Page 2 - Ibc Rules

Feudalism of corporate debtors gone after IBC implementation, says CEA

With the implementation of the insolvency law, the days of feudalism of corporate debtors where they had considered it their divine right to be in control are gone: Chief Economic Adviser

Stressed steel plants acquired via IBC seeing faster turnaround: CRISIL

The steel plants acquired via IBC process include Bhushan Steel, Essar Steel, Electrosteel Steels, Monnet Ispat & Energy Ltd and Bhushan Power & Steel

Piramal Group's resolution plan for beleaguered DHFL gets NCLT nod

Piramal's plan offers to pay Rs 37,250 crore, with upfront cash of Rs 12,700 crore.

Govt brings ordinance to introduce pre-packaged debt resolution for MSMEs

The latest move comes less than two weeks after the suspension of certain IBC provisions ended

NCLT needs clear set of protocols to flatten bankruptcy curve, say experts

Debt restructuring schemes under company law, and introduction of Code-based pre-packs are worth exploring, say experts

IBC suspended for a year, Covid-19 related debt exempted from default

The Corporate Affairs ministry will issue a special circular to define the time period which will cover "covid related debt" to be exempted from default, the finance minister said

GST compliance of companies under IBC: Gaps in the new mechanism

The gaps need to be plugged immediately if this long-standing issue has to be addressed keeping in mind the intent and objectives of IBC, 2016

Insolvency limited to concerned realty project, won't impact others: NCLAT

The appellate tribunal has also suggested that there should also be a reverse corporate insolvency process in such cases

Systemic change: Hits and misses of India's bankruptcy reforms code

IBC has had a carrot-and-stick effect - making companies serious about governance and bringing stuck capital back into the economy. It seems to be a work in progress, but the system is surely working

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

Top Headlines: India's economic growth to 'weaken', SC Maha verdict Tuesday

From DBS Bank on India's economic growth to Sena-NCP-Congress staking claim in Maharashtra, Business Standard brings you the top headlines of the day

Recovery of stressed assets improved marginally in FY19 driven by IBC: RBI

The amount involved under IBC was Rs 1.66 trillion and more than Rs 70,819 crore was recovered, with a recovery rate of 42.5%

IBC report card: In 3 years, 48% cases initiated by operational creditors

Financial creditors initiated around 1,086 cases or 43 per cent

Govt plans to amend IBC 2016 to address cross-border insolvency: MS Sahoo

When IBC came in 2016, everything was new, and there was no insolvency professional, IBBI or all members of the NCLT, everything was created afresh, but it worked, he added.

State Bank may seek RBI approval for DHFL insolvency proceedings

Banks led by SBI may make a representation to the RBI, stating the current resolution process did not find much success and they would like to opt for resolution under the IBC

Easing of IBC deadline to serve interests of public, debtor: MCA secretary

The Supreme Court has relaxed the 330-day timeline for resolving stressed assets

Challenges have made Insolvency and Bankruptcy Code stronger: IBBI chief

The code came into force in December 2016 and the first resolution case was approved in August 2017

Govt to soon unveil norms to protect winning bidders in IBC cases

Move to prevent reopening of claims, protect acquired assets

3 years on, just 6% resolution plans accepted under IBC, says report

Of the 2,162 cases admitted under the IBC, corporate insolvency resolution process of 1,292 cases are going on

Corporate debtor needs immunity from criminal liabilities: JSW Steel MD

Seshagiri Rao pointed out a clarification on immunity to corporate debtor was required as there could be claims from other departments of govt which could eventually result in some problem