She was responding to a debate on the Bankruptcy and Insolvency Code (Second Amendment) bill, 2020, in Rajya Sabha, which passed proposed legislation to replace an ordinance in this regard with voice vote. “The corporate debtor often has guarantors. Therefore, for comprehensive corporate insolvency resolution and liquidation, we felt that …
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Although new cases under India’s insolvency law have been suspended for six months, lenders have the RBI’s stressed assets resolution framework released on June 7 last year to appeal, said Rajnish Kumar, chairman of the State Bank of India (SBI). In June, President Ram Nath Kovind signed an ordinance suspending …
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On Thursday, the Supreme Court dismissed the request of the State Bank of India (SBI) to request the stay of a stay granted by the Delhi High Court in bankruptcy proceedings against Reliance Communications (RCom) chairman Anil Ambani. Ambani had previously objected to SBI invoking personal guarantees under the 2019 …
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