Page 20 - Insolvency And Bankruptcy Code

Losing momentum: Three years on, Amtek Auto still awaits IBC resolution

After an encouraging start, the IBC, launched by the Modi government in 2016, is losing momentum. The first of a 5-part series looks at Amtek Auto's resolution process

Adani, Piramal, Oaktree and SC Lowy submit bids for troubled DHFL

Oaktree bids for entire company, Piramal for retail loan book

Explained: How Uttam Galva Steels lost its sheen amid mounting debts

The promoter group's deal-making capabilities have come back to haunt it

DHFL lenders brace for haircut after foreign bidders back out of race

Only two firms in race for retail, wholesale, and slum rehabilitation authority portfolio

Falling out of favour: Consultancies and law firms suggest IBC revamp

Investors feel IBC's promised twin benefits - a time-bound process and assurance of a clean slate - don't necessarily come through

Trio of women lawyers push for change in India's creaking legal corridors

The three women represent a visible change in the country's legal landscape but they are also reminders of how much more needs to change in this nation of 1.3 billion

DHFL case: Auditor reports fraudulent transactions worth Rs 2,150 crore

DHFL is undergoing resolution process under the Insolvency and Bankruptcy Code

Lenders to consider Videocon promoters' application for debt resolution

If the lenders agree to the proposal made by VIL's promoters, then it will be one of the first big ticket debt resolution by the lenders via Section 12A of the IBC

Need restructuring, not bankruptcy

Most stressed lenders should go into restructuring with the IBC being its bedrock

Pause in IBC, internal issues halt takeover of stressed projects

Big developers are in wait-and-watch as leveraged developers have made use of the six-month loan moratorium, effectively avoiding defaults

Successful resolution applicants cannot be allowed to withdraw offer: NCLAT

A three-member NCLAT bench said the sanctity of resolution process has to be maintained and such withdrawal by a successful bidder "frustrate" the entire exercise of CIRP

With IBC, non-repayment of loan no more an option: CAG Murmu

The insolvency law has led to a significant behavioural shift among borrowers as non-repayment of loan is no more an option and ownership of a firm is no more a divine right, Comptroller & Auditor General of India G C Murmu said on Thursday. According to him, this behavioural shift has resulted in substantial recoveries for creditors outside the Insolvency and Bankruptcy Code (IBC) and improved the performance of firms. Delivering 'IBC: Adaptability is the key to Sustaining Reforms in the Times of a Pandemic' lecture on the occasion of the fourth annual day of the Insolvency & Bankruptcy Board of India (IBBI), Murmu said one of the most remarkable achievements of the Code was that it has led to a significant behavioural change among the debtors and creditors alike. "It is further motivating them to make the best efforts to avoid default. Further, it encourages the debtor to settle default with the creditors at the earliest, preferably outside the Code. With the Code in place, .

Top headlines: All acquitted in Babri case, Apr-Aug fiscal deficit overruns

From special court acquitting all accused in Babri demolition case to General Atlantic investing in Reliance Retail, Business Standard brings you top news of the evening

Partial relief for firms as govt extends IBC suspension for three months

Companies were looking for a six-month extension; suspension doesn't apply to defaults before March 25

NCLAT sets aside NCLT order rejecting insolvency plea against Coastal Oil

The NCLAT''s direction came over a petition filed by Bank of India and Central Bank of India, challenging the NCLT order

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

NCLT to send Samay Electronics case to 3rd member after split verdict

The two-member Ahmedabad bench of the National Company Law Tribunal (NCLT) had delivered the split verdict on February 26, 2020

Stressed funds set to make beeline for India on spike in Covid-driven NPAs

Bankers expect bad debt worth $35 bn to be up for grabs, in addition to $110 bn already in the system; Blackrock, SBI Cap, Brookfield eyeing stressed assets

Parliament approves changes in IBC to protect Covid-stressed firms

Replying to a debate on the bill in the Lok Sabha, Finance Minister Nirmala Sitharaman said the amendments would provide relief to companies reeling under the impact of the coronavirus pandemic

Insolvency against corp debtors, personal guarantors can go together: FM

Finance Minister Nirmala Sitharaman on Saturday said law provides for carrying out insolvency and bankruptcy proceedings against corporate debtors as well personal guarantors together