Section 9 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (“SARFAESI”) provides for “Measures for Asset Reconstruction”. Pursuant to the provisions of the Section 9 of SARFAESI, an Asset Reconstruction Company (“ARC”) while complying with the guidelines issued by Reserve Bank of India (“RBI&rdqu......

Action speaks louder than the words and this is what Reliance Anil Dhirubhai Ambani Group under the leadership of one of the prominent Indian business tycoon Mr. Mukesh Ambani has demonstrated even when the Indian economy witnessed the most unprecedented time in its history. Reliance Jio, a business conglomerate that has set a remarkable benchmark of corporate governance, compliances and dist......

Limited Insolvency Examination (LIE) is conducted by IBBI. At present there is no bar on anyone to appear for LIE. Any student or professional can appear for LIE. However if anyone wish to enrol as an Insolvency Professional and have requisite experience as prescribed under IBBI (Insolvency Professionals) Regulations, 206 then enrolment has to be done with the Insolvency Professional Agency within......

INTRODUCTION   In India, companies generally expand their business (vertically or horizontally) either by incorporating their associates companies or subsidiary companies within national or international territories. This outcomes in prevalence of a business group or a conglomerate of which multiple companies are a part and accordingly their assets and liabilities are spread across differen......

Prudential Framework For Resolution Of Stressed Assets   Reserve Bank of India (“RBI”) Circular dated 7th June 2019 on “Prudential Framework for Resolution of Stressed Assets” provides that if principal or interest payment or any other amount wholly or partly in respect of a loan is overdue between 1 to 30 days, 31 to 60 days and 61 to 90 days then borrower’s a......