E-PaperSarfaesi) Act News
ARC association seeks clarity from RBI on rejection of Aircel’s asset sale plan
The central bank has rejected the resolution plan submitted by UV Asset Reconstruction Co Ltd for acquiring assets of Aircel citing that the plan does not conform to Sarfaesi Act guidelinesThe reserve bank has also rejected other insolvency resolution plans submitted by UV ARC besides that for Aircel
1 min read26 Aug 2020How SC ruling on Sarfaesi Act may benefit depositors of co-operative banks
Under this Act, a lender can take possession of the property or mortgaged assets after giving the borrower a 60-day notice.In the absence of Sarfaesi Act, lenders had to resort to filing a case in civil courts, which was a lengthy procedure.
2 min read25 May 2020SC says cooperative banks on a par with other lenders under Sarfaesi Act
Sarfaesi Act lets lenders take control of assets of a borrower who fails to pay dues within 60 days of seeking paymentApex court also says cooperative banks involved in banking activities are covered u/s 5(c) & 56(a) of the Banking Regulation Act
2 min read5 May 2020IBC may go the way of Sarfaesi Act if cases are not resolved soon: Seshagiri Rao
We’re hoping the RBI will make deeper concessions in external commercial borrowing norms, says RaoRao says companies are finding it difficult to access capital both locally and overseas
3 min read30 Jan 2019IL&FS to start sale of road, power assets after 31 Oct
The board has mapped out the revival plan, right from asset sales to lenders’ haircuts
2 min read26 Oct 2018Set up e-auction platform to speed up sale of confiscated assets, govt tells state-run banks
The government has raised the minimum loan limit for filing of cases in debt recovery tribunals to ₹20 lakh from ₹10 lakh
2 min read11 Sep 2018Preserving the rescue culture within the IBC
We seem to have lost sight of the laudable objective of reviving an entity and turned phase I of the insolvency process into a bidding battleground
4 min read8 May 2018‘Pay up or we go to NCLT’ is proving to be a very credible threat
That 44% of the petitions dismissed by NCLT were either settled or withdrawn indicates that operational creditors got their dues back in a large number of cases
2 min read26 Dec 2017Maharashtra govt looks to revive at least 40 shuttered cooperative sugar mills
Maharashtra govt has formed a committee to revive defunct cooperative sugar mills, possibly by acquiring them and leasing them out to those who can turn them around
3 min read13 Sep 2017RBI has asked banks to go for periodic vulnerability test, says govt
Minister of state for finance Santosh Kumar Gangwar said the RBI has issued Cyber Security Framework in Bank to help them deal with any future cyber attacks
1 min read8 Aug 2017Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared