Page 16 - Latest Updates on IBC
Banks' recovery improves after insolvency code, changes in Sarfaesi: Report
Efforts on the part of private banks to clean up their balance sheets through higher write-offs and better recoveries contributed to low GNPA ratios in these banks
 "Banks' recovery improves after insolvency code, changes in Sarfaesi: Report")
Two years of IBC: Here are its hits & misses, and the road ahead
1,298 cases admitted for the corporate insolvency resolution process
 "Two years of IBC: Here are its hits & misses, and the road ahead")
Right intent, wrong definition
Section 29A of the IBC needs a hard look, indeed
 "Right intent, wrong definition")
IBC's greatest feat
Two years on, it has ended the culture of impunity
IBC may need tweaks in provisions to iron out operational issues: Experts
Experts point out that the law prescribes criminal prosecution of such bidders but the company will be liquidated if a resolution plan fails
 "IBC may need tweaks in provisions to iron out operational issues: Experts")
Delays in top 12 corporate insolvency cases cost lenders Rs 40 billion
Around 241 companies were sent for liquidation under the IBC by various NCLT benches and in only 58 cases have the resolution plans been accepted by the NCLT, the IBBI data shows
 "Delays in top 12 corporate insolvency cases cost lenders Rs 40 billion")
So far, 1,198 corporates admitted under IBC, 52 cases resolved: Official
About 212 cases resulted in liquidation and 118 were closed on appeal or review
 "So far, 1,198 corporates admitted under IBC, 52 cases resolved: Official")
Sidelined by IBC, official liquidators may get to handle insolvency cases
5,000 cases in the country are pending with these official liquidators, according to ministry officials
Bankruptcy Code will deepen Indian corporate bond market: Assocham
According to the chamber, the contribution proportion of the corporate bond market to the GDP is 123% in the US and 74% in South Korea
 "Bankruptcy Code will deepen Indian corporate bond market: Assocham")
'IBC to boost investors' confidence, deepen India's corporate bond market'
The study noted that effective implementation of the IBC can help improve the recovery rate of stressed assets further
Insolvency and Bankruptcy Code enmeshed in legal action
The law laid down by the SC in a plethora of cases is that policy issues of the govt are not justiceable. The precedent laid down by the SC also cannot be violated by the apex court itself
Strengthening the IBC
SC decision to send Jaypee matter back to NCLT is welcome
Nothing called partial defaulters, IBC must apply equally to all: RBI
The Centre in its submission to the Allahabad High Court in July sought regulatory relief and time extension for close to dozen power projects with debt exposure of around Rs 1 trillion
Reinforcing IBC
More insolvency courts is a good starting point
Bankruptcy code: 701 firms face cases under CIRP, 87 to be liquidated
The resolution process of 241 stressed companies went beyond the mandatory 270 days of which 73 firms are going into liquidation
 "Bankruptcy code: 701 firms face cases under CIRP, 87 to be liquidated")
Govt ready to make further changes to IBC if needed, says official
The Code, which comes under the corporate affairs ministry, has already been amended twice
 "Govt ready to make further changes to IBC if needed, says official")
IBC process: Creditors pick Tata Steel as H1 bidder for Bhushan Power
In Tuesday's meeting, Tata Steel, JSW Steel and Liberty House were understood to have made presentations before the CoC
 "IBC process: Creditors pick Tata Steel as H1 bidder for Bhushan Power")
Financial creditors recover over Rs 470 billion in 26 cases under IBC
Corporate Affairs ministry struck off the names of about 226,166 companies from official records for being inactive and not making statutory filings for a long time, says P P Chaudhary
 "Financial creditors recover over Rs 470 billion in 26 cases under IBC")
Bankruptcy law is kick Indian firms needed to pay up: IBC chairman
India is also planning regulations on cross-border insolvency to pursue foreign assets of a defaulting company
Legal challenges could undermine IBC
The Indian Bankruptcy Code lays down the Corporate Insolvency Resolution Process to be followed in handling corporate insolvency
 "Legal challenges could undermine IBC")
