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INSOL India is an independent leadership body representing practitioners and other associated professionals specialising in the fields of restructuring, insolvency and turnaround. It is an association with an architecture that facilitates key stakeholders to come together and share experiences while preserving their independence. |
Welcome to INSOL India Newsletter Volume 24, Issue APRIL | Apr 21, 2020
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Upcoming Events and Activities
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1st |
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May, 2021 |
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Venue: INSOL International
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In this edition
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Articles
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COVID-19 CHANGES EVERYTHING: A LOOK AT INSOLVENCY RELIEF MEASURES ACROSS THE GLOBE |
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RESERVE BANK CLARIFIES THE INTERPRETATIONAL ISSUES IN ITS COVID-19 PACKAGE IMPACTING THE TIMELINES UNDER THE INSOLVENCY AND BANKRUPTCY CODE |
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Insolvency Bankruptcy Code - by Prof. Pryor C. Scott |
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News
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FULLY ACCESSIBLE ROUTE’ FOR INVESTMENT BY NON-RESIDENT INDIANS IN GOVERNMENT SECURITIES |
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RELAXATION OF TAXATION LAWS/RULES |
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IBBI AMENDS RESOLUTION PROCESS REGULATIONS |
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COMPANIES SEEK RULE RELAXATION TO PAY INTERIM DIVIDEND |
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HUL - GSK MERGER COMPLETE |
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STATE RUN BANKS STAND MERGED EFFECTIVE APRIL 1, 2020 |
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UN MAKES INDIA AS NEXT WORLD ECONOMY |
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FOREIGN TRADE POLICY TO CONTINUE |
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COMPANIES FRESH START SCHEME (CFSS - 2020) |
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INVESTMENT LIMITS OF FOREIGN PORTFOLIO INVESTORS |
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EGM THROUGH VIDEO CONFERENCING |
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AMENDMENTS IN THE INSOLVENCY AND BANKRUPTCY LAW |
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Feature for the modification of CIRP Forms (including IP-1 Form) which is submitted by an Insolvency Professional in compliance of regulation 40B of the Insolvency & Bankruptcy Board of India (Insolvency resolution Process for Corporate Persons) Regulations, 2016- |
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Notification as per Section 5(15) of the Insolvency & Bankruptcy Code, 2016: |
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WHATS HAPPENING AROUND? - Bankruptcy board set to tackle group insolvency |
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UPDATES ON OTHER COINCIDING/ RELATING LAWS - ARBITRATION LAW UPDATES |
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INSOL India gets new member to Editorial Team |
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FULLY ACCESSIBLE ROUTE’ FOR INVESTMENT BY NON-RESIDENT INDIANS IN GOVERNMENT SECURITIES
Reserve Bank of India by two circulars bearing No. RBI/2019-20/199 AP (DIRC) Circular No. 24 and No. RBI/2019-20/200 AP (DIRC) Circular No.25 has clarified and revised the limit of FDI in corporate …
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RELAXATION OF TAXATION LAWS/RULES
The Hon’ble President Promulgated taxation and other laws (relaxation of certain provisions) Ordinance 2020. Where, any time has been specified which falls during the period from 20th March, …
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IBBI AMENDS RESOLUTION PROCESS REGULATIONS
IBBI amended the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations 2016. In view of the nationwide lockdown in view of Covid-19, it is difficult for the Resolution professional/ …
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COMPANIES SEEK RULE RELAXATION TO PAY INTERIM DIVIDEND
The Ministry of Corporate Affairs has received representations from industries, companies, body corporates, and others for relaxation in the provisions of Section 123 of the Companies Act in …
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HUL - GSK MERGER COMPLETE
Hindustan Unilever Limited has completed the merger of Glaxo Smith Kline Consumer Healthcare Limited with itself. It is almost one year ago when this merger was announced and all this time took to …
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SEBI RELATED NEWS
SEBI extends deadlines for comments on proposed relaxation in delisting norms and QIP. In view of the extraordinary pandemic situation, the deadline for public comments on proposed relaxation in …
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STATE RUN BANKS STAND MERGED EFFECTIVE APRIL 1, 2020
Ten state run banks into four lenders have become effective from April 1, 2020. All branches of the merging banks will operate as of the banks in which they have been amalgamated and merged …
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UN MAKES INDIA AS NEXT WORLD ECONOMY
UN in its latest trade report has observed loss of trillions of dollars and the global economy will come into recession. The only exception made is India and China. Hope India can carry this out in …
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FOREIGN TRADE POLICY TO CONTINUE
The Government of India has extended the Foreign Trade Policy for a period of six months from April 1, 2020. The new Five Year Policy 2020-25 has not been finalized as consultations could not be …
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COMPANIES FRESH START SCHEME (CFSS - 2020)
On March 30, 2020, the Ministry of Corporate Affairs has issued a circular condoning the delay in filing certain documents during the current year C Form under Section 403 read with Companies …
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INVESTMENT LIMITS OF FOREIGN PORTFOLIO INVESTORS
The Reserve Bank of India has issued a circular bearing No. RBI/2019-220-214 AP Circular dated 30 dated April 15, 2020 clarifying that the aggregate investment limits of foreign portfolio investors …
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EGM THROUGH VIDEO CONFERENCING
The Ministry of Corporate Affairs by circular No. 14/2020 dated April 8, 2020, considering the present circumstances caused by the Coronavirus Disease, has allowed companies to conduct Extraordinary …
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RBI’s ACTIONS
RBI has for the second time in COVID-19 crisis has stepped in on 16.4.2020, Friday, to ensure liquidity and elevate stress in state finances, NBFCs, micro-finance institutions, real estate – …
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AMENDMENTS IN THE INSOLVENCY AND BANKRUPTCY LAW
Comparison of the provisions of the Insolvency & Bankruptcy Amendment Act, 2020 with the Insolvency & Bankruptcy Code, 2016
1. Insolvency Commencement Date:
The Insolvency & Bankruptcy Amendment …
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Feature for the modification of CIRP Forms (including IP-1 Form) which is submitted by an Insolvency Professional in compliance of regulation 40B of the Insolvency & Bankruptcy Board of India (Insolvency resolution Process for Corporate Persons) Regulations, 2016-
As per Sub-regulation 3 of regulation 40B of the Insolvency & Bankruptcy Board of India (Insolvency Resolution Process for the Corporate Persons) Regulations, 2016, an IP shall ensure that the Forms …
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Notification as per Section 5(15) of the Insolvency & Bankruptcy Code, 2016:
A notification was issued by the Ministry of Corporate Affairs on 18th March stating that the Central Government has notified the expression “Special Window for Affordable and Middle-Income …
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WHATS HAPPENING AROUND? - Bankruptcy board set to tackle group insolvency
India’s bankruptcy regulator, the Insolvency & Bankruptcy Board of India (the Board), is seeking to amend its rules and regulations to ensure that the IBC is suited to handle group …
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UPDATES ON OTHER COINCIDING/ RELATING LAWS - ARBITRATION LAW UPDATES
The limitation period for filing of an application to set aside a domestic award in India is 3 months (extendable at the discretion of the court by 30 days) from the receipt of the arbitral award by …
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INSOL India gets new member to Editorial Team
We are pleased to announce that Ashwin Bishnoi joins our editorial board. Ashwin is a Partner at the leading law firm of Khaitan & Co. Ashwin specializes in complex corporate rescues and distress M&A …
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COVID-19 CHANGES EVERYTHING: A LOOK AT INSOLVENCY RELIEF MEASURES ACROSS THE GLOBE
The global economy is facing daunting challenges as a result of Covid 19. Supply chain disruptions and demand deficiency has crippled economic activity and is likely to result in increasing defaults in debt repayments. Governments across the globe …
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RESERVE BANK CLARIFIES THE INTERPRETATIONAL ISSUES IN ITS COVID-19 PACKAGE IMPACTING THE TIMELINES UNDER THE INSOLVENCY AND BANKRUPTCY CODE
The Insolvency and Bankruptcy Code, 2016 (Code), with its comprehensive, consolidatory and streamlined focus on time-bound resolution of corporate insolvency in India, has often been lauded for its creditor-centric approach. The recent outbreak of …
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Insolvency Bankruptcy Code - by Prof. Pryor C. Scott
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E-Newsletter Editorial Board
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Founder & Managing Partner, Equilex
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Partner, Shardul Amarchand Mangaldas
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Partner, PwC India
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Partner, Dentons Link Legal
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Senior Partner with DSK Legal
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Managing Associate, Chandhiok & Mahajan
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Assistant Professor - Faculty of Law, University of Delhi
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Disclaimer
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INSOL India is a society registered under the provisions of Societies Registration Act XXI of 1860. A certificate to this effect was issued by the Registrar of Societies, Government of National Capital Territory of Delhi on 11th January 2000.
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The formation of INSOL India fulfilled the long cherished desire of the members of the legal fraternity, chartered accountants, company secretaries and other persons, bodies and institutions in India, to have an association to promote closer co-operation, exchange of ideas, dissemination of information and an empathetic understanding of law of insolvency and related laws.
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contact@insolindia.com
www.insolindia.com