Page-4 of Insolvency and Bankruptcy Code Current Affairs, GK & News

PMLA prevails over Bankruptcy Act and Insolvency Code: Delhi HC

The Delhi High Court has ruled that Prevention of Money Laundering Act (PMLA) prevails over the Bankruptcy Act and insolvency code when it comes to attachment of properties obtained as ‘proceeds of crime’. The Enforcement Directorate (ED) had challenged the orders of PMLA appellate tribunal on the pleas of various banks. PMLA Tribunal had held that ..

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Supreme Court quashes RBI’s circular Mandating Insolvency Proceedings

The Supreme Court has struck down a February 2018 Reserve Bank of India (RBI) circular which gave lender banks six months to resolve their stressed assets or move under the Insolvency Code against private entities who have defaulted in loans worth over Rs 2000 crore. The RBI had defended the circular by citing public interest ..

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IBBI and SEBI sign pact for Effective Implementation of IBC

Insolvency and Bankruptcy Board of India (IBBI) and Securities and Exchange Board of India (SEBI) have signed a Memorandum of Understanding (MoU) to assist and co-operate with each other for the effective implementation of the Insolvency and Bankruptcy Code. Components of the MoU Sharing of information between the two parties. Sharing of resources available with ..

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Government of India approves establishment of two new benches of NCLT

The National Company Law Tribunal (NCLT) has been set up under the Companies Act of 2013. It has provided an effective and time bound adjudication mechanism to deal with matters related to the Companies Act of 2013, the Insolvency and Bankruptcy Code (IBC) of 2016 and the LLP Act of 2008. It is in news ..

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NITI Aayog hosts Conference on Future of Indian Banking and role of technology Tomorrow

The think tank Niti Ayog had hosted the conference on Future of Indian Banking and role of technology Tomorrow in association with the Foundation for Economic Growth and Welfare (EGROW Foundation). The conference was inaugurated by Dr Rajiv Kumar, Vice Chairman, NITI Aayog. The speakers in the event included Rajiv Kumar, Secretary, Department of Financial Services, ..

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