India made the biggest tax system reform in its history when it transitioned to the goods and service tax (GST) regime on Friday night. This is not only a change in the tax system, but this will also usher a …
Provisioning norms: Bankers fear tough norms will harm ability to find buyers at a good price
MUMBAI: Banks are set to lobby with the Reserve Bank of India to scale down the strict provisioning norms announced by the regulator last week for accounts referred to the country’s bankruptcy courts. Bankers fear that such high provisioning will …
Operational creditors first in line to use bankruptcy code
Operational creditors have taken the lead in using the new bankruptcy code in the National Company Law Tribunal. Operational creditors have taken the lead in using the new bankruptcy code in the National Company Law Tribunal (NCLT) while banks have …