Winding up bankrupt companies: new process
This regulation mandates that, after securing approval from the Committee of Creditors (CoC) with at least 66% of the votes, the Resolution Professional (RP) must hand over the possession of real estate assets, including plots, apartments, or buildings. This must be done if the allottee has performed their part under the agreement. The RP will also need to facilitate the registration process for the allottee, making the resolution of real estate-related insolvencies more seamless. This change aims to provide better clarity and assurance to creditors involved in real estate projects and ensure that agreements are honored swiftly during the insolvency process.
New Legal Framework for auction of spectrum
The guidelines presented are designed to be more adaptable and efficient, ensuring that the distribution of spectrum is in line with modern technological and market needs. The rules mentioned in the gazette notice are intended to enhance transparency, enforce legal obligations, and foster healthy competition among the service providers.
Promoting market efficiency and liquidity: better opportunity for investors
The International Financial Services Centres Authority (IFSCA) has recently introduced a significant initiative to enhance liquidity in the bullion market through the Liquidity Enhancement Scheme (LES). This decision is aimed at boosting market efficiency and providing better opportunities for investors and market participants.
