By: ENS Economic Bureau | New Delhi | Published:June 17, 2017 3:03 am The Insolvency and Bankruptcy Board of India (IBBI) has notified provisions to expedite the resolution process of default cases of small companies and start-ups within 90 days, according to an official statement. Currently, the Insolvency and Bankruptcy Code (IBC), under which the…
DetailsBy Richard Read and Teddy Nykiel, NerdWallet Updated 8:43 pm, Friday, June 16, 2017 … Read the full article at: http://www.mysanantonio.com/business/national/article/Feds-point-fingers-as-debt-relief-companies-11226767.php
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DetailsCurrently, at least 81 corporate insolvency resolution processes are going on under the IBC. Corporate Persons Regulations, 2017, also states that the adjudicating authority may, if satisfied, extend the period of 90 days by 45 days for the completion of the resolution process. But the Reserve Bank of Indias selection this week of 12 accounts…
DetailsA man was abducted on a Boston street and taken to Queens over a gambling debt but he was able to escape through a bathroom window before the goons could cut off his fingers, law enforcement sources told The Post on Friday. The 27-year-old victim told his captors he had to use the john before…
DetailsWhen your personal finances teeter on the brink, your first instinct might be to do something drastic. Freeze your credit cards in a block of ice. Vow to never eat out again. Forgo your Netflix subscription. These tactics may help, but financial experts say paying off debt requires a more comprehensive plan. One common strategy…
DetailsReuters (Adds detail) By Francesco CanepaFRANKFURT, June 16 (Reuters) – The European Central Bank needs more clarity on what kind of debt relief Greece will get from its international creditors if it is to buy Greek government bonds as part of its monetary stimulus programme, a source close to the matter said. Euro…
DetailsA terrified Boston restaurant worker flagged down cops Thursday morning in Queens and told them he had been kidnapped over a $50,000 gambling debt by men who threatened to chop off his fingers, sources said. The 27-year-old man said he escaped their clutches by leaping out of a second-story window in Flushing…
DetailsThe National Company Law Tribunal (NCLT) has admitted 110 cases for corporate insolvency resolution, Insolvency and Bankrupcy Board of India’s Chairperson M.S. Sahoo said on Friday. The default amount ranges from a few lakhs of rupees to Rs 6,000 crore, he said on the sidelines of an event organised here by the Merchants’ Chamber…
DetailsEssar Steel, Bhushan Steel, ABG Shipyard, Electrosteel and Alok Industries are among the 12 borrowers referred by the RBI for insolvency proceedings, a senior public sector banker said today. Banks will move for insolvency proceedings in these 12 cases after due process defined under the Insolvency and Bankruptcy Code (IBC), the banker added. When reached…
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