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DEBT RECOVERY LEGISLATION
Fix the ABC of IBC: Why we should re-engineer the bankruptcy code furtherThe recent litigation around Jaypee has once again unleashed a raging debate over arbitrary decision-making by financial creditors, lack of...- India’s banking system turns sluggish amid loan recovery delays and legal hurdles: CII reportIndia's banking sector needs urgent reforms. The Confederation of Indian Industry's report highlights slow loan recovery and complex laws. ...
- Insolvency law not a recovery mechanism, Supreme Court reiterates in key IBC rulingIn a landmark decision, the Supreme Court has clarified that insolvency law is not intended for the mere pursuit of debt recovery. It highl...
- IBC helped banks recover 52% bad loans: Nirmala SitharamanIndia's insolvency law has significantly boosted the banking sector. The Insolvency and Bankruptcy Code has helped rescue struggling compan...
- Drivers in this US state hit with $525 insurance fees — money taken straight from wagesLouisiana drivers experience some of the elevated reinstatement charges in the U.S. following lapses in car insurance, that ranges from fro...
- Govt contemplating changes in SARFAESI, DRT laws; to provide legal sanctity to e-noticesThe Finance Ministry has set up a panel to propose amendments to the SARFAESI and DRT Acts, aiming to expedite debt recovery. E-notices wer...
- At 61%, IL&FS recovery may beat IBC’s 39%According to C S Rajan, MD of IL&FS, the company has managed this through a combination of court-approved sales and settlements. Given that...
- Supreme Court seeks list of corporates which owe in excess of Rs 500 croreA bench comprising Chief Justice T S Thakur and Justices A M Khanwilkar and D Y Chandrachud rued the lack of infrastructure and manpower at...
- Defaulters can't be given endless opportunities, warns Arun JaitleyClose to 95,000 cases involving more than Rs 5 lakh crore are pending before debt recovery tribunals across the country.
- Lok Sabha to take up Debt Recovery Bill tomorrowGovernment has come up with this legislation at a time when there is mounting concerns over loan recovery in view of stressed assets to the...
- Parliamentary panel approves debt recovery law with changesThe panel recommended that passing of an ex-parte order after the show cause notice of 30 days of the service of summons may be a violation...
- Cabinet clears bill for speedy recovery of bad loansThe bill aims to improve ease of doing business, facilitate investment leading to higher economic growth and development, it added.
- Government drafting separate bankruptcy law for financial companies: Jayant SinhaSinha said the new law that is in the process of being drafted will help in quick winding up of stressed banks, NBFCs and microfinance inst...
- Parliamentary panel invites public comments on debt recovery lawsThe bill aims to improve ease of doing business and facilitate investment leading to higher economic growth and development.
- Government brings Bill for faster disposal of debt recovery pleasThe Bill seeks to amend provisions in as many as four legislations, including the Recovery of Debts due to Banks and Financial Institutions...
- HARCO sees Rs 400 crore crop loan recovery ahead of Panchayat pollsAs nomination process for the Panchayat elections has started, people who wish to contest elections are making beeline for getting NOC afte...
- Finmin warns banks against using strong-arm tacticsThe ministry of finance has sent an advisory to all banks against using strong-arm tactics for recovery of loans.
- Securitisation of financial assetsWith local banks getting ready to adopt Basel-II norms for risk management, the next step should be to make securitisation of assets an eff...
- Jaitley against present loan recovery systemUnion Law Minister Arun Jaitley said on Friday the existing system of creditors chasing the debtors for recovery of loans must go.
- New legislation for debt recovery on anvil: JaitleyLaw Minister Arun Jaitley said a legislation to enable financial institutions to recover debts from defaulters was on the anvil.
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