The CBDT last month sent letters to principal chief commissioners of income tax, asking them to “identify the start-up cases pertaining to them and to ensure that no coercive action is taken in these cases”.
The amalgamation will be a part of the government’s efforts to create a few strong banks with much larger balance sheets to support the rising credit appetite of the economy and enable optimum utilisation of resources.
The increasing application of the IBC marks a clear shift in the balance of power in favour of creditors, instead of defaulters. The fact that Essar Steel promoters now want to clear all dues to retain control is a testimony
From using the old tricks of capitalising even sinking public-sector banks (PSBs) to bringing in new reforms like the Insolvency and Bankruptcy Code (IBC) to facilitate an early detection and time-bound resolution of stressed
India’s FDI policy has introduced a rather odd distinction between multi-brand and single-brand retailing; now, the policymakers are singling out the biggies in single-brand retailing from the rest of the pack.
Recently, Liberty House missed the deadline to meet its commitment and to take over Amtek Auto, prompting banks to approach the National Company Appellate Law Tribunal (NCLAT) for action against the winning bidder.