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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What did Vinayak Damodar Savarkar think about Dalits praying in temples and eating with Brahmins?
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‘We are living in perpetual fear’: Prajwal Revanna video leaks spark panic among women in Hassan
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Translated short fiction: A 73-year-old Indian man goes to Bangladesh, his ‘land of birth’, to die
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Mumbai principal sacked after being targeted by Hindutva website; says she is mulling legal action
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‘One of the greatest statesmen’: When Canada celebrated an Indian prime minister’s visit
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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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Met Gala 2024: From Alia Bhatt to Isha Ambani, what Indians in attendance wore
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Watch: South Korean band performs Rabindra Sangeet accompanied by traditional Korean instruments
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Watch: This man fused hip-hop with Bharatnatyam to dance to Shakira’s ‘Hips Don’t Lie’
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Watch: Comedian hilariously mimics different types of announcements at railway stations
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Eco India: A new buzzword for a protein rich animal feed: Insect farming
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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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Watch: Manoj Bajpayee’s hundredth movie ‘Bhaiyya Ji’ is a revenge drama
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Start the week with a film: Why ‘Manjummel Boys’ was a blockbuster
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How actor Shahana Goswami flies under the radar and above the competition
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‘Presumed Innocent’ trailer: Jake Gyllenhaal plays a lawyer accused of murdering his lover
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‘Lampan’ trailer: Marathi series is based on Prakash Narayan Sant’s stories