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Bank of Baroda, one of India s leading public sector banks, conducted an industry-level symposium with the theme Digital Journey in Banking - Legal and Business Challenges on 17th February, 2022. ....
Dilip Agrawal, a former councillor who was denied party ticket and is contesting as an Independent from ward 7, said he wasn’t bothered with the party’s diktat ....
âIts Success May Open It For Other Borrowersâ: Experts Welcome Pre-Packaged Insolvency Process Introduced For MSMEs IBC will emerge as an invincible tool against future defaults The Centre has promulgated the IBC Amendment Ordinance to allow a pre-packaged insolvency process for MSMEs. Experts said that if successful, the regime may be available for other corporate borrowers. L. Viswanathan, the Partner, Cyril Amarchand Mangaldas, said the government has cautiously introduced the pre-pack regime only for the MSME sector at this point in time, which is welcome. Depending on the success of the pre-pack regime for the MSME sector, one can expect this regime to be made available for other corporate borrowers , he added. ....
URL copied Govt amends insolvency law; introduces pre-packaged resolution process for MSMEs The government has amended the insolvency law to provide for a pre-packaged resolution process for micro, small and medium enterprises. An ordinance was promulgated to amend the Insolvency and Bankruptcy Code (IBC) on April 4, according to a notification. The latest move comes less than two weeks after the suspension of certain IBC provisions ended. The suspension wherein fresh insolvency proceedings were not allowed for a year starting from March 25, 2020 was implemented amid the coronavirus pandemic disrupting economic activities. As per the ordinance, it is considered necessary to urgently address the specific requirements of Micro, Small and Medium Enterprises (MSMEs) relating to the resolution of their insolvency, due to the unique nature of their businesses and simpler corporate structures. ....