The Indian real estate sector has been largely unregulated except for a few states like Maharashtra, Uttar Pradesh, Andhra Pradesh, Delhi and Karnataka. Any pro-consumer development was solely a result of judicial activism. This R
A legal question that has been put to test time and again before various courts, is whether the rights of nominees prevail over those of successors, in respect of various subjects of nomination, such R
Statutory dues, secured creditors, then unsecured creditors and finally if anything‘s left – shareholders! That‘s the traditional credit hierarchy – and it gives unsecured creditors little or no say in a recovery process.
Last week 19 banks paid RBI almost Rs 2 crore in penalties for breaking the rules while selling derivative products- remember Rajshree Sugars, Sundaram Multi-pap and dozens of companies alleging that they were mis-sold complex derivative products by banks.
It is touted as India's most successful Debt Restructuring mechanism, but recent events beg the question – Does the CDR mechanism need reinventing?