Page 23 - Insolvency And Bankruptcy Code

IL&FS expects to address over Rs 50,000 cr of its debt by March 2021

The group has shared its estimates of debt to be addressed over the next three quarters

NCLT closes insolvency proceedings against V2 Retail after settlement

The NCLT approved the settlement after it perused the averments made in the application, as well as the settlement agreement enclosed with the application and IRP received his expenses

NCLAT upholds NCLT order to initiate insolvency proceedings against HDIL

"In view of our finding as aforesaid, no interference is called for against the impugned Order dated August 20, 2019. Therefore, Appeal fails," said the NCLAT bench

IBBI proposes limiting number of assignments handled by IPs to check delays

The IBBI has floated a discussion paper seeking comments from the industry on this matter by July 25; Discussion paper limits maximum assignments to 5

JSW Steel-Bhushan Power buy may hit Enforcement Directorate hurdle

There is no power conferred upon the NCLAT under the Insolvency and Bankruptcy Code (IBC) to interfere with a provisional attachment order, ED said.

Reliance Naval gets five EoIs from investors, deadline ends Saturday

The US-based fund, Interups, has submitted the EoI, apart from Arcil, APM of Denmark, United Shipbuilding Corp of Russia, and Next Orbit Ventures

I-T exemption on buying shares at lower price in firms under insolvency

The CBDT has exempted from income tax the purchase of shares at rates lower than the market price in companies undergoing insolvency proceedings and whose board has been taken over by the government

NCLT reserves order on SBI plea to recover Rs 1,200 cr from Anil Ambani

In early 2019, Reliance Communications, once the flagship company of the Anil Ambani-led Reliance group, had filed for bankruptcy

Creditors move NCLT; seek bigger claim in Vasan Health Care insolvency case

The petition was filed by some of the creditors, mainly private financiers, seeking more amount of claim to be accepted by the Resolution Professional as part of the process

Low number of free-float pushes Ruchi Soya Industries to record high

The edible oil maker's market capitalisation is up nearly 300 times since the beginning of November last year and 70 times since its acquisition by Pantanjali Ayurved under the IBC

Regulators, top govt officials meet to pull economy out of crisis

They also deliberated upon the status and developments under the IBC, and the working of credit rating agencies, the RBI said in a statement.

After MSMEs, let's focus on large stressed sectors

The Rs 3-trillion booster dose may help bring MSMEs back on the rails but to whom will they supply goods? It's time to take a look at companies with enough assets but strained cash flows

Supreme Court to hear case on adjusted gross revenue on Thursday

A bench headed by Justice Arun Mishra will hear the matter tomorrow

IBC suspension will fuel innovative options outside the Code: IBBI's Sahoo

In a Q&A, the chairman of the Insolvency and Bankruptcy Board of India says IBC should not be used to snuff out firms prematurely

IBC suspension during Covid-19 will give firms breathing space: Experts

As per the Ordinance, the corporate insolvency resolution process cannot be initiated against a company under the IBC for defaults arising on or after March 25, 2020, for a period of six months

Saving viable cos more important than liquidating unviable ones: IBBI chief

MS Sahoo backed the decision to bring in the IBC amendment ordinance to suspend triggering of corporate insolvency resolutions against cos for any default for at least six months, starting March 25

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

Suspension of IBC: Spotlight now on schemes under the Companies Act

In view of the suspension of the IBC, the government must create an alternative framework. It is the need of the hour

Preserve the IBC

Suspension should not result in unintended consequences

Covid to drag down recoveries from stressed assets by 40% in FY21: Icra

Suspension of new IBC action to impact resolution; lenders may also have to take bigger haircuts