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February 27, 2021 Kumar Mangalam Birla, Chairman, Aditya Birla Group× The government has done the initial plumbing work for the Indian economy to come out of the Covid crisis and it is now time for India Inc to rise to the occasion, said Kumar Mangalam Birla, Chairman, Aditya Birla Group. Comparing the current reforms to that of Manmohan Singh’s in 1991, Birla said the earlier reforms were necessitated due to the payment crisis while the present one can take India to sustained growth in years to come. “I would term this Union Budget 2021 as the new 1991 in terms of reforms. The governme...

At 21% recovery, IBC has performed worse than UPA-era debt recovery mechanisms panned for inefficiencies. The idea of a bad bank is also likely to fail if political interference and poor bank governance continue

These go to strengthen the Code, which an important measure, meant to prevent insolvency by reviving ailing businesses. The Code however, is not a recovery tool for creditors but a resolution mechanism to breathe life into stressed assets of the corporate debtor

The Impact of Brexit on Close-out Netting Opinions  Published 2 months ago Robert Peat, Consultant, D2 Legal Technology On 1 December 2020 ISDA published a high-level overview of certain considerations regarding contractual arrangements between EU/EEA-based counterparties and contractual arrangements governed by the law of an EU/EEA Member State in the light of the UK’s exit from the EU (“ Brexit”). The implications of Brexit will clearly have an obvious impact on many areas of the financial sector. This includes the analysis conducted for regulatory capital purposes through close-out...

To print this article, all you need is to be registered or login on Mondaq.com. The insolvency resolution process in India has in the past elaborated the simultaneous operation of several statutory instruments. This includes the Sick Industrial Companies Act, 1985, the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest, 2002, the Recovery of Debt Due to Banks and Financial Institution Act, 1993 and the Companies Act, 2013. The involuntary liquidation provisions in the Insolvency and Bankruptcy Code, 2016 (“IBC”) came into ef...