Page 6 - Ibbi

Insolvency resolution: Share of operational creditors reduces to 48% in Q2

The share of financial creditors has risen from 40 per cent to 43 per cent in the same period

Resolution of financial service providers possible under IBC: IBBI chief

Currently, resolution of stressed financial institutions cannot be taken up under the Insolvency and Bankruptcy Code (IBC).

Need to improve capacity building of stakeholders, says IBBI chairman

Sahoo reiterated that there was no shortage of resolution professionals and registered valuers

IBBI sets one-year timeline for liquidation process of insolvent companies

New regulations also say that a compromise between the stakeholders must happen within 90 days of the liquidation order

IBBI amends norms for insolvency resolution process for corporate persons

Regarding liquidation process, the amendments specify the process for sale of corporate debtor as going concern and sale of business of corporate debtor as going concern under liquidation

Dangerous to let viable cos shut down, IBC gives another chance: IBBI chief

M S Sahoo also noted that CoCs must provide all relevant information to resolution applicants so that they find interest in the companies

Insolvency rules change likely to strengthen Bankruptcy Board of India

An amendment in the IBC will clear any ambiguity regar­ding the rules on punitive action that can be taken by the regulator after an NCLT approval, sources said

Processing framework for cross-border insolvency norms, says IBBI chief

Sahoo was speaking on the sidelines of a function for distribution of certificates to the first batch of registered valuers

Are you a homebuyer waiting for refund? Here's some good news for you

Till now, only financial and operational creditors were permitted to seek claims under IBC

Building market institutions can help M&As move faster, says IBBI chief

Building the institutions of market can help the mergers and acquisitions (M&As) process to move faster, chairperson of the Insolvency and Bankruptcy Board of India (IBBI), M.S. Sahoo said at an ASSOCHAM event held in New Delhi today."We have not completely moved to market model as of now but IPO is a complete model hub market, takeover almost, I think if we can build institutions of market probably that will all help the M&As to move faster," said Sahoo while addressing an ASSOCHAM conference on M&As.Highlighting how the M&A resolution process should be in hands of market participants, he said that the Insolvency and Bankruptcy Code (IBC) has segregated the commercial aspects of insolvency from judicial aspects."The IBC has put the commercial aspects in hands of stakeholders and judicial aspects with tribunal and with all that it has put a timeline with firm consequences," added Sahoo."It says that if you do not do that in 180 days time, the company will compulsorily .

Bankruptcy regulator to review process of making rules, seeks suggestions

In a first of its kind effort by a regulator, the Insolvency and Bankruptcy Board of India (IBBI) is working on a draft regulation to regulate its own process of making regulations. Having been mandated by the statute to form advisory committees to stakeholder views, the country's newest regulator is also looking to implement a plan where a certain part of the year would be set aside for receiving public comments. "In the next two months or so, we will come out with a regulation about how to make regulations. That regulation would be in public domain. And, I am accountable whether I am following that to make my regulations," said MS Sahoo, chairman, IBBI while speaking at an international conference on New Corporate Insolvency Regime.Explaining the efforts made by the young regulator to earn credibility and win public confidence, Sahoo said, "We are thinking that whatever regulations we have we should get comments, and if there is an urgency we amend it and we will keep the door open .

Pai, Kotak head key panels on insolvency framework

Committees with a term of three years helped regulator finalise rules in record time