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Key Features of Insolvency and Bankruptcy Rules, 2019
On Friday, the landmark Judgement in the Essar Steel case was passed by the Supreme Court of India, which gave priority to the financial creditors against the operational creditors. From the proceeds that will be generated from the liquidation process dues of the financial creditors will be released on a priority basis, and then the operational creditors will be paid.
Not only came the Essar ruling but also a new rule for the Bankruptcy law was notified. Ministry of Corporate Affairs has notified the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019.
The new rules have been notified, especially for the insolvency proceeding against the Financial Service Providers (FSPs) and will not include banks. The central government framed the rules for the insolvency that is initiated against the FSPs and mentioned that an insolvency proceeding against the FSPs could only be taken only when an appropriate regulator makes the application.
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7 Best Penny stocks under Rs 10!
On January 18, 2023, seven penny stocks locked in the upper circuit had a price of less than Rs 10.
These stocks include Hemo Organic,...
LIC on Adani: Positive on our A1 investments
LIC says: "We talk to companies that we invest in as a routine," Mohanty continued, telling CNBC-TV18 that "Adani investments are within our prudent...
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Coronavirus Update: China to step up prevention of epidemic rebound, imported...
BEIJING -- A leading group of China's COVID-19 response on Thursday stressed measures to prevent the rebound of the epidemic within the country and...
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Pollution at its worst: Delhi schools to remain closed again for...
Delhi is choking again and with the drastic spikes in the pollution levels, the Environment Pollution (Prevention and Control) Authority [EPCA] has directed to shut down the schools in Delhi-NCR till November 15. The directive came in on Wednesday in response to the alarming levels of environmental distress.
Business
Budget 2020: How much will you lose if you opt out of your old...
In a relief to taxpayers, Finance Minister Nirmala Sitharaman has proposed to cut income tax rates and change slabs to lower tax incidence for those earning upto Rs 15 lakh a year. The Minister has proposed a 10 percent tax on income between Rs 5 lakh and Rs 7.5 lakh from the current 20 percent now.
Testurprep: Your Virtual Teacher
TestUrPrep is an online education platform whose aim is to provide education and deliver knowledge in a modern way and in an efficient manner. It focuses not only on discussing a concept, but also providing a student with supplementary study material, live lectures, practice tests and doubts clarity sessions.
Please note that this your one stop online destination for all your test preparations! Whether it is appearing for study abroad programs or securing admission to the college of your dreams, the team at TestUrPrep will cover all the you course. They have a cutting edge syllabus, expertly designed test papers and latest courses. They ensure that the people who join their course are always ahead of the curve.
‘Questionable’ and ‘Unfair Conduct’ cites Bharti Airtel, withdraws bid for RCom assets.
Bharti Airtel, one of the biggest telecom operators, has withdrawn his bid to purchase the assets of Reliance Communications. They alleged the act of the Committee of Creditors as biased and Unfair, i.e., their act of extending the time limit of submitting the bid. CoC extended the time limit by ten days for submitting the bid on the request made by Reliance Jio.
Harjeet Kohli, who is the finance director of Bharti Airtel wrote a letter to the resolution professional and without naming Reliance Jio said that the committee of creditors rejected their request to extend the time for submitting the bid for Reliance communication. Still, surprisingly the dates have now been extended to accommodate a bidder.
India’s mobile phone output rose from 5.8 crore: Cut in customs duty
On Wednesday, Nirmala Sitharaman, the minister of finance, announced a reduction in the customs duty in India on the import of specific components used...
DCal: Water is life, Treat it right!
DCal is a brand that manufactures innovative low-cost hard water softener. It is a simple solution for hard water problems. DCal introduced a unique way to solve hard-ward problems by removing the stickiness of calcium ions instead of following the traditional method of removing the presence of the minerals. In this process the calcium will not stick on the walls, pipes, taps and buckets. The product that is provided to fight with water problems by DCal isn’t huge, in fact, it is of a regular-sized water bottle size and has no strings attached. It needs to be just dropped in the over tank head of your house without any plumber and extra pipes. There is no electricity and water wastage in this process and it requires zero maintenance.
LIC on Adani: Positive on our A1 investments
LIC says: "We talk to companies that we invest in as a routine," Mohanty continued, telling CNBC-TV18 that "Adani investments are within our prudent...
Relationship
Son-in-law who was in live-in relationship with mother-in-law, killed her
a man strangled his live-in partner to death early Sunday. The mother-in-law and son-in-law relationship is said to be between the two. Police arrived after receiving information and took the body in possession and sent it for postmortem. The incident is from the Ashoka Garden area of Bhopal.
Stop yourself from doing these 5 stupid things after breakup
Did you just broke up with your partner? Are you having a tough time dealing with it? Do you really miss your partner? Well, if this is the situation then read on. Today we will be discussing 5 stupid things one should never do after breakup. We get it, its a difficult time in your life, but you have to move on. We also know that moving on just don't happen in a day, it will take time but yes, you have to start healing immediately.
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