Pragmatism and flexibility is a virtue. An untethered and short-term approach to policymaking is a flaw, argues Mihir S Sharma.
From promoters losing their firms to consumers realising there are no free lunches, 2019 was a year of getting real,says Shailesh Dobhal.
While passing the scrutiny of courts is a tough challenge, with eight proposed amendments to the insolvency law, the government has sought to turn the focus back on at least some of the functions of the bankruptcy law.
The case has been filed electronically in Manhattan's State Supreme Court and the timing is expected to cause a delay in the sale of The Weinstein Company (TWC), which is facing bankruptcy, the New York Times reported.
Finance Minister Nirmala Sitharaman on Monday assured the industry that momentum of economic reforms will continue to make India a hotspot of global investment. India has turned the crisis created by COVID-19 pandemic into an opportunity to push the economic reforms, which remained pending for decades, she said while addressing the National MNC's Conference 2020 organised by industry chamber CII.
In its multi-billion-dollar acquisition pursuit for LyondellBasell, the Mukesh Ambani-led Reliance Industries engaged 'hundreds' of advisors and personnel to access thousands of documents related to the proposed deal, which was rejected by the Luxembourg-based bankrupt chemicals major.
'I suspect the recovery that the banks are going to get out of this IBC is not going to be more than 30 per cent.' 'If you leave the steel industry aside, the recovery rates are not looking very, very healthy,' Jairam Ramesh tells the Rajya Sabha.
From crisis leaders to future Goliaths, India Inc saw them all in 2017, says Shailesh Dobhal.
Support from the committee gives Xi an indefinite extension on the reins of power, which will surely result in hawkish and insular policies. It does not bode well for relations with the USA, or with anyone else who does not bow the knee to Beijing, for that matter.
Diageo, which had acquired Mallya's United Spirits nearly six years ago, is claiming $40 million paid to the liquor tycoon as part of an alleged breach of agreement.
Beleaguered General Motors on Tuesday said it will acquire its strongest operations, including the Indian business, once the company steers itself out of bankruptcy.
'Lee Kuan Yew told me he used to look to India, especially the writings of Nehru and Sardar Panikkar, for guidance on governance.' 'It's ironic that India should have so much to learn of the spirit of democracy from his son,' notes Sunanda K Datta-Ray.
The gross bad debt of the Indian banking system as of March was at Rs 7.11 lakh crore
The department of economic affairs is said to be in discussions with various probe agencies, including the income tax department and the Enforcement Directorate, and bankers in drafting the final rules.
Govt must take few steps to improve business environment.
The final hearing in the case at the London magistrate's court to extradite Mallya to India is scheduled later this month.
When it comes to Mr Portnoy, it is hard to claim that his trading patterns are any more logical than his fictional namesake's methods of entertaining himself, notes Devangshu Datta.
With assets depreciating over time, it will lead to large haircuts for lenders and creditors, say experts
Five years on, US company that won the auction for the aircraft is running pillar-to-post, unable to take possession as DGCA hasn't deregistered the jet
Loans of over Rs 1.8 trillion, for which agreement has been signed by banks, are likely to be referred to IBC.
While RCom owes Indian banks close to Rs 45,000 crore, Ambani has lost close to $408 million of personal wealth year-to-date until Tuesday.
How President and Managing Director Karl Slym is steering General Motors India after its US parent filed for bankruptcy.
'A 180-days period -- for insolvency resolution -- is aggressive, but by no means inadequate.'
When Japan's Yokohama Rubber announced the acquisition of Alliance Tire a few days back, it was the end of the long and successful road.
Experts consider Sebi's takeover code in its present form to be on a par with any foreign code governing public mergers and acquisitions.
The Essar group hinted at challenging the verdict, citing last week's Supreme Court order that upheld the August 2018 amendment to the IBC law.
Delivering a public speech hours after the RBI launched a rescue act for Yes Bank on March 6, Governor Shaktikanta Das reiterated the RBI's affirmation to do whatever was needed to combat the coronavirus impact. On that day, India had only one confirmed COVID-19 infection, the World Health Organisation was five days off from declaring it as a pandemic and the financially debilitating lockdowns were not even on the horizon. Das' promise on efforts to mitigate COVID-19 impact appeared as a footnote in news reports from the event.
He said the society has become highly litigious and vouched for independent regulatory institutions that are free from political interference.
Yoga guru Baba Ramdev's Patanjali Ayurved on Wednesday made its first big acquisition when it paid Rs 4,350 crore to take over soya food brand Nutrela-maker Ruchi Soya through an insolvency process. The acquisition will help Patanjali acquire edible oil plants as also soyabean oil brands such as Mahakosh and Ruchi Gold.
The three options are - a one-time settlement, restructuring of loans and of course go to IBC.
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
Enron Corp's former chief accountant agreed to plead guilty on Tuesday to criminal conduct that preceded the energy giant's collapse into bankruptcy
The government would be ironing out issues related to the controversial 'bail-in' clause in the earlier Bill, explore hiking the deposit insurance cover of customers, and decide whether the resolution framework should apply to public sector banks.
The fairy tale turnaround story has, however, taken a few knocks after a second wave of the pandemic has brought a series of default notices and has posed the toughest test for the 55-year old Singh to save the airline he founded and sold to the Marans only to assume control later.
The GST bill is stuck in the Rajya Sabha where the ruling NDA govt does not have a majority as well as stiff opposition by the Congress
The Hindi booklet, distributed at a camp of Congress-affiliated Seva Dal in Madhya Pradesh, had also claimed that Savarkar and Mahatma Gandhi's killer Nathuram Godse were in a physical relationship. The book alleged that Savarkar received money from the British after he was released from Andaman's Cellular Jail.
P P Chaudhary the newly-appointed minister of state for corporate affairs, is monitoring and coordinating actions against shell companies.
Former WorldCom chief executive Bernard Ebbers, accused of masterminding a massive accounting fraud that led the telecommunications giant into bankruptcy, was convicted on charges of fraud and conspiracy by a US court.
Rera's implementation is patchy across states, and the powers of the regulator to enforce its orders are also limited.
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