3 October 2022


Search Results for Tag : Debt

Notifications & Circulars

Debt recovery mechanism strengthened with the enactment of Insolvency and Bankruptcy Code (IBC), 2016 - Survey(04.07.2019)

The Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman tabled the Economic Survey 2018-19 in Parliament today. Taking note of t.....

Tags : Debt recovery, Mechanism, Strengthening of

read»



Facility of “Basic Services Demat Account" (BSDA) with limited services introduced(10.04.2019)

1. SEBI vide circulars CIR/MRD/DP/22/2012 dated August 27, 2012 and CIR/MRD/DP/20/2015 dated December 11, 2015, introduced the facility of "Basic Serv.....

Tags : BSDA limit, Debt Securities, Introduction

read»



Judgments

Lease of Immoveable Property cannot be considered as supply of goods or rendering a service, and cannot fall under the definition of ‘Operational Debt’(17.01.2020)

In the present case, the Appellant was the Corporate Debtor of the Respondents/ Petitioners, Lessors of industrial Premises. That tenancy of the Appel.....

Tags : Operational Debt, Immovable Property

read»



If the delay in possession is due to Force Majeure, it cannot be claimed that the Corporate Debtor defaulted in delivering the possession.(22.01.2020)

The Respondents, in the present case, had booked an apartment in a residential project. The Corporate debtor had issued a joint allotment letter and e.....

Tags : Corporate Debtor, Possession

read»



Top Story

Centre notifies Regulations for Insolvency Resolution and Bankruptcy Proceedings of Personal Guarantors to Corporate Debtors(20.11.2019)

The Insolvency and Bankruptcy Board of India (IBBI) notifies Regulations for Insolvency Resolution and Bankruptcy Proceedings of Personal Guarantors t.....

Tags : New Rules, Insolvency Resolution, Corporate debtors

read»



Debt Recovery Tribunal has no power to condone delay in filing Review Application under RDB Act(21.01.2020)

In the present case, the Respondent had filed a review petition before the Debt Recovery Tribunal with the application for condonation of delay which .....

Tags : Delay, Debt Recovery Tribunal

read»



In case of default, Financial creditor either by itself or jointly with other financial creditor could file application for initiating CIRP against Corporate Debtor(07.11.2017)

The 'Financial Creditor'-Central Bank of India has filed the instant application under Section 7 of the Insolvency and Bankruptcy Code, 2016 ('the Cod.....

Tags : Financial debt, CIRP, Appointment

read»



Interest alone cannot be construed as operational debt(11.02.2020)

Present appeal emanates from the order passed by the Adjudicating Authority on the application filed under Section 9 of the Insolvency and Bankruptcy .....

Tags : Delayed payment, Interest, Operational Debt

read»



International Cases

Production of notice of assessment is conclusive evidence that the assessment is properly made(07.08.2020)

An application is made by the Plaintiff, the Deputy Commissioner of Taxation, for judgment to be entered against the defendant pursuant to the Rules o.....

Tags : Debt dues, Payment, Recovery

read»



Collusive or sham transactions with a corporate debtor will not amount to "financial debt" within the meaning of the Insolvency and Bankruptcy Code 2016(IBC)(01.02.2021)

CIRP has been initiated against the Corporate Debtor on an application filed by an Operational Creditor under section 9 of Insolvency and Bankruptcy C.....

Tags : Financial Debt, Collusive or sham transactions

read»



A statutory provision does not alter the common law unless it says so explicitly or by necessary implication(03.12.2020)

The first Respondent, Jeany Industrial Holdings (Pty) Ltd, the second Respondent, Ian Laverne Donjeany and the third Respondent, Lee Spencer Donjeany,.....

Tags : Surety, Right, Debt

read»



A statutory provision does not alter the common law unless it says so explicitly or by necessary implication(03.12.2020)

The first Respondent, Jeany Industrial Holdings (Pty) Ltd, the second Respondent, Ian Laverne Donjeany and the third Respondent, Lee Spencer Donjeany,.....

Tags : Surety, Right, Debt

read»



Statute of limitation extinguishes recourse to the remedy and not the debt(16.11.2021)

The Petitioner has filed the present petition under Section 34 of the Arbitration and Conciliation Act, 1996 ('A&C Act') challenging the Arbitral Awar.....

Tags : Debt, Limitation, Extension

read»



Pawnor, if not otherwise liable for the debt as a borrower or as a guarantor, does not merely from the act of pledging, become liable to pawnee, for anything more than the value of goods pledged(20.07.2021)

The legal question arising for consideration, in present writ petition under Article 226 of the Constitution of India, is, whether by virtue of Sectio.....

Tags : Debt, Payment, Liability

read»



Investment by Foreign Portfolio Investors (FPIs) in Debt(08.11.2021)

1. Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Schedule 1 to the Foreign Exchange Management (Debt Instruments) Regu.....

Tags : Investment, FPIs, Debt

read»



Offence under Section 138 of Negotiable Instruments Act will get attracted, if the debt is legally enforceable(20.06.2022)

The revision Petitioner is the accused on the file of the Judicial Magistrate, in a private complaint initiated under Section 138 of Negotiable Instru.....

Tags : Financial capacity, Debt, Proof

read»



Proceedings under the SARFAESI Act cannot be continued against corporate debtor, once the CIRP is initiated and the moratorium is ordered(18.05.2022)

Present appeal challenges the judgment passed by the National Company Law Appellate Tribunal, Principal Bench, New Delhi ( “the NCLAT”), thereby dismi.....

Tags : Sale, Assets, Corporate Debtor

read»



Electronic book mechanism for issuance of debt securities on private placement basis(21.04.2016)

The Securities and Exchange Board of India lay a framework for issuance of debt securities on private placement basis through electronic book mechanis.....

Tags : electronic book, debt securities, private placement

read»



Statute

Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Bill, 2016(13.06.2016)

The Enforcement of Security Interest and Recovery of Debt Laws a.....

Tags : sarfaesi, debt act, central registry, asset reconstruction

read»



News

SC: Proceedings Against Corporate Debtor Would End Once Resolution Plan is Approved(01.02.2021)

Supreme Court has clarified that proceedings against a corporate debtor over money-laundering charges would end once a resolution plan is approved, bu.....

Tags : Supreme Court, Proceedings Against Corporate Debtor

read»



NCLT Can't Decide Inter-Se Claims by Parties Over Assets of Corporate Debtor: NCLAT(05.02.2019)

National Company Law Appellate Tribunal has held that inter-se claims by parties over assets of the corporate debtor cannot be determined by the Adjud.....

Tags : NCLAT, Inter-Se Claims by Parties Over Assets of Corporate Debtor

read»



Debts Recovery Tribunal (Procedure) Amendment Rules, 2020(27.08.2020)

1.In exercise of the powers conferred by sub-sections (1) and (2) of section 36 of the Recovery of Debts and Bankruptcy Act, 1993 (51 of 1993), the Ce.....

Tags : Debts Recovery Tribunal, Procedure, Amendment Rules

read»



SC: DRAT Cannot Entertain Appeal u/s 18 SARFAESI Act Without Insisting on Pre- Deposit(03.03.2020)

Supreme Court has observed that the Debt Recovery Appellate Tribunal cannot entertain an appeal under Section 18 of the Securitisation and Reconstruct.....

Tags : Supreme Court, Appeal before Debt Recovery Appellate Tribunal

read»



CIVIL - Auction Sale can't be Held 3 Years After End of FY in which Recovery Certificate was Issued: Kerala H(22.02.2019)

Kerala High Court has set aside an auction sale held for recovery of arrears due to a bank on ground that it was done beyond the period of three years.....

Tags : Kerela High Court, Auction Sale, Debt Recovery Tribunal

read»



NCLAT: Insolvency Cannot be Initiated on Basis of Unpaid LTC And Leave Encashment Dues(16.05.2022)

National Company Law Appellate Tribunal, has ruled that the welfare claims such as Leave Encashment, superannuation dues are not operational debt for .....

Tags : National Company Law Appellate Tribunal, Leave Encashment, Corporate Debtor, Section 9, Insolvency & Bankruptcy Code, 2016, superannuation dues

read»



CBDT endeavours to reduce litigation over bad debt(30.05.2016)

The Central Board of Direct Taxes bolstered Departmental policies to reduce litigation arising from assessees writing off sums as ‘bad debt’.

.....

Tags : income tax, bad debt, irrecoverable, reducing litigation

read»



Secured Creditor can File Winding Up Petition After Obtaining Recovery Certificate from DRT: SC(30.01.2019)

Supreme Court has held that a secured creditor can file a winding up petition after obtaining a decree from the Debts Recovery Tribunal (DRT) and a re.....

Tags : Supreme Court, Debt Recovery Tribunal

read»



SC: Corporate Debtor Only Offering Security by Pledging Shares Not a Financial Creditor(04.02.2021)

Supreme Court has held that if a corporate debtor has only offered security by pledging shares, without undertaking to discharge the borrower's liabil.....

Tags : Supreme Court, Corporate Debtor

read»



INSOLVENCY - 51% COC Vote Enough for Forensic Audit of Corporate Debtor: NCLT(08.03.2019)

National Company Law Tribunal (NCLT) has clarified that 51 per cent vote of the Committee of Creditors (CoC) is enough to initiate a forensic audit of.....

Tags : NCLT, Forensic Audit, Corporate Debtor

read»



NCLT, Kolkata: Corporate Debtor Cannot Be Sent Into Liquidation(08.04.2022)

National Company Law Tribunal, Kolkata has observed that just because the liquidation value is being projected higher than the value of the resolutio.....

Tags : National Company Law Tribunal, liquidation value, resolution plan, Corporate Debtor, liquidation

read»



Bengaluru DRT Orders Banks to Start Recovering Loan From Vijay Mallya in Kingfisher Case(20.01.2017)

Debt Recovery Tribunal has ordered SBI-led consortium of banks to start process of recovering over Rs 6,203 crore, at 11.5 per cent annual interest ra.....

Tags : Debt Recovery Tribunal, Vijay Mallya, Kingfisher Case, Loan

read»



Bombay High Court Questions Non-Working of Mumbai Debt Recovery Tribunal(24.07.2018)

Bombay High Court has questioned the shutdown of Debt Recovery Tribunal (DRT) following a fire in the said building premises over a month ago and expr.....

Tags : Bombay High Court, Debt Recovery Tribunal

read»



Delhi HC Stays DRAT Order Imposing Restrictions on Filing of Securatisation Application(11.04.2017)

Delhi High Court has stayed order of Debts Recovery Appellate Tribunal, wherein DRAT had held that a Securitization Application under Section 17 of SA.....

Tags : Delhi High Court, Debts Recovery Appellate Tribunal

read»



CIVIL - Auction Sale can't be Held 3 Yrs After End of FY in which Recovery Certificate was Issued: Kerala HC(22.02.2019)

Kerala High Court has set aside an auction sale held for recovery of arrears due to a bank on ground that it was done beyond the period of three years.....

Tags : Kerela High Court, Auction Sale, Debt Recovery Tribunal

read»



Delhi HC Asks Centre on Incorporating Provisions in Statute for Judgment Debtor’s Financial Capacity(07.08.2020)

Delhi High Court has asked the Central Government to take into consideration, stating that the mandatory filing of the affidavit of assets, income, ex.....

Tags : Delhi High Court, Judgment Debtor’s Financial Capacity

read»



Solve Issues of Companies Under Debt: NCLAT(29.04.2019)

National Company Law Appellate Tribunal has stated that functional companies boost the economy and are a source of income for families and also called.....

Tags : NCLAT, Companies Under Debt

read»



COMPANY - Statutory Dues of Companies are Operational Debt: NCLAT(22.03.2019)

National Company Law Appellate Tribunal (NCLAT) has held that statutory liability, including income tax and value added tax dues, of debt-ridden compa.....

Tags : NCLAT, Statutory Dues of Companies, Operational Debt

read»



NCLT, Mumbai: Advance Amount Received by Property Owner is Operational Debt(18.01.2021)

National Company Law Tribunal (NCLT), Mumbai has ruled that the advance amount received by a property owner from the real-estate developer for a re-de.....

Tags : National Company Law Tribunal, Operational Debt

read»



Madras HC: No Deduction Can be Claimed if Bad Debt Not Written Off(10.12.2020)

Madras High Court has held that the deduction cannot be claimed on the bad debt which was not written off as required by law as per the provisions of .....

Tags : Madras High Court, Writing Off of Bad Debts

read»



NCLT: Salary During Notice Period Does Not Fall Within the Definition of 'Operational Debt' Under IBC(26.05.2022)

National Company Law Tribunal, Mumbai Bench has held that salary for purported notice period amounts to specific performance of the appointment letter.....

Tags : National Company Law Tribunal, Operational Debt, Operational Creditor

read»



Employee of company has same locus standi as creditor(24.08.2015)

A three-judge bench of the Madhya Pradesh High Court answered the question, whether an employee of a company qualifies as a creditor of the company, i.....

Tags : Employee, creditor, company, debt

read»



Standardisation of procedure to be followed by Debenture Trustee(s) in case of 'Default' by Issuers of listed debt securities(13.10.2020)

1. Representations were made by Debenture Trustee(s) regarding the process to be followed in case of 'Default' by issuers of listed debt securities. A.....

Tags : Standardisation, Procedure, Debt securities

read»



Security cheques to be proved as given in discharge of legally enforceable debt(15.09.2015)

In a case involving arrest of the accused for dishonoured cheques, the Court allowed the accused’s petition. It noted the peculiar facts of the case a.....

Tags : Security, cheque, presumption, enforceable debt

read»



Review of norms regarding investment in debt instruments with special features and the valuation of perpetual bonds(10.03.2021)

A. Review of Norms of Investment in Instruments having Special Features

1. Mutual Funds invest in certain debt instruments with special featu.....

Tags : Review, Norms, Investment, Debt instruments

read»



Debt Recovery Tribunal asks Vikram Bakshi, McDonald's India to Deposit Settlement Funds(20.05.2019)

Debt Recovery Tribunal, Delhi has asked Connaught Plaza Restaurants’ Managing Director Vikram Bakshi and McDonald’s India to appear before it and depo.....

Tags : Debt Recovery Tribunal, McDonalds

read»



The acknowledgment in the form of letters/OTS/Settlement terms made by 'Corporate Debtor' before expiry of period of limitation results in a fresh period of limitation(22.05.2020)

The limited question involved in present appeal is whether the application under Section 7 of the Insolvency and Bankruptcy Code, 2016 ("I&B Code") fi.....

Tags : Debt, Application, Maintainability

read»



SC: Debts Recovery Tribunal Has No Power to Condone Delay in Filing Review Application(27.01.2020)

Supreme Court has held that the Debts Recovery Tribunal has no power to condone the delay in filing application for review under the Recovery of Debts.....

Tags : Supreme Court, Debt Recovery Tribunal's Power to Condone Delay, Review Application

read»



SC: Moratorium Does Not Apply to Proceedings in Respect of Directors/Management of Corporate Debtor(17.09.2021)

Supreme Court has observed that the moratorium ordered under Section 14 of the Insolvency and Bankruptcy Code, 2016 does not apply in respect of the d.....

Tags : Supreme Court, Proceedings in Respect of Directors/Management of Corporate Debtor

read»



Central Government notifies a debt raised from the Special Window for Affordable and Middle-Income Housing Investment Fund(19.03.2020)

In exercise of the powers conferred by clause (15) of section 5 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereb.....

Tags : Investment fund, Debt, Special Window

read»



RBI Tightens Provisions for Yet to Fail CDR Accounts(12.01.2016)

Reserve Bank of India (RBI) has asked lenders to increase provisioning for accounts that may not have yet failed Corporate Debt Restructuring (CDR) bu.....

Tags : Reserve Bank of India, Corporate Debt Restructuring

read»



Central Government notifies the infrastructure debt fund namely, the Kotak Infrastructure Debt Fund Limited(31.03.2022)

In exercise of the powers conferred by clause (47) of section 10 of Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the infr.....

Tags : Infrastructure debt, Fund, Notification

read»



Allahabad High Court Disallows Parallel Proceedings in NCLT and DRT(12.09.2017)

Allahabad High Court has barred parallel proceedings in National Company Law Tribunal (NCLT) and the Debt Recovery Tribunal (DRT) in a case between St.....

Tags : Allahabad High Court, National Company Law Tribunal, Debt Recovery Tribunal

read»



NCLAT, New Delhi: Interest Alone Cannot Be Construed as Operational Debt(13.02.2020)

National Company Law Appellate Tribunal (NCLAT), New Delhi has held that claim amount towards Interest on loan alone, cannot be termed as an ‘Operatio.....

Tags : National Company Law Appellate Tribunal, Operational Debt

read»



Debts Recovery Tribunals and Debts Recovery Appellate Tribunals Electronic Filing (Amendment) Rules, 2021(22.07.2021)

In exercise of the powers conferred by clause (ccd) of sub-section(2) of section 36 of the Recovery of Debts and Bankruptcy Act, 1993 (51 of 1993), th.....

Tags : Debts Recovery, Tribunals, Rules

read»



RBI Revises SDR Norms(26.02.2016)

Reserve Bank of India (RBI) has asked banks going in for Strategic Debt Restructuring (SDR) scheme to make sufficient provisions to the tune of 15 per.....

Tags : Reserve Bank of India , Strategic Debt Restructuring

read»



Govt. Amends FEMA to Enable the Increase in FDI Limit in Insurance Sector(24.08.2021)

Government has notified the amendment in the Foreign Exchange Management (non-debt instruments) Rules, 2019 (FEMA) to enable the increase in foreign d.....

Tags : Government, Foreign Exchange Management (non-debt instruments) Rules, 2019

read»



Assignment is a transaction independent of sale of secured asset(04.08.2015)

The assignment of debt by a secured creditor is an independent transaction, which does not affect either the liability or the rights of the borrower. .....

Tags : security, assignment, secured creditor, transfer of debt

read»



#Economic Survey 2021-2022: Trend in Centre's Debt-GDP Ratio(31.01.2022)

Total liabilities of the Central Government, as a ratio of GDP, has risen sharply in 2020-21, due to COVID-19 pandemic as well as sharp contraction in.....

Tags : Economic Survey, Debt-GDP Ratio

read»



Supreme Court: S. 21A of Banking Regulation Act Not Applicable to Agricultural Debts(19.02.2018)

Supreme Court has held that S. 21A of Banking Regulation Act, 1949 which prohibits courts from re-opening any transaction between a bank and its debto.....

Tags : Supreme Court, Agricultural Debts

read»



Kerala HC: If Judgment Debtor Has No Means to Pay Off Debt, Court Bound to Inquire Before Warrant(27.01.2022)

Kerala High Court has held that if a judgment debtor appears before the Court when served with a notice and contends that he has no means to pay off t.....

Tags : Kerala High Court, Means to Pay Off Debt

read»



Additional disclosures by NBFCs in public issue of debt securities(15.09.2015)

The Securities Exchange Board of India notified new disclosures to be made by Non-Banking Financial Corporations in offer documents for public issue o.....

Tags : Disclosure, nbfc, public offer, debt

read»



'Voluntary Retention Route' for Foreign Portfolio Investors investment in debt(10.02.2022)

1. Please refer to paragraph 3 of the Statement on Developmental and Regulatory Policies dated February 10, 2022 regarding enhancement of the investme.....

Tags : Voluntary Retention Route, Investment, Debt

read»



Karnataka HC Put Stay on DRT’s Order for 3 Months Issuing Demand Notice to UBHL , Kingfisher Airlines(20.06.2016)

Karnataka HC has put stay for three months on Debt Recovery Tribunal's (DRT) order issuing a demand notice to Vijay Mallya-owned United Breweries Hold.....

Tags : Karnataka HC, Debt Recovery Tribunal, United Breweries Holdings Limited (UBHL) , Kingfisher Airlines

read»



Bombay High Court Directs Finance Ministry to Provide Proper Infrastructure for DRT/DRAT(21.08.2015)

Bombay High Court has directed Finance Ministry to consider providing proper infrastructure and space to Debt Recovery Tribunal (DRT) and Debt Recover.....

Tags : Bombay High Court,Debt Recovery Tribunal (DRT) , Debt Recovery Appellate Tribunal (DRAT)

read»



Delhi HC Grants Time to Frame Rules to Deal with High Value Cases In Debt Recovery Tribunals(25.11.2021)

Delhi High Court has granted six weeks time to the Central Government for coming up with the Rules to deal with high value cases, where the recovery i.....

Tags : Delhi High Court, High Value Cases In Debt Recovery Tribunals

read»



Rajya Sabha Passes a Bill to Expedite Disposal of Debt Recovery Applications(10.08.2016)

Rajya Sabha has passed the Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Bill, 2016, which amen.....

Tags : Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Bill, 2016, Rajya Sabha

read»



Delhi HC Issues Notice on Plea by Decree Holder Seeking Attachment of Assets of Judgment Debtor(25.08.2021)

Delhi High Court has issued notice on a plea by a decree holder (KLA Const. Technologies) seeking attachment of moveable and immovable assets of the j.....

Tags : Delhi High Court, Attachment of Assets of Judgment Debtor

read»



DRT has no jurisdiction to hear un-appointed debenture trustee(07.03.2016)

In a claim for recovery made by a debenture trustee of debentures of a company on behalf of or for the benefit of the debenture holders, the Debt Reco.....

Tags : Debenture trustee, tribunal, debt recovery

read»



Disclosure Requirements for Issuance and Listing of Green Debt Securities(30.05.2017)

Disclosure Requirements for Issuance and Listing of Green Debt Securities

1. SEBI (Issue and Listing of Debt Securities) Regulations.....

Tags : Securities, Green debt, Requirement

read»



Supreme Court Seeks List of Loan Defaulters from Central Govt.(04.01.2017)

Supreme Court has asked Centre to give list of "corporate entities" against whom outstanding loans were in excess of Rs 500 crore, besides seeking emp.....

Tags : Supreme Court, Debt Recovery Tribunals, Bad Loans

read»



Govt. Fixes Debt to Capital, Free Reserve Ratio for Govt. Companies(25.03.2016)

Ministry of Corporate Affairs has notified the debt to capital and free reserves ratio for government companies that are into housing finance.

Tags : Ministry of Corporate Affairs, Debt to Capital, Free Reserve Ratio

read»



Corporate Debtor can Withdraw Application Filed Under IBC on Making OTS Offer to Creditor : NCLT(28.01.2019)

NCLT has allowed the a corporate debtor to withdraw petition for its insolvency, though with costs, besides allowing ex-director of corporate debtor t.....

Tags : NCLT, Corporate Debtor can Withdraw Application Filed Under IBC

read»



Telangana High Court has Stayed Debt Recovery Tribunal’s Order Against Karvy Stock Broking(02.01.2020)

Telangana High Court has given interim relief to Karvy Stock Broking against ICICI Bank’s plea for initiating debt recovery proceedings against the br.....

Tags : Telangana High Court, Debt Recovery Tribunal

read»



Review of framework for public issuance of Convertible Securities(01.12.2015)

The Securities and Exchange Board of India has released a discussion paper reviewing the framework for public issuance of convertible securities. The .....

Tags : Convertible securities, review, debt, term

read»



Write-off of debt securities held by FPIs who intend to surrender their registration(08.11.2021)

1. SEBI, vide circular number IMD/FPI&C/CIR/P/2019/124 dated November 05, 2019, read with circular number SEBI/HO/IMD/FPI&C/CIR/P/2020/177 dated Septe.....

Tags : Write-off, Debt securities, FPIs

read»



SC: Person Having Security Interest Over Property of Corporate Debtor Not 'Financial Creditor'(27.02.2020)

Supreme Court has upheld the order of National Company Law Tribunal which cancelled the mortgages made by Jaypee Infratech Ltd to secure the debts of .....

Tags : Supreme Court, Mortgage by Corporate Debtor to Secure Debts

read»



Delhi HC Directs IT Department to Consider Representation of Debtor(06.05.2020)

Delhi High Court has directed the Income Tax Department to consider the representation of a debtor whose pension account has been attached by the Depa.....

Tags : Delhi High Court, Representation of Debtor

read»



Delhi HC Seeks Response on Plea Challenging Provisions of Recovery of Debts and Bankruptcy Act, 1993(13.09.2021)

Delhi High Court has sought response of the Centre on a plea challenging provisions of Recovery of Debts and Bankruptcy Act, 1993 regarding appointmen.....

Tags : Delhi High Court, Provisions of Recovery of Debts and Bankruptcy Act, 1993

read»



Relaxation from default recognition due to restructuring of debt(31.08.2020)

1. CRAs recognize default based on the guidance issued vide SEBI circulars dated May 3, 2010 and November 1, 2016. Further, SEBI vide circular dated M.....

Tags : Relaxation, Default recognition, Restructuring of debt

read»



Determination of specified instruments as debt instruments(16.10.2019)

In exercise of the powers conferred by sub-section (7) of section 6 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Central Government .....

Tags : Determination, Debt instruments, Non-debt instruments

read»



SC: Mere Act of Invoking Pledged Shares Does Not Discharge Debt(17.05.2022)

Supreme Court has ruled that a creditor's mere invocation of a pledge does not imply that the debt is discharged. The Apex Court ruled that “A debt is.....

Tags : Supreme Court, pledge, debt

read»



Bombay High Court Pulls Up Ministry for Failure to Provide Infra For Debt Recovery Tribunals(14.02.2020)

Bombay High Court has come down heavily upon the central Government for failing to provide adequate infrastructure and manpower to the Debt Recovery T.....

Tags : Bombay High Court, Infrastructure for Debt Recovery Tribunals

read»



RBI looking into permitting FPI involvement in unlisted debt securities(16.05.2016)

The Reserve Bank of India released a draft cir.....

Tags : draft circular, fpi, unlisted debt

read»



Delhi HC Refuses to Entertain PIL on Recovery of Debt Owed by Pakistan Since Partition(22.03.2022)

Delhi High Court has refused to entertain a public interest litigation seeking recovery of Rs 1 trillion debt owed by Pakistan to India since the time.....

Tags : Delhi High Court, Recovery of Debt Owed by Pakistan

read»



DRT Rejects Kingfisher’s Plea(11.07.2016)

Debt Recovery Tribunal (DRT), Bengaluru, has rejected interlocutory application filed by Kingfisher Airlines seeking permission to make amendment to i.....

Tags : Debt Recovery Tribunal , Kingfisher Airlines

read»



Supreme Court Asks Centre to Buckle Up Mechanism to Recover Bad Loans(03.01.2017)

Supreme Court has sought more clarity from Centre on the issue of tackling bad loans.

Tags : Supreme Court , Bad Loans , Debt Recovery

read»



Investment by Foreign Portfolio Investors (FPI) in Debt – Review(25.04.2019)

Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Schedule 5 to the Foreign Exchange Management (Transfer or Issue of Secu.....

Tags : Investment, FPI, Debt, Review

read»



Lok Sabha Passes Bill Seeking Expeditious Recovery of Bad Loans by Banks(02.08.2016)

Lok Sabha has passed the Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Bill, 2016, which provid.....

Tags : Lok Sabha, Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Bill, 2016

read»



Bombay HC Upholds Centre’s Move to Shift DRT From Mumbai to Vashi(03.01.2017)

Bombay High Court has upheld Centre’s decision to shift one of the Debt Recovery Tribunals (DRT) from Mumbai to a new site at Vashi, stating it did no.....

Tags : Bombay High Court, Debt Recovery Tribunals

read»



President Gives Assent to Recovery Laws(19.08.2016)

President has given assent to the Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act, 2016.

Tags : President, Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act, 2016

read»



Delhi HC Allows Interim Reoccupation to Debtor of Property Securitized by Bank(13.04.2020)

Delhi High Court has allowed a family to reoccupy a floor of the property, which was securitized by IIFL Home Finance Limited under Section 14 of Secu.....

Tags : Delhi High Court, Reoccupation to Debtor of Property Securitized by Bank

read»



NCLAT: Claims of Homebuyers Reflected in Corporate Debtor Records Must be Shown in Information Memo(03.06.2022)

National Company Law Appellate Tribunal (NCLAT) Principal bench has held that the claims of those homebuyers who could not file their claims within st.....

Tags : NCLAT, Homebuyers, Corporate Debtor

read»



Supreme Court Seeks Action Plan on Recovery of Bad Loans(21.11.2016)

Supreme Court has said that disclosure of names of debtors, who owe Rs 500 crore or more to banks, will not lead "anywhere" as the important issue is .....

Tags : Supreme Court, Non-Performing Assets, disclosure, debtors

read»



Karnataka HC Summons Vijay Mallya to Appear on 24 November(21.10.2016)

Karnataka High Court has summoned Vijay Mallya to appear before it on 24 November for allegedly violating an “oral undertaking” given before Bengaluru.....

Tags : Karnataka High Court, Vijay Mallya, Debt Recovery Tribunal

read»



Delhi HC: Executing Court Can't Go Behind Decree & Give Relief to Judgment Debtor(02.05.2022)

Delhi High Court has reiterated that the executing Court can’t go behind the decree that is to be implemented and give relief to the judgment debtor t.....

Tags : Delhi High Court, Executing Court, Judgment debtor

read»



Calcutta HC: Order U/S 36 of A&C Act is Interim Order, Can be Modified on Basis of Financial Hardship(10.05.2022)

Calcutta High Court has held that financial hardship and financial indebtedness are sufficient grounds to modify an order passed under Section 36 of t.....

Tags : Calcutta High Court, Arbitration and Conciliation Act, 1996, Section 36, financial hardship, financial indebtedness

read»



Telangana HC: Scrutiny By IT Department Barred For The Period Covered By The Resolution Plan(28.01.2022)

Telangana High Court has observed that for the period covered by the Resolution Plan, Income Tax Department cannot carry out any scrutiny or assessmen.....

Tags : Income Tax Act, Insolvency and Bankruptcy Code, Corporate Debtor, Financial Creditor

read»



EBM for issuance of debt securities on private placement basis mandated(30.06.2016)

The Securities and Exchange Board of India mandated issuers of debt securities and market participants to make the offer for issue of debt securities .....

Tags : debt security, private placement, electronic book mechanism

read»