IndianBank MD&CEO says, trusts and societies should be brought under IBC
In order to take up resolution of defaulting educational institutions, PSU bank Indian Bank on Saturday has requested the Insolvency and Bankruptcy Board of India to bring trusts and societies under the IBC.
In order to take up resolution of defaulting educational institutions, PSU bank Indian Bank on Saturday has requested the Insolvency and Bankruptcy Board of India to bring trusts and societies under the IBC. Padmaja Chunduru, Managing Director and CEO participated in a workshop organised by IBBI jointly with city-based Indian Bank and she raised a concern over the delay in admission of cases and suggested that the minimum default amount of Rs 1,00,000 should be increased, among others.
1. In order to take up resolution of defaulting educational institutions, Chunduru requested IBBI to ensure that trusts and societies are brought within the ambit of the Insolvency and Bankruptcy Code (IBC).
2. IBBI Chairperson M S Sahoo said IBBI has appointed 30 new judicial members to strengthen the judiciary, besides speedy disposal of pending cases.
3. Some of the insitutions which took part in the workshop were National Companies Law Tribunal, Member-Chennai bench, BSV Prakash Kumar, Indian Bank Executive Directors, M K Bhattacharya, V Shenoy Viswanath, Bank of Maharashtra, Executive Director, A C Rout and 60 senior executives from various banks.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
IRCTC Dividend 2024: Railway PSU announces 200% interim dividend - Check record date and other details
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
11:14 AM IST