Page 18 - Insolvency And Bankruptcy Code

DHFL's sale poses legal hurdle for Oaktree due to insurance JV stake

Insurance sale before DHFL sale would have eliminated regulatory uncertainty, say lawyers

DHFL bidder selection: Oaktree Capital asks lenders for fair treatment

Oaktree and Piramal Group are engaged in neck and neck competition to get control of the mortgage lender, for which the selection process has entered the final stage

India's two looming challenges

Government's New Year resolutions should be to revive domestic demand while addressing the Chinese threat

Centre extends suspension of fresh insolvency cases by another 3 months

The government has again extended the suspension of fresh proceedings under the insolvency law by three more months amid the disruptions caused by the coronavirus pandemic. A notification for a three-month extension of the suspension, which was to end on December 24, was issued by the corporate affairs ministry on Tuesday. The three-month period would be from December 25. An ordinance was promulgated in June this year for suspension of fresh insolvency proceedings and the same came into force retrospectively from March 25 -- the day when the nationwide lockdown to curb spreading of coronavirus infections had come into effect. Later, a bill to replace the ordinance that had amended the Insolvency and Bankruptcy Code (IBC) was cleared by Parliament in September. Initially, the suspension of fresh proceedings under the IBC was for six months starting from March 25 and then, it was extended by three months. Now, the suspension has been further extended by three months which will end o

Best of BS Opinion: Wrong call on IBC, Paris agreement, and more

Here's a selection of Business Standard opinion pieces for the day

IBC to remain 'rightfully' suspended till FY21 end: FM Sitharaman

Suspension not applicable to defaults committed before March 25, 2020

Wrong call on IBC

Govt should not have extended suspension of bankruptcy work

Barely a week before the deadline, IBC resumption hangs in balance

The official said that while on the one hand green shoots were visible in the economy and the stock market was booming, on the other things were not moving under IBC

A year of ArcelorMittal Nippon: A 'new type of steel company' in the works

Firm claims Covid has had no long-term impact, growth plans are on track and target of reaching 12-15 million tonne output remains

More than 60% of insolvency proceedings led to liquidation in Sep quarter

Liquidations were only one-third of total cases closed in the previous quarter

Liquidations under IBC in Q2 jump, new applications remain subdued

Critics of the IBC have often pointed out that the delays in admission, resolution and liquidation might be making it an unattractive proposition

JSW Steel sees mettle in bankrupt asset amid upturn in steel market

An upturn in the steel market has prompted the country's third-largest steel producer to up the ante on acquiring Bhushan Power

Increased Parliament efficiency, but far fewer bills sent to Panels

The 16th Lok Sabha passed 15% more Bills than the previous one, he said, adding that in these five years, 60% of the passed Bills have been debated for at least 2 hours

JSW Steel sweetens offer by Rs 400 cr to close Bhushan Power deal

Proposal was made last week, payment subject to bank guarantee or indemnity from lenders, so that in case SC rejects resolution plan, settlement amount will be reversed

Top court to hear matter on insolvency of personal guarantors tomorrow

In the last hearing on Oct 29, SC had transferred to itself all petitions pending before various High Courts, challenging IBC provisions on the issue

From blacklisting norms to row over foreign award, here're top court orders

A selection of key court orders

Decoded: Unravelling the legal tangle around revised bids for DHFL

The DHFL saga has put the spotlight on the legal ambiguity in accepting bids beyond stipulated deadlines

Realisations through IBC to take a hit of up to 40% in FY21: Icra

Covid-19 outbreak, suspension of new proceedings under IBC has sharply slowed down resolution process causing realisation for financial creditors to decline

Beleaguered DHFL posts Rs 2,122-crore net loss in September quarter

The company reported revenue from operations to the tune of Rs 2,204.81 crore for Q2FY21

IBBI proposes mechanism to allow withdrawal from voluntary liquidation

The process to rescind would be the same as was followed to initiate it - approval by a special resolution, passed by members or partners