PIRP could work for large corporates as well and can quicken the pace of resolution of large stressed assets as well.
New Delhi: Banks and other secured lenders may face a tough time in terms of reporting of non-performing assets in their books and may take to loan restructuring over the next one year as new cases under the Insolvency and Bankruptcy Code (IBC) will not be admitted, experts said. The Centre has suspended the admission […]
New Delhi: Reacting to the death of Cafe Coffee Day founder V G Siddhartha, Finance Minister Nirmala Sitharaman on Thursday said business failures in the country should not be tabooed, or looked down upon. Responding to a debate on the Insolvency and Bankruptcy Code (IBC) in the Lok Sabha, Sitharaman said that businessmen should get […]
New Delhi: Lok Sabha on Thursday passed amendments to the Insolvency and Bankruptcy Code, with the government asserting that the spirit behind the law is not to allow companies to die. Rajya Sabha has already passed the bill and with its passage in the lower house, the Insolvency and Bankruptcy Code is set to be […]
New Delhi: Seeking to fill up the gaps in corporate insolvency resolution framework, Finance Minister Nirmala Sitharaman on Wednesday tabled a bill to amend the Insolvency and Bankruptcy Code, 2016. The proposed changes in the bankruptcy law are aimed at completing the corporate insolvency resolution process (CIRP) within an overall time limit of 330 days […]
New Delhi: The Union Cabinet on Wednesday approved the Companies (Amendment) Bill, 2019 with an aim to increase ease of doing business and strengthening corporate governance. The Bill, when passed as an Act, would replace the Companies (Amendment) Second Ordinance, 2019 with certain modifications. “The proposed amendments will lead to further promotion of ease of […]
New Delhi: The performance of Indian banks has improved as Non-Performing Asset ratios have declined and credit growth accelerated, said the country’s Economic Survey 2018-19. According to the Survey, the performance of public sector banks, in particular, improved in 2018-19. “The Gross NPA ratio of Scheduled Commercial Banks decreased from 11.5 per cent to 10.1 […]