The K.V.Kamath committee constituted by RBI names 26 sectors for restructuring: COVID 19 related stress

Based on the report of the Expert Committee (K.V.Kamath Committee) on Resolution Framework for Covid-19 related Stress the Reserve Bank of India (RBI) on Monday announced the financial parameters for the resolution plans under the scheme. The Committee has recommended financial parameters that, inter alia, include aspects related to leverage, liquidity, and debt serviceability. The…

Blanket suspension of Insolvency and Bankruptcy Code (IBC) for a period of six months may extend

The government of India promulgated an ordinance to suspended initiation of fresh insolvency proceedings for a period of six months to shield companies impacted by the outbreak of Covid-19.  Ministry of Finance has announced that the Insolvency & Bankruptcy Code (“IBC”) proceedings under Section 7, 9 and 10 would be suspended for a period of…

Who is required to register security interests with CERSAI after the SARFAESI amendment 2019?

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002(SARFAESI Act 2002) provide for Enforcement of Security Interest for the realization of the dues without the intervention of Courts or Tribunals for recovery of NPAs by banks under various laws. In 2016 NBFC is included under the definition of the financial institution through…