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Insolvency And Bankruptcy Code, 2016
The Insolvency and Bankruptcy Code, 2016 (IBC) is an Indian law which creates a consolidated framework that governs insolvency and bankruptcy proceedings for companies, partnership firms, and individuals. Background Prior to the IBC, the legislative framework for insolvency and restructuring was fragmented across multiple legislations, such as the Companies Act 2013, the Sick Industrial Companies (Special Provisions) Act, 1985, Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the Recovery of Debts due to Banks and Financial Institutions Act (RDDBFI Act), 1993, and others. History On 22 August 2014, the Ministry of Finance created the Bankruptcy Legislative Reforms Committee (BLRC). The committee was headed by T. K. Viswanathan, and tasked with drafting a new bankruptcy law. The Committee submitted itreport which included a draft bill, on 4 November 2015. A modified version of the draft bill, after the incorporation of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliament Of India
The Parliament of India (International Alphabet of Sanskrit Transliteration, IAST: ) is the supreme legislative body of the Republic of India. It is a bicameralism, bicameral legislature composed of the president of India and two houses: the Rajya Sabha (Council of States) and the Lok Sabha (House of the People). The president in his role as head of the legislature has full powers to summon and prorogue either house of Parliament or to dissolve the Lok Sabha. The president can exercise these powers only upon the advice of the prime minister of India, prime minister and his Union Council of Ministers. Those elected or nominated (by the president) to either house of Parliament are referred to as member of Parliament (India), members of Parliament (MPs). The member of Parliament, Lok Sabha, members of parliament of the Lok Sabha are direct election, directly elected by the Indian public voting in single-member districts and the member of Parliament, Rajya Sabha, members of parliam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Limited Liability Partnership
A limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It therefore can exhibit elements of partnerships and corporations. In an LLP, each partner is not responsible or liable for another partner's misconduct or negligence. This distinguishes an LLP from a traditional partnership under the UK Partnership Act 1890, in which each partner has joint (but not several) liability. In an LLP, some or all partners have a form of limited liability similar to that of the shareholders of a corporation. Unlike corporate shareholders, the partners have the power to manage the business directly. In contrast, corporate shareholders must elect a board of directors under the laws of various state charters. The board organizes itself (also under the laws of the various state charters) and hires corporate officers who then have as "corporate" individuals the legal responsibility to manage the corporation in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insolvency Law By Country
In accounting, insolvency is the state of being unable to pay the debts, by a Natural person, person or company (debtor), at Maturity (finance), maturity; those in a state of insolvency are said to be ''insolvent''. There are two forms: Cash flow, cash-flow insolvency and Balance sheet, balance-sheet insolvency. Cash-flow insolvency is when a person or company has enough assets to pay what is owed, but does not have the appropriate form of payment. For example, a person may own a large house and a valuable car, but not have enough Market liquidity, liquid assets to pay a debt when it falls due. Cash-flow insolvency can usually be resolved by negotiation. For example, the bill collector may wait until the car is sold and the debtor agrees to pay a penalty. Balance-sheet insolvency is when a person or company does not have enough assets to pay all of their debts. The person or company might enter bankruptcy, but not necessarily. Once a loss is accepted by all parties, negotiati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Acts Of The Parliament Of India 2016
The Acts of the Apostles ( grc-koi, Πράξεις Ἀποστόλων, ''Práxeis Apostólōn''; la, Actūs Apostolōrum) is the fifth book of the New Testament; it tells of the founding of the Christian Church and the spread of its message to the Roman Empire. It gives an account of the ministry and activity of Christ's apostles in Jerusalem and other regions, after Christ's death, resurrection, and ascension. Acts and the Gospel of Luke make up a two-part work, Luke–Acts, by the same anonymous author. It is usually dated to around 80–90 AD, although some scholars suggest 90–110. The first part, the Gospel of Luke, tells how God fulfilled his plan for the world's salvation through the life, death, and resurrection of Jesus of Nazareth. Acts continues the story of Christianity in the 1st century, beginning with the ascension of Jesus to Heaven. The early chapters, set in Jerusalem, describe the Day of Pentecost (the coming of the Holy Spirit) and the growth of the chur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Future Group
Future Group is an Indian conglomerate, founded by Kishore Biyani and based in Mumbai. The company is known in Indian retail and fashion sectors, operating supermarket chains Big Bazaar and Food Bazaar, lifestyle stores Brand Factory and Central, integrated foods and FMCG manufacturing sectors. Future Retail Limited and Future Lifestyle Fashions Limited are two operating companies whose assets are among the top retail companies listed in BSE, with market capitalization among the highest on the National Stock Exchange of India. Nearly all of its businesses are managed through sector-focused operating companies. The group promotes its fashion and sports brands Indigo Nation, Spalding, Lombard, and Bare, and FMCG brands Tasty Treat, Fresh & Pure, Clean Mate, Ektaa, Premium Harvest, Sach. Other operating companies address internal financial matters and consulting. The company is attempting to reduce debt to avoid insolvency, according to industry sources. History In May 2012, F ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reliance Capital
Reliance Capital Limited is an Indian diversified financial services holding company promoted by Reliance Anil Dhirubhai Ambani Group. Reliance Capital, a constituent of Nifty Midcap 50 and MSCI Global Small Cap Index, is a part of the Reliance Group. It is amongst India's leading and most valuable financial services companies in the private sector. As on 31 March 2017, the net worth of the company stood at Rs 16,548 crore, while its total assets as on the date stood at Rs 82,209 crore. In Fortune India 500 list of 2018, Reliance Capital was ranked as the 77th largest corporation in India with 5th rank in 'Non-Banking Finance' category. Reliance Capital has businesses in asset management, mutual funds, life insurance and general insurance, commercial finance, home finance, stock broking, wealth management services, distribution of financial products, private equity, asset reconstruction, proprietary investments and other activities in financial services. The company operates acr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dewan Housing Finance Corporation
Piramal Capital and Housing Finance Limited (earlier Dewan Housing Finance Corporation Ltd. (DHFL)) is a non-deposit taking housing finance company, headquartered in Mumbai with branches in major cities across India. DHFL was established to enable access to economical housing finance to the lower and middle income groups in semi-urban and rural parts of India. DHFL is the second housing finance company to be established in the country. The company also leases commercial and residential premises. DHFL is among the 50 biggest financial companies in India. DHFL is rated ICRA D by ICRA Limited. History DHFL was established and incorporated by Rajesh Kumar Wadhawan on 11 April 1984. The name of the company was changed to Dewan Housing Development Finance Ltd. and later to Dewan Housing Finance Corporation. In 2010, DHFL acquired Deutsche Postbank, Deutsche Postbank Home Finance unit for ₹1079 crores. On 18 December 2013, DHFL acquired 74% stake DHFL Pramerica Life Insurance Com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reliance Communications
Reliance Communications Limited (RCOM) was an Indian mobile network provider headquartered in Navi Mumbai that offered voice and 2G and 3G and 4G data services. In February 2019, the company filed for bankruptcy as it was unable to sell assets to repay its debt. It has an estimated debt of against assets worth . As of March 2020, the company reworked its strategy and continues to operate 4G data services, fixed-line communications, data center services, and enterprise solutions as well as subsea cable networks under the banner name, " Global Cloud Xchange". History Reliance Communications was founded in India on 15 July 2004 as Reliance Infocomm Limited with the introduction of its nationwide CDMA2000 service. It became Reliance Communications Limited in 2006. The company introduced its GSM service in 2008. It began using MIMO technology in 2011 to improve the quality of its 3G service, providing a data rate of up to 28 Mbit/s. In the 2010 spectrum auction, Reliance obt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jet Airways
Jet Airways (India) Ltd is an Indian airline based in Delhi NCR, with a training and developmental center in Mumbai. Incorporated in April 1992 as a limited liability company, the airline began operations as an air taxi operator in 1993. It began full-fledged operations in 1995 with international flights added in 2004. The airline went public in 2005 and in 2007, when it acquired Air Sahara. Before the founding of Vistara in 2015, it was the only full-service airline based in India apart from Air India. The airline is expected to re-commence its flight operations by the end of 2022, making it the first Indian airline to be revived after ceasing operations. It grew to be one of the largest airlines in India, with a 21.2% passenger market share in February 2016. It operated over 300 flights daily to 74 destinations worldwide from its erstwhile main hub at Chhatrapati Shivaji Maharaj International Airport in Mumbai and secondary hubs at Chennai International Airport in Chennai, I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
JM Financial
JM Financial (JMFL) is an Indian financial services group headquartered in Mumbai and has branches across India. It also has overseas branches in Ebene, Singapore, New Jersey and Dubai although almost all the group's business are domestic operations in India. History JM Financial was founded in 1973 by Nimesh Kampani and was originally set up as a consultancy practice. In 1986, it was incorporated as an private limited company to engage in the business of Stock-broking. In 1991, it listed on the Bombay Stock Exchange becoming a publicly listed company group and in 2006 it held a secondary listing on the National Stock Exchange of India. The group expanded into different businesses outside Stock-broking which include Asset Management in 1994, Private Equity in 2006, Real Estate investment in 2007, Distressed Credit in 2008 and Mortgage lending in 2017. In 1999, JM Financial and Morgan Stanley set up a Joint Venture in India named JM Morgan Stanley. In February 2007, Morgan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alok Industries
Alok Industries Ltd, is an Indian Textile manufacturing company based in Mumbai, India. with integration in both the streams, in cotton as well as polyester value chain. ISO 9001:2000 certified company. The company has created global sized capacities and expanded its markets across the global territories. Its main business involves weaving, knitting, processing, home textiles, ready made garments and polyester yarns. It exports 26% of its products to over 90 countries in the US, Europe, South America, Asia and Africa.http://www.bseindia.com/bseplus/AnnualReport/521070/5210700913.pdf History It was established in 1986. In 1989, the company set up its first polyester texturising plant. The company became public in 1993 and was listed on Bombay Stock Exchange and National Stock Exchange of India with an IPO of Rs. 4.5 Cr. The company Grabal Alok Impex Limited was amalgamated with Alok Industries on 1 April 1996. Retail Alok Industries has shutdown all its direct retail stores. Ho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bhushan Power & Steel
Bhushan Power & Steel Limited (BPSL) is a steel company that is engaged in the manufacturing and marketing of steel products. It was established in 1970. In July 2019, BPSL was allegedly involved in fraud worth ₹3805.15 crore rupees (US$535.23 million), as detected by Punjab National Bank. It is one of India's most indebted companies and appears among the 12 companies referred by the Reserve Bank of India (RBI) to a bankruptcy court for the purpose of debt resolution. History Bhushan Power & Steel was founded in 1970, incorporated in 1999 and registered with the Registrar of Companies in Delhi. The company established its facility in Chandigarh in 1973 to manufacture Tor steel and wire rod. It has 7 manufacturing facilities in India. The company was promoted by Sanjay Singal. Bhushan Power & Steel was acquired by JSW Steel in September 2019. JSW Steel's offer of Rs. 19,700 crores was approved by NCLT. The Enforcement Directorate (ED) had attached assets worth Rs 4,025 cror ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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