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Latest from bankruptcy code

Electric vehicle maker Nikola files for bankruptcy protection | What it means?

Electric truck maker Nikola and some of its subsidiaries have filed for Chapter 11 bankruptcy protection in the US. Read on to know what this means

Nikola, a US-based EV maker and competitor of Elon Musk's Tesla, has filed for bankruptcy. (Reuters)

business

Updated on Feb 19, 2025 09:27 PM IST

ByAshley Paul

Terms of Trade | What ails competitive capitalism in India

Viral Acharya's new paper, which is likely to create a big debate, suggests that the monopolistic practices of a few firms are contributing to inflation.

Acharya, essentially speaking, is arguing that the state enforces greater discipline on capital to get rid of economic inefficiencies. (Mint File Photo)

opinion

Published on Mar 31, 2023 07:55 PM IST

ByRoshan Kishore

Bankruptcy code reforms must be handled with special caution

Let market forces determine value while we focus on speedy case clearance and professional training

business

Published on Aug 12, 2021 06:42 PM IST

ByAbizer Diwanji, Neeti Shikha, Livemint, New Delhi

Centre extends IBC suspension till March

The Insolvency and Bankruptcy Code (IBC) was initially suspended for six months from March 25, which was later extended by another three months ending December 24.

Finance Minister Nirmala Sitharaman chairs the pre-budget meeting with experts of water and sanitation sectors, at North Block in New Delhi, Friday.(PTI)

business

Published on Dec 21, 2020 11:56 PM IST

Livemint, New Delhi | ByGireesh Chandra Prasad and Shreya Nandi

LS approves strict foreign funding rules, works beyond midnight

The Lok Sabha passed the Foreign Contribution (Regulation) Amendment Bill, 2020 aimed at making rules governing the foreign funding of non-government organisations (NGOs) more stringent and also mandating Aadhaar for all office bearers of these organisations.

The long working hours in Lok Sabha took place on a day when the Rajya Sabha proceedings were adjourned without much work due to disruptions by Opposition MPs.(PTI)

india news

Published on Sep 22, 2020 02:11 AM IST

Hindustan Times, New Delhi | ByHT Correspondent, New Delhi

Lok Sabha passes amendment in Insolvency and Bankruptcy Code for firms under stress due to Covid-19

The Rajya Sabha passed the bill on Saturday. The bill seeks to replace an ordinance promulgated to provide relief to pandemic-hit firms in June this year.

Finance minister Nirmala Sitharaman told the house that the ordinance was issued to provide “immediate relief” to companies as the government had to prevent companies, stressed due to Covid-19, from being pushed into insolvency.(PTI PHOTO.)

india news

Updated on Sep 21, 2020 09:07 PM IST

Hindustan Times, New Delhi | ByHT Correspondent

Parliament monsoon session: RS passes insolvency, bankruptcy bill

Union Finance Minister Nirmala Sitharaman had moved the Bill for consideration and passing in the Upper House. The bill is aimed at replacing the Insolvency and Bankruptcy Code (Amendment) Ordinance 2020

Finance minister Nirmala Sitharaman speaks in the Rajya Sabha on Saturday.(PTI)

india news

Published on Sep 19, 2020 12:30 PM IST

Hindustan Times, New Delhi | ByHT Correspondent

Chart plan to recover AGR dues: Supreme Court

While observing that recovery of dues may not be possible from telcos undergoing insolvency, the apex court asked the government whether spectrum can be sold under the Insolvency and Bankruptcy Code (IBC). The case has been adjourned to August 14.

The court, however, did not mention the order reserved on the staggered payment of dues by Vodafone Idea Ltd, Bharti Airtel Ltd and Tata Teleservices.(Amal KS/HT PHOTO)

india news

Updated on Aug 11, 2020 04:52 AM IST

Hindustan Times, New Delhi | ByIshita Guha and Japnam Bindra

For MFs, recovery of risky assets turn bleak

Side-pockets, or a segregated portfolio, ensures money invested in MF debt schemes, linked to stressed assets, gets locked until the fund recovers the cash from the company.

Mutual funds typically are not aggressive on recoveries.(Getty Images/iStockphoto)

business

Published on Jun 08, 2020 05:02 AM IST

Hindustan Times, Mumbai | ByJayshree P. Upadhyay and Neil Borate

In its approach to the IBC, the government got it right| Analysis

Instead of a blanket suspension, it went for a calibrated suspension. It will help India gain over other jurisdictions

Finance minister Nirmala Sitharaman’s announcements are thus being met with relief, though some ambiguity remains(Hindustan Times)

analysis

Updated on May 20, 2020 08:58 PM IST

ByAnurag Das

Some options for the RBI as it preps to kickstart post-Covid economy | Opinion

RBI Governor Shanktikanta Das RBI will have to balance often contradictory priorities and on a gigantic scale. Some changes will help

Reserve Bank of India Governor Shanktikanta Das RBI can opt for some changes to help keep the central bank’s regulation top notch(Pradeep Gaur/Mint)

analysis

Updated on Apr 14, 2020 05:47 PM IST

BySaket Misra

What the Union Budget did not say | Opinion

The focus should have been on rejuvenating the informal economy, not the vision of formalisation

A distress-ridden rural and informal sector has the potential of triggering a contagion in the formal economy as well(Ajay Aggarwal/HT PHOTO)

analysis

Updated on Sep 06, 2020 05:36 PM IST

Hindustan Times | ByRoshan Kishore

‘Go ahead with new energy’: PM Modi tells India Inc to invest boldly despite slowdown

The prime minister’s comments assume significance amid a deep downturn in the economy, led by sluggish consumption, and subdued private investment in the country.

Prime Minister Narendra Modi poses for a group photo with Reliance Industries chairman Mukesh Ambani, Tata Group patriarch Ratan Tata, Business tycoon Anand Mahindra and others during an interaction with leading business leaders, in New Delhi, Jan. 6, 2020.(PTI)

business

Updated on Jan 07, 2020 06:34 AM IST

Livemint, New Delhi | ByShreya Nandi

What worked for the economy in 2019 | Opinion

Despite the bleak indicators, there were 10 positive developments, giving hope for the future

It was a poor budget, but the government did well in rolling back key proposals(ANI)

columns

Updated on Jan 01, 2020 08:46 AM IST

ByShekhar Gupta

How tweaks in IBC and partial credit guarantee scheme affect real estate sector

According to one of the amendments, financial creditors will now have to meet an additional threshold to take a company to bankruptcy court.

The Union Cabinet on Wednesday approved key amendments to the Insolvency and Bankruptcy Code (IBC) Bill. (Photo by Sunil Ghosh / Hindustan Times)

real estate

Updated on Dec 12, 2019 11:49 AM IST

Hindustan Times, New Delhi | ByHT Correspondent

Nifty, Sensex end higher as banks surge; telecom stocks jump on price hike plan

The Supreme Court of India on Friday cleared the path for steelmaker ArcelorMittal SA to take over bankrupt Essar Steel, and the judgment comes as a big reprieve for banks which are struggling with bad loans worth $140 billion.

Nifty, Sensex end higher as banks surge(REUTERS)

business

Updated on Nov 19, 2019 04:04 PM IST

Reuters | ByReuters

‘When time arises’: Anurag Thakur on govt deciding on income tax relief

With regard to curbs on Punjab & Maharashtra Co-operative Bank (PMC Bank) by the RBI, the minister said the central bank has its own role in the country and it does its job well.

Last week, the government lowered the corporate tax to 22 per cent from 30 per cent and there has been a clamour for raising income tax exemption limit to push demand and consumption with a view to fuel economy.(PTI)

india news

Updated on Sep 26, 2019 10:30 PM IST

New Delhi | ByPress Trust of India

Jet Airways founder Naresh Goyal being grilled by Enforcement Directorate

The Enforcement Directorate (ED) had recently conducted searches at about a dozen premises of Naresh Goyal and his associates in New Delhi and Mumbai.

Jet Airways founder Naresh Goyal(Reuters file photo)

india news

Updated on Sep 06, 2019 04:38 PM IST

Hindustan Times, Mumbai | ByPratik Salunke

NCLT directs insolvency proceedings against realty firm Three C Projects

A two-member principal bench, headed by President Justice M M Kumar, admitted a plea filed by five flat buyers who had booked homes in the company’s Lotus Zing project in Noida, Uttar Pradesh.

The National Company Law Tribunal (NCLT) has ordered start of insolvency proceedings against Delhi NCR-based realty firm Three C Projects Ltd(Getty Images/iStockphoto)

real estate

Updated on Aug 30, 2019 11:40 AM IST

Press Trust of India | ByPress Trust of India

What changed for businesses, people during Arun Jaitley’s watch

In a Facebook post on 1 July this year on the completion of two years of GST, Jaitley described obstacles to India’s biggest tax reform since independence.

In 2014, the National Democratic Alliance (NDA) inherited an economy which was struggling with over-leveraged companies and banks saddled with a mountain of toxic assets.(HT image)

business

Updated on Aug 25, 2019 10:14 AM IST

Hindustan Times, New Delhi | ByGireesh Chandra Prasad

ED conducts raids at Jet founder Naresh Goyal’s premises

They said the searches are being carried out under the provisions of the Foreign Exchange Management Act (FEMA) and are aimed at gathering additional evidence.

The Enforcement Directorate conducted searches on Friday at the premises of Jet Airways founder Naresh Goyal in connection with a case of alleged contravention of the foreign exchange law.(REUTERS)

india news

Updated on Aug 24, 2019 01:41 AM IST

New Delhi/Mumbai | ByHT Correspondents

RBI has done its bit, now over to the government

The general sense of gloom in business needs to change before we can expect economic growth.

RBI has lowered its growth projections for the first half of the year sharply.(Aniruddha Chowdhury /Mint)

analysis

Updated on Aug 08, 2019 08:50 AM IST

ByIla Patnaik

Parliament highlights: Nirmala Sitharaman moves Insolvency bill in Lok Sabha

Minister of Finance Nirmala Sitharaman moved the Insolvency and Bankruptcy Code (Amendment) Bill, 2019 in Lok Sabha on Thursday, while Minister of Tourism, Prahalad Singh Patel, was expected to move the Jallianwala Bagh National Memorial (Amendment) Bill, 2019.In Rajya Sabha, Minister of Health and Family Welfare Harsh Vardhan tables the The National Medical Commission Bill, 2019. This bill will provide a better quality medical education and also make it affordable.Home Minister Amit Shah will move that The Unlawful Activities (Prevention) Amendment Bill, 1967 be further amended.Highlights:

india news

Updated on Aug 01, 2019 09:27 PM IST

Hindustan Times, New Delhi | ByHT Correspondent

As session gets extra time, govt eyes passage of labour code and key bills

Minutes after the Lower House cleared the Triple Talaq bill, parliamentary affairs minister Pralhad Joshi placed the proposal of extension which was immediately accepted.

Lower House cleared the Triple Talaq bill.(AFP)

india news

Updated on Jul 26, 2019 03:17 AM IST

New Delhi | ByHT Correspondent

Government okays tweaks to IBC for easier debt resolution

The eight amendments to the Insolvency and Bankruptcy Code (IBC) will also aid decision-making in the case of bankrupt entities such as property developers, which have a large number of creditors, including homebuyers.

The amendments are aimed at speeding up the bankruptcy resolution process that has been mired in litigation and correcting anomalies that have crept into its functioning since the law came into force in 2016.(HT Photo)

india news

Updated on Jul 18, 2019 12:24 AM IST

Hindustan Times, New Delhi | ByGireesh Chandra Prasad

Nirmala Sitharaman counters Chidambaram

Nirmala Sitharaman, in her reply on Budget in the Upper House, hit out at P. Chidamabaram by saying that he had not made like-to-like comparison over income tax and custom duty collections, which perhaps led him to wrong conclusions.

Nirmala Sitharaman listed out various measures to spur investment, raise household savings and achieve the mid-term goal of India becoming a $5 trillion economy.(Arvind Yadav/HT PHOTO)

budget

Updated on Jul 12, 2019 11:51 PM IST

New Delhi | ByHT Correspondent

SC asks Centre for ‘uniform’ plan to protect homebuyers

The bench of justices AM Khanwilkar and Dinesh Maheshwari made the remark while hearing a petition filed by homebuyers who invested in projects by Jaypee Infratech Limited (JIL) but suggested a mechanism could be worked out to help cases involving other realtors as well.

According to the petitioners, the IBC law — passed in 2018 — does not guarantee the interests of homebuyers in case a project cannot be revived and has to be liquidated. (Pradeep Gaur/ Mint)

india news

Updated on Jul 09, 2019 11:15 PM IST

Hindustan Times, New Delhi | ByHT Correspondent

Budget 2019: Govt to infuse Rs 70,000 crore into state-owned banks

Unveiling Budget 2019-20, Nirmala Sitharaman said non-performing assets of PSBs have come down by Rs 1 lakh crore.

Finance Minister Nirmala Sitharaman Friday announced that the government will pump in 70,000 crore into public sector banks (PSBs) to strengthen them and enhance their lending capacity.(ANI Twitter)

budget

Updated on Jul 05, 2019 01:02 PM IST

New Delhi | ByPress Trust of India

Build the budget around government spending

In India’s boom years ahead of the 2008-09 economic crisis, it was investment, albeit private, that powered growth. With the export market under significant squeeze today compared to what it was before the crisis, one important driver for private investment is missing

The Indian economy’s biggest vulnerability is oil, and in its first term, the Modi-led government benefited from a benign global oil-price regime. That isn’t available to the new government(PTI)

columns

Updated on Jun 08, 2019 06:10 PM IST

Hindustan Times | ByChanakya

Modi won because he delivered on his promises

The key takeaway from the verdict is that governance is here to stay, and identity politics is on its last legs

Narendra Modi managed to create history by becoming India’s first reformist prime minister to be voted back to power, and that too, with a bigger mandate(AFP)

analysis

Updated on Jun 05, 2019 06:52 PM IST

ByArvind Gupta

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bankruptcy code news

Latest from bankruptcy code

Electric truck maker Nikola and some of its subsidiaries have filed for Chapter 11 bankruptcy protection in the US. Read on to know what this means

Viral Acharya's new paper, which is likely to create a big debate, suggests that the monopolistic practices of a few firms are contributing to inflation.

Let market forces determine value while we focus on speedy case clearance and professional training

The Insolvency and Bankruptcy Code (IBC) was initially suspended for six months from March 25, which was later extended by another three months ending December 24.

The Lok Sabha passed the Foreign Contribution (Regulation) Amendment Bill, 2020 aimed at making rules governing the foreign funding of non-government organisations (NGOs) more stringent and also mandating Aadhaar for all office bearers of these organisations.

The Rajya Sabha passed the bill on Saturday. The bill seeks to replace an ordinance promulgated to provide relief to pandemic-hit firms in June this year.

Union Finance Minister Nirmala Sitharaman had moved the Bill for consideration and passing in the Upper House. The bill is aimed at replacing the Insolvency and Bankruptcy Code (Amendment) Ordinance 2020

While observing that recovery of dues may not be possible from telcos undergoing insolvency, the apex court asked the government whether spectrum can be sold under the Insolvency and Bankruptcy Code (IBC). The case has been adjourned to August 14.

Side-pockets, or a segregated portfolio, ensures money invested in MF debt schemes, linked to stressed assets, gets locked until the fund recovers the cash from the company.

Instead of a blanket suspension, it went for a calibrated suspension. It will help India gain over other jurisdictions

RBI Governor Shanktikanta Das RBI will have to balance often contradictory priorities and on a gigantic scale. Some changes will help

The focus should have been on rejuvenating the informal economy, not the vision of formalisation

The prime minister’s comments assume significance amid a deep downturn in the economy, led by sluggish consumption, and subdued private investment in the country.

Despite the bleak indicators, there were 10 positive developments, giving hope for the future

According to one of the amendments, financial creditors will now have to meet an additional threshold to take a company to bankruptcy court.

The Supreme Court of India on Friday cleared the path for steelmaker ArcelorMittal SA to take over bankrupt Essar Steel, and the judgment comes as a big reprieve for banks which are struggling with bad loans worth $140 billion.

With regard to curbs on Punjab & Maharashtra Co-operative Bank (PMC Bank) by the RBI, the minister said the central bank has its own role in the country and it does its job well.

The Enforcement Directorate (ED) had recently conducted searches at about a dozen premises of Naresh Goyal and his associates in New Delhi and Mumbai.

A two-member principal bench, headed by President Justice M M Kumar, admitted a plea filed by five flat buyers who had booked homes in the company’s Lotus Zing project in Noida, Uttar Pradesh.

In a Facebook post on 1 July this year on the completion of two years of GST, Jaitley described obstacles to India’s biggest tax reform since independence.

They said the searches are being carried out under the provisions of the Foreign Exchange Management Act (FEMA) and are aimed at gathering additional evidence.

The general sense of gloom in business needs to change before we can expect economic growth.

Minutes after the Lower House cleared the Triple Talaq bill, parliamentary affairs minister Pralhad Joshi placed the proposal of extension which was immediately accepted.

The eight amendments to the Insolvency and Bankruptcy Code (IBC) will also aid decision-making in the case of bankrupt entities such as property developers, which have a large number of creditors, including homebuyers.

Nirmala Sitharaman, in her reply on Budget in the Upper House, hit out at P. Chidamabaram by saying that he had not made like-to-like comparison over income tax and custom duty collections, which perhaps led him to wrong conclusions.

The bench of justices AM Khanwilkar and Dinesh Maheshwari made the remark while hearing a petition filed by homebuyers who invested in projects by Jaypee Infratech Limited (JIL) but suggested a mechanism could be worked out to help cases involving other realtors as well.

Unveiling Budget 2019-20, Nirmala Sitharaman said non-performing assets of PSBs have come down by Rs 1 lakh crore.

In India’s boom years ahead of the 2008-09 economic crisis, it was investment, albeit private, that powered growth. With the export market under significant squeeze today compared to what it was before the crisis, one important driver for private investment is missing

The key takeaway from the verdict is that governance is here to stay, and identity politics is on its last legs

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