The Centre is considering an increase in the National Company Law Tribunal's bench capacity, while the Standing Committee of Finance suggests fast-track courts.
The proposed amendment to the Insolvency and Bankruptcy Code aims to reduce timelines and provide for a mechanism that involves minimal interaction with the court. It fails on both counts.
New bill aims to fix key issues with IBC 2016, including delays & patchy implementation, and protect creditors, with window for genuine promoters to retain control of their companies.
Indisputable that firm availed BCCI’s services through sponsorship rights, says NCLT, dismissing opposition to insolvency on grounds that deal involved transfer of some rights only.
Data from Insolvency & Bankruptcy Board of India shows time taken to come up with a resolution plan is 2.5 times what it was 4 yrs ago. Recoveries are only about 1/3 of claim amounts.
A recent independent perception-based study undertaken by V. V. Giri National Labour Institute provides an early diagnosis of how workers & employers view the implementation process.
Signalling a shift in how it is positioning itself within the global tourism and remote-work economy, Sri Lanka joins list of countries, led by Estonia, that set up digital nomad visa programmes post COVID-19.
By next weekend, Bangladesh will have an elected government. This is India’s moment to reboot broken ties by moderating the ‘ghuspethiya’ rhetoric in poll-bound West Bengal and Assam.
COMMENTS