcy proceedings – but it may actually hurt them
Banks will be hit with even more bad loans, while suppliers will struggle to recover dues, and generate cash flow.
Vinodini Srinivasan & Dhruva Gandhi
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RBI issues new guidelines on resolution of bad loans
According to the new guidelines, lenders should review accounts within 30 days of default and initiate a resolution plan before the default.
Scroll Staff
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RBI will issue revised circular on resolution of bad loans in three to four days: Shaktikanta Das
The RBI governor said it took the central bank a lot of time to prepare the revised circular as various legal matters had to be examined.
Scroll Staff
Trending
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We will leave India if told to break encryption: WhatsApp tells Delhi HC
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By mixing Carnatic and Hindustani, Mysore’s kings helped create a unique body of music
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Why is BJP wooing Bengali-origin Muslims in Assam?
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BJP Karnataka candidates Tejasvi Surya and K Sudhakar booked for electoral offences: EC
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‘Be freed from what holds you back’: Poems by Buddhist women from the Murty Classical Library
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RBI to issue revised circular on resolution of bad loans after Supreme Court strikes down 2018 order
The Supreme Court had declared the 2018 circular ‘unconstitutional and ultra vires’.
Scroll Staff
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Supreme Court strikes down RBI circular on defaulting firms, calls it unconstitutional
The RBI’s 2018 order directed banks to classify a loan account as stressed if there was even a day of default.
Scroll Staff
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President Ram Nath Kovind approves ordinance to treat home buyers as financial creditors
The home buyers can also file an application seeking insolvency resolution proceedings.
Scroll Staff
Video
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Watch: K-Pop singer Aoora sings in Assamese as he collaborates with Nilotpal Bora in a new folk song
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Watch Anu Malik and Sonu Nigam’s impromptu performance of ‘Main Hoon Na’ at Farah Khan’s home
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Watch: Doordarshan newsreader faints on live TV in Kolkata owing to severe heat
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Watch: Spice Girls sing ‘Stop’ as bandmates reunite to celebrate Victoria Beckham’s 50th birthday
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Watch: Over 350 ballerinas come together to break the world record for standing on tip toes
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Tata Steel acquires nearly 73% stake in bankrupt Bhushan Steel
The first of 12 big bankruptcy cases has been solved with Tata Steel taking control of Bhushan after paying Rs 35,200 crore to its financial creditors.
Scroll Staff
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Aircel files for bankruptcy, blames it on disruptive entry of a ‘new player’
The telecom operator said it has been facing ‘troubled times’ in the ‘highly financially-stressed’ industry.
Scroll Staff
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The amendment to the bankruptcy code may only worsen India’s bad loans problem
It bars any promoter that has run up defaults for a year or longer from bidding to repurchase their own assets that are being auctioned.
Devangshu Datta
The Reel
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The story behind the ‘Kuch Kuch Hota Hai’ title track: ‘Just write very simple poetry’
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‘Juna Furniture’ review: A simplistic crusade against the neglect of senior citizens
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‘Late Night with the Devil’ review: A deft satire on the price of success
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Watch: In ‘The Big Cigar’, the Black Panther founder flees America through a fake movie
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‘Dil Dosti Dilemma’ review: A feelgood entertainer about young love and old ties