123 operational creditors' cases in NCLT in Sep qtr
84 operational creditors' cases in NCLT in Dec qtr
Instances of vendors and suppliers arm-twisting their clients to try and recover dues using the bankruptcy code as a tool is in sharp decline, showed official data.
Information available from the Insolvency and Bankruptcy Board of India (IBBI), the rule maker, showed that there is a 33% fall in the admission of bankruptcy petitions filed by operational creditors in the December quarter compared with the previous three months, while there is a matching increase in the admission of cases filed by financial creditors like banks.
The shift in the trend comes after both tribunals and the Supreme Court drove home the point in various cases that in spite of payment defaults, businesses could otherwise be solvent, a factor they said ought to be kept in mind while admitting cases.
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World Bank calls for reforming skills training in India
India must make a coordinated effort to reform and rebrand vocational skill training, besides aligning education with the job market, to leverage its demographic advantage to meet the $5-trillion target for its economy, the World Bank said.
FCPA cases take long to conclude after indictment
For investors keen to know the fate of billionaire Gautam Adani's indictment by US authorities, the watchword is patience.
Short-covering, relief rally add ₹7.27 trillion wealth
Markets up 2.39% to hit the highest in six months, a day after Adani's indictment
Wetter monsoon slows pace of adding new transmission lines
India's addition of new power transmission lines fell by half over a year earlier in the April-October period as a wetter-than-usual monsoon slowed work.
COP29's $1.3 tn fund plan disappoints Global South
The 29th edition of the UN climate change conference in Azerbaijan emerged from a deadlock with an annual climate finance goal of $1.3 trillion for developing countries, much to the disappointment of the Global South.
Jaguar rebrand is pink, diverse and doesn't feature any cars
Luxury automaker Jaguar is betting that a colorful and youthful rebrand will help it successfully launch fully into the electric-cars market.
Services up as manufacturing slows in Nov
The HSBC Flash India Services PMI was at 59.2 in Nov from 58.5 in Oct; manufacturing PMI fell slightly from 60.4 to 60.2
MSMED may protect medium firms too
The Centre may consider including medium enterprises for the protection granted under MSME Development (MSMED) Act, 2006, to resolve payment disputes.
Europe boosts Indian textile exports in FY25
Demand for Indian handloom, apparel partly fuelled by Bangladesh crisis
RBI nudges banks to cut speculative bet in rupee
The Indian central bank, in a rare move, instructed some banks to cut their long positions on the dollar-rupee pair on Friday, seeking to curb speculative positions with the currency at a record low, four bankers familiar with the development told Reuters.
