The United Nations recently announced that the world is to face five major risks in 2022. These risks are referred to five – alarm global fire. The five alarms are COVID-19, lawlessness in cyberspace, climate crisis, bankrupt global financial system ..
Category: International / World Current Affairs
The United States National Rifle Association recently filed for bankruptcy under Chapter 11 of the bankruptcy code. The association filed for bankruptcy in order to avoid being investigated by New York Attorney General. Background The New York Attorney General had ..
On 15 Nov, the three judge bench of the Supreme Court has accepted world’s largest steelmaker, Arcelor Mittal’s offer to pay an aggregate Rs 42,000 crore as an upfront amount to the secured financial creditors of bankrupt Essar Steel. This ..
On 15 Nov, the Ministry of Corporate Affairs (MCA) has notified the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019 (Rules). The rules will provide a framework for insolvency and ..
The Reserve Bank of India (RBI) has proposed new norms under Prudential framework for resolution of stressed assets for debt resolution after the earlier one was struck down by the Supreme Court. New Norms New norms are applicable for loan ..
The insolvency regulator Insolvency and Bankruptcy Board of India (IBBI) has set up a 11-member working group under the Chairmanship of former SEBI chief UK Sinha to go into the concept of ‘Group Insolvency’ and suggest a suitable framework. This ..