THE BILL TO amend the Insolvency and Bankruptcy Code (IBC), set to be presented in Parliament during the Budget session, may include provisions for the introduction of "group insolvency" norms, according to official sources.
To increase value maximization of assets, reduce the workload of National Company Law Tribunals (NCLTs), and improve cost efficiency, there is a need to formally codify group insolvency norms, they said.
Group insolvency refers to the process in which multiple companies under common management or ownership face insolvency issues simultaneously. For example, a default by one company in a group can trigger a cross-default affecting other companies within the same group.
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Denne historien er fra December 16, 2024-utgaven av Financial Express Kolkata.
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IIT-Madras to offer fine arts, culture courses
IN A FIRST for Indian Institutes of Technology (IITs), IIT-Madras on Tuesday said it would offer two supernumerary seats in each undergraduate programme to students who have achieved excellence in fine arts and culture, starting from the upcoming academic session.
Not even 2% work-linked higher education courses yet: Report
EVEN AS ASSORTED government schemes are a national skill mission aiming to make India's workforce more employable, the latest TeamLease EdTech survey has revealed that barely 2% of the higher education institutions (HEIs) in the country are offering degrees that are work-linked.
The world's busiest airline routes in 2024 are largely in Asia
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Indian firms use euro, yen swaps
ECB president Christine Lagarde hinted at a bigger 50 basis point rate cut to buffer the euro zone economy
SME IPOs fetch rich returns in Dec
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EPFO weighs higher equity investments
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KYC masking to go live on Jan 20
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Trudeau govt adrift after FM quits, Trump tariffs loom
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TikTok turns to top US court in last-ditch attempt to avert ban
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China plans record budget deficit of 4% of GDP in 2025
• New plan compares with an initial target of 3% of 2024 GDP
