Page 19 - Insolvency And Bankruptcy Code
Draft pre-packaged scheme for insolvency largely based on British law
Rules to ensure that process doesn't remain debtor-driven but protects creditor's interests
 "Draft pre-packaged scheme for insolvency largely based on British law")
IBBI allows transfer of illiquid assets and debt for quicker case closure
The rules come at a time when the liquidation process takes much longer than envisaged under IBC
 "IBBI allows transfer of illiquid assets and debt for quicker case closure")
PMLA clean chit to Chanda Kochhar may help Videocon debt recast plan: Dhoot
The company's promoter Venugopal Dhoot said their application is currently pending with the Committee of Creditors, which will soon vote on their proposal
 "PMLA clean chit to Chanda Kochhar may help Videocon debt recast plan: Dhoot")
Lavasa hill city hits dirt; lenders may send company to liquidation
Lavasa, a subsidiary of construction major HCC, has defaulted on bank loans worth Rs 7,700 crore
 "Lavasa hill city hits dirt; lenders may send company to liquidation")
India Inc needs to respond to various reforms undertaken by govt, says CEA
He said that India is the only country which utilised the opportunity provided by the current crisis to unleash the second generation reforms that are focused on factor markets
 "India Inc needs to respond to various reforms undertaken by govt, says CEA")
Best of BS Opinion: J&K 'integral' reforms, insolvency process, and more
Here's a selection of Business Standard opinion pieces for the day
 "Best of BS Opinion: J&K 'integral' reforms, insolvency process, and more")
Liberty's India constraint: Reassuring lenders remains a tall order
Sanjeev Gupta acquired a burgeoning UK empire in five years; in India, he has secured a one-million-tonne plant after two years of trying
 "Liberty's India constraint: Reassuring lenders remains a tall order")
SC transfers to itself pleas challenging IBC law on personal guarantors
A three-judge Bench comprising Justices L Nageswara Rao, Hemant Gupta, and Ajay Rastogi has directed the HCs to not entertain any further writ petitions on this issue
Why some don't deserve a second chance
Last week, Videocon's Venugopal Dhoot and DHFL's Kapil Wadhawan offered to pay to pull their firms out of insolvency process
IBC rule on personal guarantees no help to promoters blaming managers
Payment of bank loans by a company is an obligation under the contract law and fraud by professionals is a criminal matter, says government official.
 "IBC rule on personal guarantees no help to promoters blaming managers")
IBBI approaches SC to club all cases on personal guarantee pending in HCs
Top court likely to give its order on Thursday, has indicated it may transfer all cases to itself, according to a senior lawyer
 "IBBI approaches SC to club all cases on personal guarantee pending in HCs")
MCA defends IBC provision on personal insolvency in Anil Ambani case
MCA is engaging with the law ministry to present the government's side of the argument
 "MCA defends IBC provision on personal insolvency in Anil Ambani case")
Jet Airways will have to reapply for slots, have 20 planes for global ops
When it shut operations, Jet Airways had close to 700 such slots pair including 116 and 214 in prime airports of Delhi and Mumbai
 "Jet Airways will have to reapply for slots, have 20 planes for global ops")
Lanco Infratech and lessons from a failed group resolution of troubled debt
The firm fundamentally has no assets, say experts. Ten of its subsidiaries are under corporate insolvency, most holding either a single or a group of road or power assets
 "Lanco Infratech and lessons from a failed group resolution of troubled debt")
Under the IBC, enforcing personal guarantee remains a tall order
Insolvency law experts say that invoking personal guarantees goes against the spirit of the IBC
 "Under the IBC, enforcing personal guarantee remains a tall order")
Little relief in sight for RCom lenders 17 months after insolvency action
Insolvency against bankrupt telecom company and two arms restarted last May after NCLAT lifted stay on proceedings; Rs 91,000 crore worth claims have been admitted against the firm.
 "Little relief in sight for RCom lenders 17 months after insolvency action")
Liberty Steel restarts production at Adhunik facility, restores 1,500 jobs
Adhunik will transition into GREENSTEEL - a model combining steel recycling with low carbon and renewable power sources - to create a more sustainable competitive operation
 "Liberty Steel restarts production at Adhunik facility, restores 1,500 jobs")
Asia defies dire predictions of a massive spike in corporate bankruptcies
Lockdowns worldwide prompted by the coronavirus outbreak have wrecked economic growth and led to bankruptcies of firms
 "Asia defies dire predictions of a massive spike in corporate bankruptcies")
Videocon insolvency case: Dhoot family offers to pay Rs 30k cr to lenders
A proposal for paying the amount has been forwarded to the Committee of Creditors (CoC) of the Videocon Industries, Venugopal Dhoot told PTI
Lenders waiting for Godot in Videocon insolvency as IBC wheels turn slow
Banks have been waiting for their dues since 2017 as the issue over naming of resolution professional and consolidation of all group firms into one resolution plan delayed the whole process
 "Lenders waiting for Godot in Videocon insolvency as IBC wheels turn slow")
