Page 3 - Bankruptcy Code

Bankruptcy Code of limited use for current asset woes: Moody's

Pointing to the limited legal infrastructure at hand, rating agency Moody's on Thursday said banks in India may get limited help from the new Bankruptcy Code to solve current asset quality woes.In particular, banks would still have limited avenues available to dispose of distressed assets. The lenders would, in general, remain reluctant to make appropriate haircuts to reflect their current weak operating conditions.Moody's said in press statement the bankruptcy law was credit positive for Indian banks, but challenges remained.India's new Bankruptcy Code would significantly boost the bargaining power of creditors against large debtors for the resolution of distressed assets. "The current weak legal framework for asset resolution has been a key structural credit weakness for Indian banks," said Srikanth Vadlamani, a Moody's vice-president and senior credit officer.The proposed new rules address several key inefficiencies in the current resolution regime, the rating agency said.Moody's al

Ben Merton: The elephant awakens, after a long sleep

The passage of the Bankruptcy Code could set the stage for other important legislation that may see India undergo more economic change than all governments combined since the reforms implemented by P V Narasimha Rao in 1991-93

Shamed can start afresh

The new Bankruptcy Code allows individuals to use the insolvency resolution route to relieve their financial liabilities. But secured debt, and some other commitments are excluded

Bankruptcy Code to give fillip to ease of doing biz: FinMin

Says the Bankruptcy Code will take India from among relatively weak insolvency regimes to one of the world's best insolvency regimes

Bankruptcy code: Banks to gain but down the line

The Code will consolidate the existing laws on liquidation and sick units

Passage of India's bankruptcy code will attract greater FDI: USIBC

On June 7, USIBC will welcome Prime Minister Narendra Modi as the guest of honour for its 41st Annual Leadership Summit

Rajya Sabha passes Bankruptcy Code

Law to ensure time-bound winding up of entities

'Clubbing creditors could lead to unintended consequences'

The Code appears to club secured creditors with unsecured creditors. This treatment could lead to certain unintended consequences

'The Bankruptcy Bill improves protection for blue-collar employees'

The original Bill contained a provision that required insolvency professionals to deposit a performance security at the time of their appointment

Bankruptcy Code positive financial sector reform: Nomura

Japanese financial services major says there are multiple laws dealing with insolvency in India which lead to delays

Lok Sabha clears bankruptcy code

The proposed Insolvency and Bankruptcy Code aims to slash the time it takes to wind up a company or recover dues from a defaulter

Bar bankrupts from contesting elections, recomends parliamentary panel

Currently, the Ethics Committee of the Rajya Sabha is studying whether to expel independent MP Vijay Mallya from the membership of the House

Ambitious new bankruptcy code may take years to clean up debt mess

Bankers back the new bankruptcy code, which would impose debt deadlines on failed firms.

House joint committee clears bankruptcy code

FM Arun Jaitley also said that various measures had been taken to deal with the issue of NPAs in banking sector

Can the new bankruptcy law prevent more Vijay Mallyas?

The proposed insolvency and bankruptcy code might contain some answers to India's rickety bankruptcy laws

Bhargavi Zaveri & Shivangi Tyagi: Missing pieces in the Bankruptcy Code

The move to keep the entire financial services sector out of the Code is misplaced and must be revisited