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Now, another tool for SBI to resolve stress - The Hindu BusinessLine


Now, another tool for SBI to resolve stress
May 09, 2021
Bank pursuing board approval for policy framework on pre-packs, says MD
State Bank of India sees the recently-introduced pre-packaged insolvency resolution process (PPIRP) for MSME corporates as another good tool in its armoury for resolving stress.
Swaminathan Janakiraman, Managing Director (Risk, Compliance and Stressed Assets Resolution Group (SARG), SBI, told
BusinessLine that the bank was putting together a policy framework for the same.
“We are putting together a board-approved policy framework for implementation of pre-pack among our MSME corporate customers. Over the next 4-6 weeks, we will start implementation and much would depend on how the ongoing second wave of Covid-19 plays out,” said Janakiraman. He made it clear that SBI would like to have multiple tools for resolving stress and that PPIRP cannot be a one-size fits all solution for the bank. ....

Ashok Haldia , Swaminathan Janakiraman , Assets Resolution Group , Indian Institute Of Insolvency Professionals , State Bank , Managing Director , Stressed Assets Resolution Group , Bankruptcy Code , Corporate Insolvency Resolution Process , Indian Institute , Insolvency Professionals , அசோக் ஹால்டியா , சுவாமிநாதன் ஜனகிராமன் , சொத்துக்கள் தீர்மானம் குழு , இந்தியன் நிறுவனம் ஆஃப் நொடித்துப்போனது ப்ரொஃபெஶநல்ஸ் , நிலை வங்கி , நிர்வகித்தல் இயக்குனர் , வலியுறுத்தப்பட்டது சொத்துக்கள் தீர்மானம் குழு , திவால்நிலை குறியீடு , பெருநிறுவன நொடித்துப்போனது தீர்மானம் ப்ரோஸெஸ் , இந்தியன் நிறுவனம் , நொடித்துப்போனது ப்ரொஃபெஶநல்ஸ் ,

ICAI proposes to continue relaxation on lease accounting - The Hindu BusinessLine


ICAI proposes to continue relaxation on lease accounting
K.R.Srivats
New Delhi |
Updated on
April 12, 2021
Lease modification requires re-computation of lease liability using discount rate   -  istock.com/cnythzl×
Move will bring respite to airlines, multiplexes, hotels
With Covid-19 continuing to wreak havoc on the Indian economy, the CA Institute proposed to extend by one year the validity of an existing pandemic induced accounting relief on ‘leases’, bringing some respite especially for players in airlines, retail, multiplexes, hotel and telecom sectors.
If and when approved, the lessees can account for the rent concessions (rent holiday, rent reductions) that they may receive from lessors during the pandemic as if they are not lease modifications for another one year from June 30, say accounting experts. The ICAI which had issued an exposure draft for the proposed change in Ind AS 116 (leases) that became mandatory from April 1, 2019 is ....

Sandip Khetan , Ashok Haldia , National Leader , Financial Accounting Advisory Services , International Accounting Standards Board , International Accounting Standards , Cca Institute , Co Vid , சண்டீப் கேட்டான் , அசோக் ஹால்டியா , தேசிய தலைவர் , சர்வதேச கணக்குவைப்பு முறை தரநிலைகள் பலகை , சர்வதேச கணக்குவைப்பு முறை தரநிலைகள் , சிஏ நிறுவனம் , இணை வித் , கணக்குவைப்பு முறை ,