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Insolvency And Bankruptcy Code
The Insolvency and Bankruptcy Code, 2016 (IBC) is an Indian law which creates a consolidated framework that governs insolvency and bankruptcy proceedings for companies, partnership firms, and individuals. Background Prior to the IBC, the legislative framework for insolvency and restructuring was fragmented across multiple legislations, such as the Companies Act 2013, the Sick Industrial Companies (Special Provisions) Act, 1985, Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the Recovery of Debts due to Banks and Financial Institutions Act (RDDBFI Act), 1993, and others. History On 22 August 2014, the Ministry of Finance created the Bankruptcy Legislative Reforms Committee (BLRC). The committee was headed by T. K. Viswanathan, and tasked with drafting a new bankruptcy law. The Committee submitted itreport which included a draft bill, on 4 November 2015. A modified version of the draft bill, after the incorporation of p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliament Of India
The Parliament of India (ISO 15919, ISO: ) is the supreme legislative body of the Government of India, Government of the Republic of India. It is a bicameralism, bicameral legislature composed of the Rajya Sabha (Council of States) and the Lok Sabha (House of the People). The president of India, President of the Republic of India, in their role as head of the legislature, has full powers to summon and prorogue either house of Parliament or to dissolve the Lok Sabha, but they can exercise these powers only upon the advice of the prime minister of India, Prime Minister of the Republic of India and the Union Council of Ministers. Those elected or nominated (by the president) to either house of the Parliament are referred to as member of Parliament (India), members of Parliament (MPs). The member of Parliament, Lok Sabha, members of parliament in the Lok Sabha are direct election, directly elected by the voting of Indian citizens in single-member districts and the member of Parliame ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Limited Liability Partnership
A limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It therefore can exhibit aspects of both partnerships and corporations. In an LLP, each partner is not responsible or liable for another partner's misconduct or negligence. This distinguishes an LLP from a traditional partnership under the UK Partnership Act 1890, in which each partner has joint (but not several) liability. In an LLP, some or all partners have a form of limited liability similar to that of the shareholders of a corporation. Depending on the jurisdiction, however, the limited liability may extend only to the negligence or misconduct of the other partners, and the partners may be personally liable for other liabilities of the firm or partners. Unlike corporate shareholders, the partners have the power to manage the business directly. In contrast, corporate shareholders must elect a board of directors under the laws of v ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insolvency Law By Country
In accounting, insolvency is the state of being unable to pay the debts, by a person or company (debtor), at maturity; those in a state of insolvency are said to be ''insolvent''. There are two forms: cash-flow insolvency and balance-sheet insolvency. Cash-flow insolvency is when a person or company has enough assets to pay what is owed, but does not have the appropriate form of payment. For example, a person may own a large house and a valuable car, but not have enough liquid assets to pay a debt when it falls due. Cash-flow insolvency can usually be resolved by negotiation. For example, the bill collector may wait until the car is sold and the debtor agrees to pay a penalty. Balance-sheet insolvency is when a person or company does not have enough assets to pay all of their debts. The person or company might enter bankruptcy, but not necessarily. Once a loss is accepted by all parties, negotiation is often able to resolve the situation without bankruptcy. A company that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Acts Of The Parliament Of India 2016
The Acts of the Apostles (, ''Práxeis Apostólōn''; ) is the fifth book of the New Testament; it tells of the founding of the Christian Church and the spread of its message to the Roman Empire. Acts and the Gospel of Luke make up a two-part work, Luke–Acts, by the same anonymous author. Traditionally, the author is believed to be Luke the Evangelist, a doctor who travelled with Paul the Apostle. It is usually dated to around 80–90 AD, although some scholars suggest 110–120 AD.Tyson, Joseph B., (April 2011)"When and Why Was the Acts of the Apostles Written?" in: The Bible and Interpretation: "...A growing number of scholars prefer a late date for the composition of Acts, i.e., c. 110–120 CE. Three factors support such a date. First, Acts seems to be unknown before the last half of the second century. Second, compelling arguments can be made that the author of Acts was acquainted with some materials written by Josephus, who completed his Antiquities of the Jews in 93 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Future Group
Future Group was an Indian conglomerate, founded by Kishore Biyani and based in Mumbai. The company was known in Indian retail and fashion sectors, operating supermarket chains Big Bazaar and Food Bazaar, lifestyle stores Brand Factory and Central, integrated foods and FMCG manufacturing sectors. Future Retail Limited and Future Lifestyle Fashions Limited were two operating companies whose assets were among the top retail companies listed in BSE, with market capitalization among the highest on the National Stock Exchange of India. Nearly all of its businesses are managed through sector-focused operating companies. The group promotes its fashion and sports brands Indigo Nation, Spalding, Lombard, and Bare, and FMCG brands Tasty Treat, Fresh & Pure, Clean Mate, Ektaa, Premium Harvest, Sach. Other operating companies address internal financial matters and consulting. The company is attempting to reduce debt to avoid insolvency, according to industry sources. History In Ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reliance Capital
Reliance Capital, a constituent of Nifty Midcap 50 and MSCI Global Small Cap Index, is a part of the Hinduja Group. It is amongst India's leading and most valuable financial services companies in the private sector. As on 31 March 2017, the net worth of the company stood at crore, while its total assets as on the date stood at crore. In Fortune India 500 list of 2018, Reliance Capital was ranked as the 77th largest corporation in India with 5th rank in 'Non-Banking Finance' category. Reliance Capital has businesses in asset management, mutual funds, life insurance and general insurance, commercial finance, home finance, stock broking, wealth management services, distribution of financial products, private equity, asset reconstruction, proprietary investments and other activities in financial services. The company operates across India and has over 20 million customers and workforce of approximately 15,595 as of 1 May 2017. Anil Ambani, promoter of Reliance Group is the Chai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dewan Housing Finance Corporation
Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited and Dewan Housing Finance Corporation Limited (DHFL)) is a non-banking financial company (NBFC–ICC) regulated by the Reserve Bank of India. It is a wholly owned subsidiary of Piramal Enterprises. The company provides retail and wholesale financial services including home loans, loan against property (LAP), MSME loans, used-vehicle financing, and corporate lending. Following the acquisition of DHFL in 2021, the company was rebranded as Piramal Capital & Housing Finance. The company was established following the acquisition of Dewan Housing Finance Corporation Ltd. (DHFL) by Piramal Capital & Housing Finance Limited (PCHFL) in September 2021. This acquisition was the first successful resolution of a financial services company under the Insolvency and Bankruptcy Code (IBC) in India. The transaction was executed through a reverse merger, wherein PCHFL merged into DHFL, and the combined entity became a wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reliance Communications
Reliance Communications Limited (RCOM) was an Indian mobile network provider headquartered in Navi Mumbai, Maharashtra that offered voice and 2G and 3G and 4G data services. In February 2019, the company filed for bankruptcy as it was unable to sell assets to repay its debt. It has an estimated debt of against assets worth . As of March 2020, the company reworked its strategy and continues to operate 4G data services, fixed-line communications, data center services, and enterprise solutions as well as subsea cable networks under the banner name, " Global Cloud Xchange". History Reliance Communications was founded in India on 15 July 2004 as Reliance Infocomm Limited with the introduction of its nationwide CDMA2000 service. It became Reliance Communications Limited in 2006. The company introduced its GSM service in 2008. It began using MIMO technology in 2011 to improve the quality of its 3G service, providing a data rate of up to 28 Mbit/s. In the 2010 spectrum au ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jet Airways
Jet Airways Limited, trading as Jet Airways, was an Indian full-service airline based in Delhi, with a training and developmental centre in Mumbai. Incorporated in April 1993 as a limited liability company, the airline began operations as an air taxi operator in 1993. It began full operations in 1995, with international flights introduced in 2004. The airline went public in 2005 and in 2007, when it acquired Air Sahara. The airline was expected to re-commence its flight operations by the end of 2024, which would have made it the first Indian airline to be revived after ceasing operations. On 7 November, 2024, the liquidation of the airline was ordered by the Supreme Court of India. It grew to be one of the largest airlines in India, with a 21.2% passenger market share in February 2016. Jet Airways operated over 300 flights daily to 74 destinations worldwide from its former main hub at Chhatrapati Shivaji Maharaj International Airport in Mumbai and secondary hubs at Chennai In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
JM Financial
JM Financial Ltd. (JMFL) is an Indian financial services group headquartered in Mumbai and has branches across India. It also has overseas branches in Ebene, Singapore, New Jersey and Dubai although almost all the group's business are domestic operations in India. History JM Financial was founded in 1973 by Mahendra Kampani and Nimesh Kampani as a spin-off from Jamnadas Morarjee Securities' investment banking arm and was originally set up as a consultancy practice. In 1986, it was incorporated as a private limited company to engage in the business of Stock-broking. In 1991, it listed on the Bombay Stock Exchange becoming a publicly listed company group and in 2006 it held a secondary listing on the National Stock Exchange of India. The group expanded into different businesses outside Stock-broking which include Asset management in 1994, Private equity in 2006, Real estate investment in 2007, Distressed Credit in 2008 and Mortgage lending in 2017. In 1999, JM Financial ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alok Industries
Alok Industries Limited, is an Indian Textile manufacturing company based in Mumbai Mumbai ( ; ), also known as Bombay ( ; its official name until 1995), is the capital city of the Indian state of Maharashtra. Mumbai is the financial capital and the most populous city proper of India with an estimated population of 12 .... It Is Owned By Reliance Industries . Alok Industries Limited has five core divisions: Home Textiles, Cotton Yarn, Apparel Fabric, Garments, Technical Textiles, Textile Accessories and Polyester Yarn. Its main business involves weaving, knitting, processing, home textiles, ready made garments and polyester yarns. It exports 26% of its products to over 90 countries in the US, Europe, South America, Asia and Africa. Alok Industries also has a majority stake in a Czech republic incorporated textile company Mileta which supply its product across Europe. The export represents 90% of the entire production. History Founded in 1986 as a private limited ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bhushan Power & Steel
::Not to be confused with Bhushan Steel, another company promoted by the same family JSW Bhushan Power & Steel Limited (JSW BPSL) formerly known as Bhushan Power & Steel Limited is a steel company that is engaged in the manufacturing and marketing of steel products. It was established in 1970. In July 2019, BPSL was allegedly involved in fraud worth ₹3805.15 crore rupees (US$535.23 million), as detected by Punjab National Bank. It is one of India's most indebted companies and appears among the 12 companies referred by the Reserve Bank of India (RBI) to a bankruptcy court for the purpose of debt resolution. History Bhushan Power & Steel was founded in 1970, incorporated in 1973 and registered with the Registrar of Companies in Delhi. The company established its facility in Chandigarh in 1973 to manufacture Tor steel and wire rod. It has 7 manufacturing facilities in India. The company was promoted by Sanjay Singal. Bhushan Power & Steel was acquired by JSW Steel in Septe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
