Archive for year: 2018
FAQs on Submission of Claims under Liquidation
/0 Comments/in Insolvency and Bankruptcy /by Vinod Kothari ConsultantsRBI discontinues LoUs and LoCs
/0 Comments/in Banking Regulations, Financial Services /by Vinod Kothari ConsultantsSeems to be running ‘the Great Sparrow Campaign’
Vallari Dubey & Nikhil Jain
The Reserve Bank of India (RBI) via a Notification dated March 13, 2018[1] has discontinued the use of Letters of Undertaking (LoUs) and Letters of Comfort (LoCs) for Trade Credits with immediate effect. Read more →
Contradictory Order of NCLAT on Applicability of Moratorium on Guarantor’s Assets
/0 Comments/in Insolvency and Bankruptcy /by Vinod Kothari ConsultantsInclusion of assets taken on lease in the liquidation estate of the lessee
/0 Comments/in Insolvency and Bankruptcy /by Vinod Kothari ConsultantsNicco Corporation’s liquidation: Lenders, workmen may have to accept huge haircut on claims/0 Comments/in Uncategorized /by Vinod Kothari Consultants
The reserve price for Nicco Corporation’s liquidation exercise has been pegged at Rs 232 crore, which is about 62 per cent of the company’s total dues admitted by the liquidator. This simply means the lenders and workmen – the second tier of the payment waterfall under any liquidation – will have to accept substantial haircut on their claims. Read more
