Page-2 of Debt Current Affairs, GK & News
The Union Cabinet approved the amendment of the Direct Tax Vivad se Vishwas Bill, 2020, so that it also covers the litigations pending in debt recovery tribunals (DRTs) across the country. The scheme can be availed in search and seizure procedures, where the recovery is up to ₹5 crore. Vivad se Vishwas Bill, 2020 is aimed at providing resolution ..
On February 12, 2020, the Union Cabinet approved on capital infusion in three Public Sector Units namely United India Insurance Company (UIICL), Oriental Insurance Company Limited (OICL) and National Insurance Company Limited (NICL). Highlights During the meet the cabinet also approved an immediate release of Rs 2,500 crores in order to address their critical financial ..
Category: India Nation & States Current Affairs
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 creates a path for Arcelor Mittal to take over Essar and enter the world’s second ..
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 liquidation proceedings of Financial Service Providers (FSPs) other than banks. These rules will be applicable ..
India has been ranked 63rd among 190 countries, as per latest Doing Business Report (DBR, 2020) of World Bank (WB). As per report, the World Bank (WB) has recognized India as one of the top 10 improvers for the third consecutive year. India’s recovery rate under resolving insolvency has improved significantly from 26.5% to 71.6%. ..