Insolvency and Bankruptcy Code Current Affairs - 2019

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CEA Krishnamurthy Subramanian appointed part-time member in IBBI

Krishnamurthy Subramanian, Chief Economic Adviser (CEA) and B. Sriram, former managing director (MD) and chief executive officer (CEO) of Industrial Development Bank of India (IDBI Bank) were appointed part-time members of Insolvency and Bankruptcy Board of India (IBBI). K Subramanian, an Indian School of Business (ISB) Hyderabad professor was appointed chief economic adviser for a Read More…

Month:  Categories: Business, Economy & BankingPersons in News

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PMLA prevails over Bankruptcy Act and Insolvency Code: Delhi HC

The Delhi High Court has ruled that Prevention of Money Laundering Act (PMLA) prevails over the Bankruptcy Act and insolvency code when it comes to attachment of properties obtained as ‘proceeds of crime’. The Enforcement Directorate (ED) had challenged the orders of PMLA appellate tribunal on the pleas of various banks. PMLA Tribunal had held that Read More…

Month:  Categories: Constitution & Law

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Supreme Court quashes RBI’s circular Mandating Insolvency Proceedings

The Supreme Court has struck down a February 2018 Reserve Bank of India (RBI) circular which gave lender banks six months to resolve their stressed assets or move under the Insolvency Code against private entities who have defaulted in loans worth over Rs 2000 crore. The RBI had defended the circular by citing public interest Read More…

Month:  Categories: Business, Economy & Banking

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IBBI and SEBI sign pact for Effective Implementation of IBC

Insolvency and Bankruptcy Board of India (IBBI) and Securities and Exchange Board of India (SEBI) have signed a Memorandum of Understanding (MoU) to assist and co-operate with each other for the effective implementation of the Insolvency and Bankruptcy Code. Components of the MoU Sharing of information between the two parties. Sharing of resources available with Read More…

Month:  Categories: Business, Economy & Banking

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NITI Aayog hosts Conference on Future of Indian Banking and role of technology Tomorrow

The think tank Niti Ayog had hosted the conference on Future of Indian Banking and role of technology Tomorrow in association with the Foundation for Economic Growth and Welfare (EGROW Foundation). The conference was inaugurated by Dr Rajiv Kumar, Vice Chairman, NITI Aayog. The speakers in the event included Rajiv Kumar, Secretary, Department of Financial Services, Read More…

Month:  Categories: Business, Economy & Banking

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Two years of insolvency and Bankruptcy Code (IBC)

The Union Finance Minister Arun Jaitley has written a Facebook post titled ‘Two years of insolvency and Bankruptcy Code (IBC)”. In the post, he explains how things have been changed after the IBC was passed by the Parliament. Once the IBC was passed by the government, the government took immediate steps to set up Insolvency Read More…

Month:  Categories: Business, Economy & Banking

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Parliament passes Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018

Parliament has passed Insolvency and Bankruptcy Code (Amendment) Bill, 2018 to bring relief to home buyers and Micro, Small and Medium Enterprises (MSMEs). The Bill replaces ordinance promulgated in this regard and amends  Insolvency and Bankruptcy Code, 2016. Key Features of Bill The Bill recognises home buyers as financial creditors in the real estate project Read More…

Month:  Categories: Constitution & Law

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