BACKGROUND The COVID-19 crisis is unprecedented and we professionals have never in our lifetime seen instances of governments of every major economy shutting businesses, foregoing exports and FDI and effectively closing...
Reconstruction Scheme for YES Bank – Key to Survival of the Indian financial systems
The government finally rescued Yes Bank, the country's biggest-ever banking failure, by asking state-run State Bank of India to infuse Rs 7,250 crore and take 45% stake in the bank. Reserve Bank of India cleared the...
Powerhouse in the making: RIL merges media content and distribution with Network18
In a move to consolidate its media and distribution business spread across multiple entities and reduce the number of listed entities, Reliance Industries Limited (RIL) has announced Scheme of Arrangement (Scheme)...
CORONA CRISIS: DEVELOPMENTS IN INSOLVENCY AND BANKRUPTCY LAWS TO SAVE DEBT-LADEN COMPANIES
INTRODUCTION The changing market dynamics, from crashing stock markets to restaurants, airlines and businesses shutting down, the Coronavirus (“Covid-19”) has hit almost every sector. The pandemic has not only caused...
Reverse corporate insolvency resolution: A panacea in case of real estate sector
The real estate sector in India has unique problems. Earlier, home buyers were not recognized as creditors. So, they had no locus-standi as a creditor till the Insolvency and Bankruptcy Code was amended and they are now...
Ways for Compulsory exit to minority shareholders of unlisted firms
In one of our previous articles, we had covered the provisions in the Companies Act which provide mandatory and voluntary ways exit can be given to minority shareholders of unlisted and listed companies. In this, we...
NCLT clears state-owned NBCC’s bid for Jaypee Infratech
After many years of wait, around 22,000 home buyers of Jaypee Infratech Limited (JIL) in the National Capital region (NCR) got some sigh of relief when state-owned construction company NBCC got the final approval from...