Synopsis
Earlier this month, the government had introduced a pre-packaged insolvency resolution process for stressed MSMEs by amending the insolvency law.
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MUMBAI: State-owned
Bank of Maharashtra is looking at resolving 20-25 stressed micro, small and medium enterprise (MSME) accounts under the pre-packaged insolvency resolution process, a senior bank official said.
Earlier this month, the government had introduced a pre-packaged insolvency resolution process for stressed MSMEs by amending the insolvency law.
Under a pre-packaged process, main stakeholders such as creditors and shareholders come together to identify a prospective buyer and negotiate a resolution plan before approaching the National Company Law Tribunal (NCLT).
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In Brief
Thursday, 22 April 2021 16:17 Private equity / VC
“Byju’s has raised over $1 billion from investors led by Baron Funds, Facebook co-founder Eduardo Saverin’s B Capital Group, and US-based investment hedge fund XN Exponent Holding, regulatory filings with the Ministry of Corporate Affairs sourced from business intelligence platform Tofler showed.” reports The Economic Times.
AZB & Partners advised existing investor
Normally, the work style in capital market teams across law firms has tight timelines and stressful environment. However, good increments with bonuses and work environments in certain capital market teams have changed the entire game.
Having worked with the erstwhile AMSS (Capital Markets) for couple of years and now in -house (as a Banker), I think in the long run, Prashant & Nikhil (SAM), Manan (Indus) and Yash (CAM) are clear winners, as they care about their people, ensure timely increment for their teams. Also, heard that there is next to zero attrition in their teams (nonetheless, one of the lead bank has hired few associates from CAM, Mumbai capital markets, but this appears more of a choice than environment issues).
Are you happy? If you are happy, you are doing well.ReplyReport to LI
Like+2 Object-0 Been there, done that. 6 weeks ago Firstly, congratulations on starting on your own. I ve done this in the past, and will do it again :)
I think in the first year (also pandemic year!) 55 lakh revenue with negligible costs is great! Most importantly, as someone has commented below, if you re happy nothing else matters. And that assumes that that revenue is sufficient to cover your expenses without compromising your (and your family s) lifestyle.
In my view, having key tie ups are important - if you can work out revenue sharing arrangements with a litigating lawyer, it will only add to your practice. All the best!ReplyReport to LI