Filing Returns under Section 31 of the Banking Regulation Act

October 13, 2020 INSOL India - Editorial Team

The Reserve Bank of India vide its notification dated October 13, 2020, has notified that the period for furnishing returns under Section 31 of the Banking Regulation Act for the financial year ended on March 31, 2020, has been extended..

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Interst Subvention Schemd for MSMEs – Cooperative Banks

October 7, 2020 INSOL India - Editorial Team

On October 7, 2020, the Reserve Bank of India issued a notification modifying the operational guidelines for “Interest Subvention Scheme for MSMEs 2018.”  The scheme provides an interest relief of two per cent per annum to the MSMEs subject to..

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Attached Assets and Resolution Plan

October 15, 2020 INSOL India - Editorial Team

The Adjudicating Authority while approving the paln directed that the entry of the Government of Maharashtra, added by Sugar Commissioner, be removed and that the attached assets can be utilised for resolution plan and consequently the said assets were made..

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Resolution Framework for all Exposures of Lending Institutions

October 13, 2020 INSOL India - Editorial Team

On October 13, 2020, the Reserve Bank of India notified that lending institutions can invoke resolution framework launched under the Covid-19 linked stressed assets  for resolution in respect of all exposures including investment exposures, provided they are credit substitutes such..

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Clarification from RBI

October 15, 2020 INSOL India - Editorial Team

The Reserve Bank of India by its circular dated October 13, 2020, has clarified that loans which have remained standard without any default as of March 1, 2020, will be eligible for retructuring under the pandemic related resolution framework issued..

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Corporate Insolvency – Default Threshold

October 15, 2020 INSOL India - Editorial Team

The NCLAT has held that the revised threshold of Rs.1 crore to invoke the jurisdiction under IBC effective March 24, 2020, is rpospective and not retrospective.  In tother words all applications before March 24, 2020 with a default of more..

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