Tata Steel’s acquisition of Bhushan Steel- payment of government dues

June 1, 2018

The resolution plan submitted by Tata Steel Limited was approved by the committee of creditors of Bhushan Steel Limited with a majority of 99.8% and was approved by the National Company Law Tribunal on May 15, 2018. TSL has, vide its..

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Cabinet approves ordinance to amend the Insolvency and Bankruptcy Code, 2016

June 1, 2018

The Union Cabinet has approved an ordinance, making further changes to the Insolvency and Bankruptcy Code, 2016 (“IBC”). It is understood that these changes have been proposed on the basis of recommendations by the Insolvency Law Committee (ILC) report issued..

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Supreme Court asks Jaypee to deposit Rs. 1,000 crore to avert liquidation of subsidiary

June 1, 2018

The Supreme Court directed Jaiprakash Associates Ltd (“JAL”) to deposit Rs1,000 crore with its registry by 15 June to avert the liquidation of its subsidiary Jaypee Infratech Ltd and to provide refunds to the homebuyers of Jaypee Infratech Ltd (“JIL”). As..

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Insolvency Professionals Conclave

June 1, 2018

The Insolvency and Bankruptcy Board of India (“IBBI”) held the 2nd Insolvency Professionals Conclave, in Mumbai, on May 26, 2018.The conclave was organized in association with the Indian Institute of Insolvency Professionals of ICAI, the ICSI Institute of Insolvency Professionals..

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The Insolvency and Bankruptcy Board of India (“IBBI”) constitutes a working group on graduate insolvency programme

June 1, 2018

The IBBI has constituted a working group on the ‘Graduate Insolvency Programme’ as envisaged under the IBBI (Insolvency Professionals) Regulations, 2016, to recommend the structure, content and delivery mechanism for such ‘Graduate Insolvency Programme’. Dr M S Sahoo is the..

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Insolvency and Bankruptcy Board of India invites comments from public on the Regulations notified under the Insolvency and Bankruptcy Code, 2016

June 1, 2018

IBBI has invited comments from public, including the stakeholders and the regulators, on the regulations already notified under the Code. The comments can be provided till December 31, 2018 and following the due process, regulations will be amended to the..

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