The Insolvency and Bankruptcy Board of India (IBBI) has proposed revised regulations to allow operational creditors to opt for voluntary mediation before starting insolvency proceedings against a company. The aim is to ease the burden on the judiciary and reduce delays in insolvency processes.
"In case of failure of mediation settlement, the mediator will prepare a non-settlement report, which shall be annexed with the application for initiation of Corporate Insolvency Resolution Process (CIRP) before the adjudicating authority (AA),"" the IBBI said, adding that the proposal would reduce the burden on the authority and expedite admissions.
This story is from the November 06, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 06, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Technology changes BFSI sector
Firms in the industry are undergoing a major digital transformation, with technologies - Cloud, Al, GenAI, RPA, and blockchain - leading the way, says a Business Standard-Everest Group report
Making sense of India's real estate boom
Growth drivers in real estate include urbanisation, disposable incomes, and demand for residential, commercial, and logistics spaces, according to a Business Standard-Knight Frank report
THE BIGGEST BFSI SUMMIT IS EVEN BIGGER NOW
The largest financial sector event in the country - the Business Standard BFSI Insight Summit - is back this year in a bigger form.
Shares of Adani Ports anchor at 5-month low
Down 5% in two days after business update for October
Markets rebound as investors cast wide net for value
In-demand financial stocks drive the rally
Global mkt: Stocks, Treasury yields gain as US votes
World stocks rose and Treasury yields rebounded on Tuesday while an index of market volatility retreated, as markets awaited early indications of the outcome of a knife-edge US election, with only currency markets showing some jitters.
Upper-teens EPS growth likely for Gland Pharma in next two financial yrs
Gland Pharma's Q2FY25 results beat muted expectations, with upper-teens EPS growth projected over the next two financial years despite a slowdown in US sales and temporary issues at its Cenexi subsidiary.
Sagility India IPO booked 22% on Day 1
The initial public offering (IPO) of Sagility India Ltd, a technology-enabled services provider in the health care space, received 22 per cent subscription on the first day of bidding on Tuesday.
Record FPI exodus throws a shadow on stock markets
Foreign investors are souring on India's stock market, selling a record amount of shares amid signs the South Asian nation's post-pandemic economic boom is losing steam.
Govt may divest 2.5% in HZL through OFS
The Centre is planning to sell 2.5 per cent of the total share capital of Hindustan Zinc Ltd (HZL) through an offer for sale (OFS) on Wednesday and Thursday for ₹505 per share.
