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Page 5 - Ibbi

Six-month IBC suspension ends today, decision on extension soon

Industry is backing an extension on grounds that the economy is still reeling under negative growth

Six-month IBC suspension ends today, decision on extension soon
Updated On : 24 Sep 2020 | 2:57 AM IST

250 distressed firms rescued under insolvency law till June: IBBI chief

The Insolvency and Bankruptcy Code has been in force for four years and provides for a time-bound and market-linked resolution framework for stressed assets

250 distressed firms rescued under insolvency law till June: IBBI chief
Updated On : 17 Sep 2020 | 11:49 PM IST

Liquidation process can allow public auction of non-realisable assets: IBBI

Says if auction is not possible, the assignment--transferring the rights and obligation of an asset--may be done on arm's length basis by the liquidator

Liquidation process can allow public auction of non-realisable assets: IBBI
Updated On : 03 Sep 2020 | 12:32 AM IST

Suspension of some IBC provisions aimed at rescuing viable companies: Sahoo

IBBI said that some IBC provisions were suspended due to the Covid-19 situation and there is no complete ban or prohibition on lenders with regard to proceedings for corporate defaults

Suspension of some IBC provisions aimed at rescuing viable companies: Sahoo
Updated On : 21 Aug 2020 | 8:42 PM IST

IBBI amends rules for corporate resolution, voluntary liquidation process

"The resolution plan, which receives the highest votes, but not less than sixty-six percent of voting share, shall be considered as approved," it added

IBBI amends rules for corporate resolution, voluntary liquidation process
Updated On : 07 Aug 2020 | 11:53 PM IST

Insolvency and Bankruptcy Board amends liquidation process regulations

IBBI is a key institution in implementing the Insolvency and Bankruptcy Code (IBC), which provides for market-linked and time-bound resolution of stressed assets

Insolvency and Bankruptcy Board amends liquidation process regulations
Updated On : 06 Aug 2020 | 11:29 PM IST

Ex-DIPP secy Ramesh Abhishek hasn't applied for Sebi Chairman post: Govt

The development comes amid speculation that he is one of the top contenders for the post of Sebi chief

Ex-DIPP secy Ramesh Abhishek hasn't applied for Sebi Chairman post: Govt
Updated On : 21 Jul 2020 | 7:53 PM IST

IBBI proposes limiting number of assignments handled by IPs to check delays

The IBBI has floated a discussion paper seeking comments from the industry on this matter by July 25; Discussion paper limits maximum assignments to 5

IBBI proposes limiting number of assignments handled by IPs to check delays
Updated On : 03 Jul 2020 | 1:29 AM IST

Regulators, top govt officials meet to pull economy out of crisis

They also deliberated upon the status and developments under the IBC, and the working of credit rating agencies, the RBI said in a statement.

Regulators, top govt officials meet to pull economy out of crisis
Updated On : 19 Jun 2020 | 2:31 AM IST

Both debtors & creditors will be wary of using IBC in short term: M S Sahoo

As the banking system gears up to support businesses in face of defaults due to Covid 19, resolution of stressed assets could be the next big task for system, says M S Sahoo

Both debtors & creditors will be wary of using IBC in short term: M S Sahoo
Updated On : 04 May 2020 | 11:40 PM IST

Coronavirus lockdown: IBBI gives time-limit breather for IBC cases

The government had recently raised the threshold for default from Rs 1 lakh to Rs 1 crore to prevent triggering of insolvencies

Coronavirus lockdown: IBBI gives time-limit breather for IBC cases
Updated On : 29 Mar 2020 | 9:49 PM IST

Insolvency law a 'Swachhata drive' against non-performing asset: IBBI chief

The Code provides for a time-bound and market-linked resolution of stressed assets. If the resolution does not happen, the company concerned goes into liquidation.

Insolvency law a 'Swachhata drive' against non-performing asset: IBBI chief
Updated On : 22 Mar 2020 | 5:18 PM IST

IBC provides new lifeline to save stressed firms from premature deaths

The insolvency law provides a new lifeline for stressed companies to save them from premature death, IBBI Chairman M S Sahoo said on Friday. The Insolvency and Bankruptcy Code (IBC) provides for a time-bound and market-linked resolution of stressed assets. Speaking at an event here, Sahoo said the IBC provides a new lifeline to a company which has a value and has to be saved from premature death. Exemplifying his point, Sahoo said the average life of S&P 500 companies has reportedly come down from 90 years to 18 years over the last century. There is a kind of danger to the life of a business and at times, freedom results in unfair battles at market place, he noted. As many as 190 companies have been rescued till December 2019 through resolution plans and they owed Rs 3.8 lakh crore to creditors. The Insolvency and Bankruptcy Board of India (IBBI) is a key institution in the insolvency ecosystem.

IBC provides new lifeline to save stressed firms from premature deaths
Updated On : 06 Mar 2020 | 10:14 PM IST

Realisation of 823 firms under IBC only 7% of admitted claims till January

Till January, financial creditors had recovered around 44.01 per cent

Realisation of 823 firms under IBC only 7% of admitted claims till January
Updated On : 29 Feb 2020 | 10:55 PM IST

IBBI proposes simultaneous CoC voting on two or more resolution plans

The Insolvency and Bankruptcy Code (IBC) aims at time-bound and market-linked resolution of stressed entities

IBBI proposes simultaneous CoC voting on two or more resolution plans
Updated On : 18 Feb 2020 | 6:52 PM IST

IBBI amends voluntary liquidation norms, unclaimed dividends to go to CVLA

The Insolvency and Bankruptcy Board of India (IBBI) has notified changes to the voluntary liquidation process regulations

IBBI amends voluntary liquidation norms, unclaimed dividends to go to CVLA
Updated On : 16 Jan 2020 | 7:50 PM IST

Jio, UVARC emerge top bidders for RCom assets with bids worth Rs 21,000 cr

Delhi-based UVARC has offered to pay about Rs 16,000 crore for the spectrum, real estate, and enterprise and data centre businesses of RCom and Reliance Telecom, which houses these assets

Jio, UVARC emerge top bidders for RCom assets with bids worth Rs 21,000 cr
Updated On : 15 Jan 2020 | 3:10 AM IST

Changes in IBBI norms bar re-entry of ex-promoters in cos under liquidation

The amendment is in line with the intent of the Section 29A of Code preventing any sort of re-entry of ex-promoters

Changes in IBBI norms bar re-entry of ex-promoters in cos under liquidation
Updated On : 12 Jan 2020 | 12:06 PM IST

Disqualified parties barred from liquidation process, says IBBI

Such persons will also not be eligible to enter into any settlement or arrangement with the creditors of the insolvent company under Section 230 of the Companies Act, the IBBI has clarified

Disqualified parties barred from liquidation process, says IBBI
Updated On : 07 Jan 2020 | 9:48 PM IST

Personal insolvency beginning of a 'new learning': IBBI chief M S Sahoo

"We intend to move in a phased manner to cover insolvency of partnership and proprietorship firms and other individuals," he said.

Personal insolvency beginning of a 'new learning': IBBI chief M S Sahoo
Updated On : 01 Dec 2019 | 11:12 PM IST