Page 9 - Latest Updates on IBC
Liquidation an outcome of market forces: IBBI chairperson M S Sahoo
Sahoo was responding to the criticism that only 25 per cent of IBC cases end up in resolution while the remaining get liquidated
 "Liquidation an outcome of market forces: IBBI chairperson M S Sahoo")
Special insolvency relief framework for Covid-hit MSMEs in the works
Such firms may be allowed to opt for pre-packaged deal
 "Special insolvency relief framework for Covid-hit MSMEs in the works")
Top headlines: Apple's India plans, raw material crunch for vax maker, and more
With just about a fortnight left for the suspension on fresh corporate insolvency cases to end, government sources have indicated that another extension is unlikely
 "Top headlines: Apple's India plans, raw material crunch for vax maker, and more")
M S Sahoo explains achievements, evolution, and challenges of the IBC
IBC is an option; stakeholders may not use it even if freeze not extended, says M S Sahoo
SC appalled over arrest of court-appointed Interim Resolution Professional
Anuj Jain was appointed by the top court under the Insolvency and Bankruptcy Code (IBC) and was entrusted with the task to ensure functioning of Jaypee Infratch
 "SC appalled over arrest of court-appointed Interim Resolution Professional")
Best of BS Opinion: Fragile democracy, IBC set to resume, and more
Here's a selection of Business Standard opinion pieces for the day
 "Best of BS Opinion: Fragile democracy, IBC set to resume, and more")
100 homebuyers' nod must for IBC against realtor, says Supreme Court
The top court also clarified that a company which is facing insolvency proceedings under the IBC can move an insolvency petition against other companies which owe it money
 "100 homebuyers' nod must for IBC against realtor, says Supreme Court")
Supreme Court upholds changes in IBC to initiate case against debtor firms
Justice Joseph, who wrote the 465-page judgement for the bench, upheld the amendments made in Sections 3, 4 and 10 of the IBC (Amendment) Act 2020
 "Supreme Court upholds changes in IBC to initiate case against debtor firms")
Bad Bank: Good idea, but timing and execution being questioned
Without beefing up the regulatory framework, moral hazard may outweigh advantages, say experts
 "Bad Bank: Good idea, but timing and execution being questioned")
Dhanlaxmi Bank may appoint former SBI official J K Shivan as its MD & CEO
Sunil Gurbaxani was voted out after bitter battle with the Board
 "Dhanlaxmi Bank may appoint former SBI official J K Shivan as its MD & CEO")
Liquidations under IBC in Q2 jump, new applications remain subdued
Critics of the IBC have often pointed out that the delays in admission, resolution and liquidation might be making it an unattractive proposition
 "Liquidations under IBC in Q2 jump, new applications remain subdued")
Pre-packaged scheme, special rules for MSMEs in amendments to IBC
Changes likely to be tabled in Winter Session of Parliament
 "Pre-packaged scheme, special rules for MSMEs in amendments to IBC")
Amtek Auto's lenders invoke personal guarantee of former promoter
The issue of personal guarantee of a corporate debtor under Insolvency and Bankruptcy Code has been challenged in various high courts
 "Amtek Auto's lenders invoke personal guarantee of former promoter")
Under the IBC, enforcing personal guarantee remains a tall order
Insolvency law experts say that invoking personal guarantees goes against the spirit of the IBC
 "Under the IBC, enforcing personal guarantee remains a tall order")
Lenders waiting for Godot in Videocon insolvency as IBC wheels turn slow
Banks have been waiting for their dues since 2017 as the issue over naming of resolution professional and consolidation of all group firms into one resolution plan delayed the whole process
 "Lenders waiting for Godot in Videocon insolvency as IBC wheels turn slow")
Pause in IBC, internal issues halt takeover of stressed projects
Big developers are in wait-and-watch as leveraged developers have made use of the six-month loan moratorium, effectively avoiding defaults
 "Pause in IBC, internal issues halt takeover of stressed projects")
Partial relief for firms as govt extends IBC suspension for three months
Companies were looking for a six-month extension; suspension doesn't apply to defaults before March 25
 "Partial relief for firms as govt extends IBC suspension for three months")
Govt proposes extending suspension of new bankruptcy filings: Report
The proposal is to extend the halt on new bankruptcy cases for another six months past its currently scheduled ending point this week
 "Govt proposes extending suspension of new bankruptcy filings: Report")
IBC and SARFAESI Act confusion again as RBI takes up Aircel case
How two laws dealing with insolvent companies may work at cross-purpose at times
 "IBC and SARFAESI Act confusion again as RBI takes up Aircel case")
Videocon Industries: Between a long-drawn IBC process and a hard place
The former giant of the Indian corporate world is caught on the shoals of a long-drawn insolvency process even as lenders face the prospect of losing most of their money
 "Videocon Industries: Between a long-drawn IBC process and a hard place")
