While the basic premise and spirit of the Code will remain the same, the commas and the full-stops in the draft report being prepared by a high-level committee will make interpretation of the law simpler
With 600-700 new NPA cases getting admitted into NCLT every month, the demand for resolution professionals is on the rise with their number more than doubling in less than a year.
Then chief minister Jyoti Basu once told an industrialist that capitalists were class enemies and he should expect no sympathy.
The rules are being framed to maintain absolute transparency and fair play in investigations.
ICAI intends to investigate the chartered accountants of PNB but the bank allegedly refuses to give the information sought.
While the Bongaon municipality accommodates 1,200 trucks, the rest are at the mercy of private parking lots, where contractors charge an upfront fee of about Rs 4,000 per day.
'What would be questioned next?' 'Will the Copernicus theory of the sun being the centre of the universe, or Newton's theory of gravity?' asks Veena Mani.
The order was passed with dissent by two members, and four members feeling that there had been abuse of the search engine's dominant position.
Experts believe that states will be in a predicament because of their tight fiscal position and reluctance to replace their own health schemes with this newly announced National Health Protection Scheme.
A surge in taxi fares earlier led Maharashtra govt to set up committee to recommend prices for these players
JSW Steel is learnt to have submitted its resolution plan along with AION Capital
'He was sought after because he delivered.' Ishita Ayan Dutt profiles Tata Steel's new boss.
This is being done keeping in mind the urgency of these transactions, and it would help the ongoing insolvency cases, including the 12 accounts referred by RBI to banks.
The recent amendments to the IBC practically barred promoters from re-acquiring their own assets, leaving only a small window to convert their non- performing assets into standard assets by paying the overdues.
The Philippines launches probe after Sanofi reveals WHO-approved dengvaxia - a dengue vaccine - aggravates symptoms in some cases.
In 2009, ArcelorMittal had picked up a stake in Uttam Galva Steels. A new Section 29A of the IBC prohibits promoters of companies with NPAs of more than a year from bidding for these companies.
Essar group, Bhushan Steel and JSW group likely to be impacted by changes
Ministry of Corporate Affairs is now likely to examine whether all active companies have PAN or not
Their bank accounts have been frozen. State governments have been told to restrict sales and transfers of real estate assets these companies own.
Veena Mani reports.
Those involved in the discussions say the guidelines for selection of bidders in insolvency cases need to be transparent, otherwise anyone who loses out could take legal recourse, leading to wastage of time and derailing the whole process.
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