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IBC review likely to keep promoters out

The government will examine the Insolvency and Bankruptcy Code (IBC) to stop defaulting promoters from wresting back control of companies by exploiting apparent loopholes.

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One-time-settlement a legitimate way to avoid liquidation under bankruptcy law

One-time-settlement a legitimate way to avoid liquidation under bankruptcy law
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National company law tribunalSiva industriesHoldings ltdCentral bankBankruptcy codeBibek debroy columnதேசிய நிறுவனம் சட்டம் தீர்ப்பாயம்சிவா தொழில்கள்ஹோல்டிங்ஸ் லிமிடெட்மைய வங்கிதிவால்நிலை குறியீடு

IDBI Bank settles loan with Aircel founder Siva

IDBI Bank settles loan with Aircel founder Siva © Provided by The Times of India Mumbai: IDBI Bank has said that it has accepted the one-time settlement offer by Siva Industries’s promoters a part of Aircel founder C Sivasankaran’s group as it would lose more money otherwise. IDBI Bank had initiated bankruptcy proceedings against Siva Industries in 2019. The loans were availed by a group company that later merged with Siva Industries. Sivasankaran is facing investigations by the authorities for causing a loss to banks. According to banking sources, IDBI Bank has already written to the CBI, which has confirmed that commercial dealings will not affect the criminal investigation process.

International asset reconstruction companySiva industriesUnion bankAsset reconstruction companyYes bankRoyal partnersசர்வதேச சொத்து புனரமைப்பு நிறுவனம்சிவா தொழில்கள்தொழிற்சங்கம் வங்கிசொத்து புனரமைப்பு நிறுவனம்ஆம் வங்கிஅரச கூட்டாளர்கள்

IDBI Bank settles loan with Aircel owner s company | Chennai News

C Sivasankaran is facing investigations by the authorities for causing a loss to banks CHENNAI: IDBI Bank has said that it has accepted the one-time settlement offer by Siva Industries’s promoters a part of Aircel owner C Sivasankaran’s group as it would lose more money otherwise. IDBI Bank had initiated bankruptcy proceedings against Siva Industries in 2019. The loans were availed by a group company that later merged with Siva Industries. Sivasankaran is facing investigations by the authorities for causing a loss to banks. According to banking sources, IDBI Bank has already written to the CBI, whichhas confirmed that commercial dealings will not affect the criminal investigation process. “Recovery for the bank through one-time settlement will be higher vis-a-vis recovery through NCLT liquidation based on the valuation of assets available as security.

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IDBI Bank settles loan with Aircel founder C Sivasankaran

IDBI Bank settles loan with Aircel founder C Sivasankaran SECTIONS Last Updated: May 15, 2021, 09:58 AM IST Share Synopsis According to banking sources, IDBI Bank has already written to the CBI, which has confirmed that commercial dealings will not affect the criminal investigation process. IDBI Bank had initiated bankruptcy proceedings against Siva Industries in 2019. INSIGHTS NSE Mumbai: IDBI Bank has said that it has accepted the one-time settlement offer by Siva Industries’s promoters a part of Aircel founder C Sivasankaran’s group as it would lose more money otherwise. IDBI Bank had initiated bankruptcy proceedings against Siva Industries in 2019. The loans were availed by a group company that later merged with Siva Industries. Sivasankaran is facing investigations by the authorities for causing a loss to banks.

International asset reconstruction companySiva industriesUnion bankAsset reconstruction companyYes bankRoyal partnersசர்வதேச சொத்து புனரமைப்பு நிறுவனம்சிவா தொழில்கள்தொழிற்சங்கம் வங்கிசொத்து புனரமைப்பு நிறுவனம்ஆம் வங்கிஅரச கூட்டாளர்கள்