Banking Regulation (Amendment) Act, 2020
October 29, 2020 INSOL India - Editorial Team
On September 29, 2020, the Banking Regulation (Amendment) Act, 2020 (“BR Amendment Act”) has been enacted with a view to extend certain provisions of the Banking Regulation Act, 1949 (“BR Act”). By virtue of the BR Amendment Act, certain provisions..
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Resolution Framework for Covid-19 Related Stress – Financial Framework
October 29, 2020 INSOL India - Editorial Team
On September 7, 2020, the RBI released financial parameters to be considered by lending institutions while finalizing resolution plans in respect of borrowers eligible under the Resolution Framework for Covid-19 Related Stress (“Resolution Framework”) of August 6, 2020. The parameters..
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Simultaneous Insolvency Proceedings against Corporate Debtors and Personal Guarantors Permissible
October 15, 2020 INSOL India - Editorial Team
Finance Minister, Nirmala Sitaraman, in a response during a debate on the IBC (Second Amendment) Act, 2020 in the Rajya Sabha observed that the law permits for simultaneous resolution and/or insolvency and bankruptcy proceedings against corporate debtors and personal guarantors...
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Liquidation under IBC on the Rise
October 15, 2020 INSOL India - Editorial Team
The IBC was enacted as a landmark legislation to resolve and revive units in the country. It has paved the way for many corporate resolutions and recovery by financial institutions over 45% of their claims. However, recent times have seen..
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Relief on Compound interest by Mehrishi Committee: Loan Moratorium
October 15, 2020 INSOL India - Editorial Team
Recently, in Gajendra Sharma v Union of India, the Supreme Court had directed banks to not label loans as non-performing assets for at least two months. Further, the Supreme Court held that accounts which were not declared as non-performing assets till..
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The IBBI (Use of Caveats, Limitations, and Disclaimers in Valuation Reports) Guidelines 2020
September 1, 2020 INSOL India - Editorial Team
On September 1, 2020, the IBBI notified the IBBI (Use of Caveats, Limitations, and Disclaimers in Valuation Reports) Guidelines 2020 (“Valuation Report Guidelines”). The Valuation Report Guidelines seek to provide guidance to registered valuers with respect to the use of..