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SC refuses relief to personal guarantors under bankruptcy code | Mint
The verdict relates to a clutch of petitions that challenged the Constitutional validity of parts of the IBC that pertain to personal guarantors. The petitioners' main contention was that the personal guarantor is not given a chance to argue his position, contest the start of the insolvency resolution proceedings.
Summer storms in Ontario caused estimated $340 million in insured damages: IBC IBC says the Ottawa region was hit hardest by the summer storms. Five storms in total were designated as catastrophes. The effects of these storms in July and August included hailstones, flooding and tornadoes.
Airlines welcome changes to IBC as a ‘positive step’ | Mint New amendment to IBC boosts confidence of lessors to lease more aircraft to Indian airlines. Around 80% of the commercial fleet in India is leased compared with 53% globally. Ireland, Singapore and Hong Kong are centres for aircraft-related leasing activities.
Re-tweak the IBC to better secure aircraft lessor rights | Mint This week’s IBC rule carve-out aims to protect the rights of aircraft lessors and financers under international pacts. Indian carriers ordered more than 1,400 aircraft in the 2009-2022 period. Almost three-fourths of the planes used by Indian carriers are on lease.
Resolutions under IBC see 80% rise in last fiscal, efforts on to speed up the process: Officials | Mint Resolutions under IBC see 80% rise in last fiscal, efforts on to speed up the process: Officials. Corporate Affairs Secretary Manoj Govil Sunday said the number of resolutions of stressed assets under insolvency norms is likely to touch 300 this financial year. Under the IBC law, creditors have witnessed recoveries of nearly ₹3 lakh crore.
Forensic audits gain pivotal role in insolvency landscape | Mint Forensic auditors scrutinize financial records to unearth evidence, including irregularities. IBC’s focus on reviewing past transactions of companies highlights the critical role of forensic auditors in addressing industrial distress in India.
Root beer float recipes: Boozy additions to typical vanilla ice cream, root beer recipe Frank J. Wisner, the owner of Cripple Creek Brewing in Colorado, is credited with creating the first version of a root beer float in 1893. A&W, Barq's, Mug, IBC and Dad's are some of the most popular root beer brands.
IBC signs $971.89M pact with Karnataka to build battery manufacturing facility | Mint Karnataka Minister for Commerce & Industries, Infrastructure MB Patil said in a post on Tuesday that International Battery Company (IBC) has signed an investment pact worth 80 billion rupees ($971.89 million) with state to build a battery manufacturing facility. IBC intends to commence production at the Karnataka facility by 2025.
IBC signs $971.89M pact with Karnataka to build battery manufacturing facility | Mint International Battery Company (IBC) signed an investment pact worth 80 billion rupees ($971.89 million) with state to build a battery manufacturing facility. The manufacturing facility will be spread across 100 acres in the state, said in a post on social media platform X.
Battery maker IBC to set up plant in India's Karnataka for nearly $1 bln International Battery Company (IBC) has signed an investment pact with India's southern state of Karnataka. The manufacturing facility will be spread across 100 acres in the state. IBC plans to begin production by 2025, Bloomberg News reported.
Battery maker IBC to set up plant in India's Karnataka for nearly US$1 billion International Battery Company (IBC) has signed an investment pact worth 80 billion rupees (US$971.89 million) with India's southern state of Karnataka. The manufacturing facility will be spread across 100 acres in the state. IBC plans to begin production by 2025, Bloomberg News reported.
When is National Broadcasting Day 2023? Date, History, Significance, Evolution, and Quotes India witnessed its first radio broadcast in June 1923, initiated by the Radio Club of Bombay. On July 23, 1927, the Indian Broadcasting Company (IBC) became the country’s first radio company. This date is now celebrated annually in India as National Broadcasting Day.
When is National Broadcasting Day 2023? Date, History, Significance, Evolution, and Quotes India witnessed its first radio broadcast in June 1923, initiated by the Radio Club of Bombay. Subsequently, on July 23, 1927, the Indian Broadcasting Company (IBC) became the country’s first radio company. This date is now celebrated annually in India as National Broadcasting Day.
IBCȴĽʡɤϳָ1פȡֻפΤߤνʬ˼Ϥ鵿䤬 - 饤֥ɥ˥塼 IBC: “IBC’s logo is “I’m proud to be part of the IBC.’” ‘What do you like about Facebook?': ‘I like Facebook. What do you think?’
IndusInd Bank promoter IIHL to raise $1.5 billion to hike stake in bank, to fund Reliance Capital acquisition IIHL is the sole Resolution Applicant with a bid amount of $1.2 billion (₹9,650 crore) in the process run under IBC for Reliance Capital Ltd. The company is likely to be listed by the next year, it said.
IndusInd Bank promoter IIHL to raise $1.5 billion to hike stake in bank, to fund Reliance Capital acquisition IIHL is the sole Resolution Applicant with a bid amount of $1.2 billion (₹9,650 crore) in the process run under IBC for Reliance Capital Ltd. The company is likely to be listed by the next year.
Is IBC a mechanism to rescue stressed firms or another tool for ‘organised loot’, asks Congress The party also asked if the IBC was aimed at helping cronies to create monopolies by transferring businesses at throwaway prices. The total recovery of debt under IBC is at only 17.6% of the “admitted claims,” resulting in a loss of 82.4% for financial creditors.
Is IBC a mechanism to rescue stressed firms or another tool for ‘organised loot’, asks Congress The party also asked if the IBC was aimed at helping cronies to create monopolies by transferring businesses at throwaway prices. The total recovery of debt under IBC is at only 17.6% of ‘admitted claims’ by the end of FY 2023.
Home buyers likely to get some relief from bankruptcy shock | Mint Home buyers may be spared agony in insolvency cases where they have bought and occupied a house without completing the necessary paperwork. Currently, such houses are considered part of the builder’s inventory and hence open to resolution under the Insolvency and Bankruptcy Code. The government is planning a special carveout within IBC to exclude such homes.
Home buyers likely to get some relief from bankruptcy shock | Mint The government is planning a special carveout within IBC to exclude such homes. In some cases, customers got possession but not occupation certificates, as the developer failed to pay the local authority for the land. About a fifth of all companies ending up in bankruptcy tribunals are from real estate.
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