Supreme Court reiterates that Corporate Debtor cannot raise dispute after committee of creditors approve resolution plan
October 31, 2020 INSOL India - Editorial Team
In case of Karad Urban Cooperative Bank Ltd vs Swwapnil Bhingardevay and Others, the court accepted the application u/s 7of the IBC Code. Following the due order of NCLT and the procedure prescribed under IBC Code, the Committee of Creditors..
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Companies (Amendment) Act, 2020
October 29, 2020 INSOL India - Editorial Team
The Companies (Amendment) Act 2020 was notified on September 28, 2020. Some of the key changes under the amendment include: The amendment makes a host of changes to penal provisions. Importantly, it omits imprisonment for certain offences, such as the contravention..
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Securities and Exchange Board of India
October 29, 2020 INSOL India - Editorial Team
SEBI, vide its notification dated September 16, 2020 and in exercise of powers conferred under section 11(1) of the SEBI Act, 1992, has permitted listing and trading of units of Infrastructure Investment Trusts (“InvITs”) and Real Estate Investment Trusts (“REITs”)..
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SEBI Circular for signing of inter-creditor agreement
October 29, 2020 INSOL India - Editorial Team
The resolution process stipulated under the RBI Prudential Framework for Resolution of Stressed Assets (“Prudential Framework”) dated June 7, 2019 requires the signing of an inter-creditor agreement (“ICA”). In furtherance of the same, lenders often approach investors of debt securities,..
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Relaxation from default recognition due to restructuring of debt
October 29, 2020 INSOL India - Editorial Team
Vide a circular dated August 31, 2020, the SEBI has extended the relaxation from default recognition by credit rating agencies due to restructuring of debt. The circular is in furtherance of the SEBI circular dated March 30, 2020 whereby the..
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Bilateral Netting of Qualified Financial Contracts Act, 2020
October 29, 2020 INSOL India - Editorial Team
The Bilateral Netting of Qualified Financial Contracts Act 2020 (“Netting Act”) has been enacted on September 28, 2020 with a view to facilitate financial stability by providing enforceability of bilateral netting of financial contracts. Bilateral netting allows the offsetting of..