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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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A U.S. judge refused to block a debt payment designed to free Byju’s from an insolvency case in India, telling American lenders to take their complaints about the transaction to a court in the home country of the educational tech firm, Bloomberg News reported. Bankruptcy Judge Brendan Shannon rejected a lender request to block Riju Ravindran, brother of Byju’s founder, from paying more than $19 million to India’s governing board for cricket. A deal to clear the debt enabled Byju’s to win dismissal of an insolvency case in front of a judicial tribunal in India.
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The Insolvency and Bankruptcy Board of India (IBBI) the regulator for bankruptcy proceedings in the country has issued 15 point guidelines to the committee of creditors (COC) while deciding insolvency cases with an aim to stem value erosion by curbing procedural delays and increase co-ordination among members, the Economic Times of India reported. The guidelines asks creditors to resolve any inter-se disputes between the members, particularly in relation to claims, preferably, through dialogue, or other non-adversarial means and avoid litigation.
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India’s central bank left its policy rate unchanged, in an attempt to rein in relatively high inflation driven partly by elevated food prices, the Wall Street Journal reported. Reserve Bank of India Gov. Shaktikanta Das said Thursday that the monetary-policy committee decided to maintain its policy repo rate at 6.50%. He said that the committee will also remain focused on the withdrawal of accommodation.
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