Page 7 - Latest Updates on IBC
Why controlling CoC conduct could be a challenging task for IBBI
Experts say such a code could lead to litigation, which may affect the decision-making ability of the committee
 "Why controlling CoC conduct could be a challenging task for IBBI")
Streamline investment for insurance, pension funds in InvITs: NITI Aayog
A staggered approach should be followed for streamlining of investment guidelines and limits to keep pace with the growth in the InvIT market, it suggested
 "Streamline investment for insurance, pension funds in InvITs: NITI Aayog")
IBBI proposes amendments in liquidation norms to increase transperancy
In a bid to increase transparency in the liquidation process under the Insolvency and Bankruptcy Code (IBC), IBBI has proposed amendments to the regulations
 "IBBI proposes amendments in liquidation norms to increase transperancy")
Pre-pack resolution route needs incentives
Given that most MSMEs are informally organised, they may be averse to an insolvency resolution mechanism which displaces their founders
 "Pre-pack resolution route needs incentives")
MCA is working to issue code of conduct for creditors under IBC: Verma
This comes a month after a Parliamentary panel flagged the "disproportionately large and unsustainable 'haircuts' taken by the financial creditors over the years"
 "MCA is working to issue code of conduct for creditors under IBC: Verma")
Over 17,800 cases disposed of at pre-admission stage under IBC: Official
The IBC, which came into force in 2016, provides for a market-linked and time-bound resolution of stressed assets.
Feudalism of corporate debtors gone after IBC implementation, says CEA
With the implementation of the insolvency law, the days of feudalism of corporate debtors where they had considered it their divine right to be in control are gone: Chief Economic Adviser
 "Feudalism of corporate debtors gone after IBC implementation, says CEA")
NCLAT admits McLeod promoter appeal, to decide on constitution of CoC
On August 6, the National Company Law Tribunal (NCLT) had admitted an application filed by Techno for initiating corporate insolvency resolution process (CIRP) against McLeod.
'IBC is a road under construction,' says IBBI chairperson M S Sahoo
Referring to the pre-pack scheme of insolvency resolution for micro, small and medium enterprises (MSMEs), he says it takes three-six months for the market to understand a new framework
 "'IBC is a road under construction,' says IBBI chairperson M S Sahoo")
Siva tests IBC: NCLAT's choice between judicial wisdom & commercial wisdom
Siva Industries, a machinery part-maker, was admitted to the bankruptcy court on July 5, 2019
Get more judges: Bankruptcy logjams make India no country for dying firms
Across India, 27 bankruptcy tribunals are being run by 29 judges; at least 25 short of what's required.
 "Get more judges: Bankruptcy logjams make India no country for dying firms")
IBC reform helps insolvency professional assess avoidance transactions
Recent amendments by the Insolvency and Bankruptcy Board place the insolvency professional at the fulcrum of the resolution process.
 "IBC reform helps insolvency professional assess avoidance transactions")
CoCs need best practices code
'The delay in insolvency case resolution is another problem area where CoCs need to play a more proactive role', says the author
 "CoCs need best practices code")
Bad loans: Prevention is better than cure
In managing the bad loan problem, IBC should be the last resort for banks
 "Bad loans: Prevention is better than cure")
Siva industries' IBC proceedings: Lenders to appeal against NCLT order
The lenders plan to move the NCLAT as NCLT slammed the banks repeatedly for not voting on the one time settlement proposal made by the promoters
The unfairness of real estate bankruptcy resolution
'Real estate bankruptcy laws ought to be completely overhauled to right this egregious wrong', said the author
 "The unfairness of real estate bankruptcy resolution")
NCLT rejects Siva Industries' debt resolution under IBC, orders liquidation
Siva Industries was admitted to the bankruptcy court on July 5, 2019
 "NCLT rejects Siva Industries' debt resolution under IBC, orders liquidation")
NCLT admits application for initiating CIRP against McLeod Russel
Once the world's largest tea producer, McLeod Russel, part of the Brij Mohan Khaitan group company, is now India's largest with about 31 estates
 "NCLT admits application for initiating CIRP against McLeod Russel")
RIL-Future deal: Lenders worried over big hair-cuts, IBC option open
Retail entity's cash flows have been hit, and if the merger deal does not go through, the working of restructuring would be under strain
 "RIL-Future deal: Lenders worried over big hair-cuts, IBC option open")
Poor asset valuation, economic climate, NCLT delays see IBC losing favour
Less than 200 cases have been admitted to the National Company Law Tribunal till June after the suspension was lifted on March 24, revealed the Insolvency and Bankruptcy Board of India