Bankruptcy Norms

Restoring trust in IBC must be a priority

Contents of these circulars have already been included subsequently in updated regulations issued by the IBBI

Court agrees with tribunal orders in Bhushan Steel's acquisition by Tata group firm

Earlier, the regulations only allowed the IPEs to provide support services to insolvency professionals

IBBI had invited comments from the stakeholders to suggest if parts of stressed assets could be sold off instead of as a whole

The Board is short of about Rs 21 crore to be self-sufficient and must shift from relying on the government, it says

Lenders may sign out-of-court settlements with other bankrupt companies, ARCs

Govt must step in to make necessary changes

Responding to the debate on the bill, Finance and Corporate Affairs Minister Nirmala Sitharaman said the liquidation of a company is not the sole agenda of the Insolvency and Bankruptcy Code

The arbitrary way of handling of IBC cases by RPs has led to litigation and delayed resolution of bank debt worth Rs 3 trillion, say lawyers

The government planned to notify the bankruptcy provisions last year itself

No major jurisdiction grants any preferential treatment to financial creditors in the context of right to participation or voting right in Committee of Creditors