SC upholds 100-homebuyer threshold for insolvency application against realtors
The threshold is the requirement that there should be at least 100 allottees or 10 per cent of the total allottees, whichever is less, to support an insolvency application against a real estate project
Dipak Mondal | January 19, 2021 | Updated 23:35 IST
The Supreme Court has dismissed the homebuyers plea against the threshold introduced in the Insolvency and Bankruptcy Code (IBC) for them to file insolvency application against a real estate company.
The threshold is the requirement that there should be at least 100 allottees or 10 per cent of the total allottees, whichever is less, to support an insolvency application against a real estate project.
End Red Tape, Roll Out Red Carpet
by Minhaz Merchant - Jan 18, 2021 07:06 AM
Finance Minister Nirmala Sitharaman.
Snapshot
In the post-pandemic world, being the fastest growing economy is an imminently attainable target for India.
However, for that, the government must double down on the ease of doing business reforms it has already initiated.
When Prime Minister Narendra Modi took office in May 2014, he vowed to end the red tape that for decades had choked Indian business. He pledged to instead roll out the red carpet, attract foreign investment and improve the ease of doing business in India.
More than six years later, on the eve of the 2021-22 Union Budget, itâs time to take stock.
Fixing software bugs in India’s economy
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(Photo: PTI)
Arvind Subramanian,
Josh Felman
Beyond the Budget, the key to reviving growth lies in improving economic stewardship. Here’s how
In the upcoming Union Budget, measures must be urgently taken in order to address the protracted and worsening Twin Balance Sheet problem, including revitalizing the IBC.
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NEW DELHI :
The upcoming Union Budget is a critical one, for it offers an opportunity to reset the economy so that it can boom again in the coming years. But this opportunity can only be seized if the Budget is based on a sound diagnosis of the problem: Where are we now and why? This piece aims to serve up a diagnosis and suggest a way forward.
DHFL resolution: Lenders approve Piramal s bid
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Last Updated: Jan 17, 2021, 07:38 PM IST
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Synopsis
The resolution plan submitted by Piramal Capital and Housing Finance Limited was duly approved by CoC by majority voting under section 30(4) of the Insolvency & Bankruptcy Code..as the successful resolution plan, it said.
Agencies
DHFL was the first finance company to be referred to NCLT by the RBI using special powers under Section 227 of the IBC.
NEW DELHI: Debt-ridden mortgage lender
This was approved by the CoC in its 18th meeting concluded on January 15, 2021, DHFL said in a regulatory filing.
The resolution plan submitted by Piramal Capital and Housing Finance Limited was duly approved by CoC by majority voting under section 30(4) of the Insolvency & Bankruptcy Code..as the successful resolution plan, it said.
Read more about Brace for selective interest in stressed assets on Business Standard. With looming uncertainty, investors will be very selective, cautious and careful in allocating funds towards this asset class