Page 11 - Latest Updates on IBC
Flaws in Today Homes IBC process, UVARC demands offer to be reconsidered
The CoC in this case comprise over 1,757 residential flat owners spread across 18 towers and 21 commercial units in Noida. No banks are creditors
 "Flaws in Today Homes IBC process, UVARC demands offer to be reconsidered")
Raising threshold for insolvency: Good for NCLT, bad for smaller creditors
Experts are of the view that a substantial increase in threshold might affect certain sectors severely
 "Raising threshold for insolvency: Good for NCLT, bad for smaller creditors")
Dealing with pandemic: Buyers, sellers need to reassess impact of COVID-19
Travel restrictions and other clampdown measures make time-critical deal-making a challenge, leading to legal and regulatory complications, say experts.
 "Dealing with pandemic: Buyers, sellers need to reassess impact of COVID-19")
Govt appoints Justice B L Bhat as officiating chairman of NCLAT
NCLAT Chairperson Justice Sudhansu Jyoti Mukhopadhaya retired on Friday
 "Govt appoints Justice B L Bhat as officiating chairman of NCLAT")
Just 10% of defaulted loans in non-major cos recovered under IBC: Ramesh
The first objective of the IBC was to save companies but with a mortality rate of 80 per cent it is not life saving, said Jairam Ramesh
 "Just 10% of defaulted loans in non-major cos recovered under IBC: Ramesh")
IBC provides new lifeline to save stressed firms from premature deaths
The Insolvency and Bankruptcy Code (IBC) provides for a time-bound and market-linked resolution of stressed assets.
 "IBC provides new lifeline to save stressed firms from premature deaths")
Lok Sabha passes Insolvency and Bankruptcy Code Bill amid noisy protests
Finance Minister Nirmala Sitharaman sought the cooperation of the members to pass the Bill in the House.
 "Lok Sabha passes Insolvency and Bankruptcy Code Bill amid noisy protests")
Realisation of 823 firms under IBC only 7% of admitted claims till January
Till January, financial creditors had recovered around 44.01 per cent
 "Realisation of 823 firms under IBC only 7% of admitted claims till January")
3 years of IBC: 7 charts offer insights into how the system has evolved
The amount recovered by financial creditors has varied, and does not show a clear improvement
 "3 years of IBC: 7 charts offer insights into how the system has evolved")
After resolution of big steel cases, banks expect low recoveries from IBC
A senior banker with a public sector bank said, not more than 30% recovery was expected from the RBI's second list
A good score-card
Increase in insolvency cases could pose challenges
 "A good score-card")
Key data that shows the progress IBC has made in saving a firm in distress
The latest data shows while the number of cases admitted to CIRP has almost doubled, so have the liquidations
 "Key data that shows the progress IBC has made in saving a firm in distress")
Govt's NPA gameplan: Rs 4 trn recovered via IBC proceedings, says Thakur
Addressing the 70th annual function of the Institute of ICAI, the junior finance minister said when Modi assumed office in 2014 in his first term, NPA stood Rs 52 trillion.
 "Govt's NPA gameplan: Rs 4 trn recovered via IBC proceedings, says Thakur")
Corporation Bank Q3 net jumps 7-fold to Rs 421cr, gross NPA at Rs 19,557 cr
Income increased to Rs 6,051.93 crore, from Rs 4,112.29 crore. On a standalone basis, the net profit increased to Rs 420.68 crore in 3rd quarter ended December 31, 2019 from Rs 60.53 crore a year ago.
 "Corporation Bank Q3 net jumps 7-fold to Rs 421cr, gross NPA at Rs 19,557 cr")
Systemic change: Hits and misses of India's bankruptcy reforms code
IBC has had a carrot-and-stick effect - making companies serious about governance and bringing stuck capital back into the economy. It seems to be a work in progress, but the system is surely working
With tweaks, June 7 circular will fly
The RBI is yet to come out with the reference date for loan accounts less than Rs 1,500 crore
Withdraw draft resolution plan of management: DHFL to stock exchanges
DHFL is now under corporate insolvency resolution process as per IBC
 "Withdraw draft resolution plan of management: DHFL to stock exchanges")
Budget 2020: Prakash Javadekar hints at 'action plan' for economic revival
Markets to open for regular trading on February 1
 "Budget 2020: Prakash Javadekar hints at 'action plan' for economic revival")
No wish for laws treating businesses with suspicion: FM Nirmala Sitharaman
This, after Tata Sons chairman said that businesses need supervision and not suspicion
 "No wish for laws treating businesses with suspicion: FM Nirmala Sitharaman")
Explained: Why lenders prefer IBC over SARFAESI Act for recovery of dues
This, despite the fact that changes in the Act which come into effect shortly give primacy to secured creditors
 "Explained: Why lenders prefer IBC over SARFAESI Act for recovery of dues")
