NCLAT: Consideration of Debt Restructuring by Lenders Doesn’t Bar Member from Initiating Proceedings  ||  Delhi High Court: In Matters of Medical Evaluation, Courts Should Exercise Restraint  ||  Delhi HC: Any Person in India Has Right to Legally Import Goods from Abroad and Sell the Same  ||  Delhi HC: Waiver to Section 12(5) of Arbitration Act to be Given Once Tribunal is Constituted  ||  Supreme Court Has Asked States to Regularise Existing Court Managers  ||  SC: Union & States to Create Special POSCO Courts on Top Priority  ||  SC Upholds Authority of CERC to Award Compensation for Delays  ||  SC: Arbitral Tribunal Has Discretion to Include in Sum Awarded, Interest at Rate as it Deems Reasonab  ||  SC: Cannot Use Article 142 to Frame Guidelines on Judicial Recusal  ||  SC: Satisfaction Recorder in One EP Won’t Affect Subsequent EPs for Future Breaches    

Committee on Asset Reconstruction Companies invites views and suggestions from stakeholders- (Reserve Bank of India) (28 Apr 2021)

MANU/RPRL/0059/2021

Banking

As part of the Statement on Developmental and Regulatory Policies released along with the Monetary Policy Statement on April 7, 2021, the Reserve Bank of India had announced setting up of a Committee to undertake a comprehensive review of the working of Asset Reconstruction Companies (ARCs) in the financial sector ecosystem and recommend suitable measures for enabling such entities to meet the growing requirements of the financial sector. Accordingly, a Press Release dated April 19, 2021 has been issued regarding constitution of the Committee under the chairmanship of Shri Sudarshan Sen, former Executive Director, Reserve Bank of India.

2. The terms of reference of the Committee are as under:

i. Review of existing legal and regulatory framework applicable to ARCs and recommend measures to improve efficacy of ARCs;

ii. Review of role of ARCs in resolution of stressed assets including under Insolvency & Bankruptcy Code (IBC), 2016;

iii. Suggestions for improving liquidity in and trading of security receipts;

iv. Review of business models of the ARCs;

v. Any other matter relevant to the functioning, transparency and governance of ARCs.

The Committee invites views and suggestions on the above aspects from ARCs, market participants and other stakeholders. These may be emailed latest by May 31, 2021 to email with the subject line 'Suggestions - Committee on ARCs'.

Tags : COMMITTEE   ASSET RECONSTRUCTION COMPANIES   STAKEHOLDERS  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved