Page 25 - Insolvency And Bankruptcy Code

Govt to suspend up to 1-year IBC provisions that trigger insolvency cases

The sources said an ordinance would be promulgated to suspend three sections of IBC for up to one year and a decision in this regard was taken by the Union Cabinet on Wednesday.

Focus on capital formation policy

It is vital to ensure that the clamour for suspending bankruptcy laws does not translate into reality

Flattening the bankruptcy curve: Why IBC cases may surge post-lockdown

Shroff is in favour of introducing a new chapter to the Insolvency and Bankruptcy Code (IBC) with temporary provisions

Bidders jittery over coronavirus impact on bankrupt firms, seek legal help

Seek legal advice, want force majeure clause included in new contracts

Cash-strapped DHFL not to make any payment to lenders, bondholders

The Corporate Insolvency Resolution Process (CIRP) was initiated against the debt-ridden company as per the provisions of the Insolvency and Bankruptcy Code, 2016 with effect from December 3, 2019

Dhanuka Lab implements resolution plan for debt-ridden Orchid Pharma

The resolution plan will fetch the secured lenders around 32.3% recovery

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

Coronavirus outbreak: Govt mulls suspending IBC process for 6 months

The finance minister also announced a slew of measures to provide cushion to companies on compliances.

Insolvency law a 'Swachhata drive' against non-performing asset: IBBI chief

The Code provides for a time-bound and market-linked resolution of stressed assets. If the resolution does not happen, the company concerned goes into liquidation.

Banks to add Rs 770 cr to their Q4 bottomline with JSL exit from CDR

Earlier this month, JSL announced its exit from CDR framework. The company received a letter from the consortium of CDR lenders to this effect on March 4.

A year of challenges

Bigger companies in general performed better than their smaller peers

Govt ramps up capacity of the NCLT Benches to boost decision-making

Since inception, close to 62,000 cases came to the NCLT. These include the ones which transferred from board of industrial and financial reconstruction and high courts

Raising threshold for insolvency: Good for NCLT, bad for smaller creditors

Experts are of the view that a substantial increase in threshold might affect certain sectors severely

Dealing with pandemic: Buyers, sellers need to reassess impact of COVID-19

Travel restrictions and other clampdown measures make time-critical deal-making a challenge, leading to legal and regulatory complications, say experts.

Justice S J Mukhopadhaya: 'Argumentative' outgoing NCLAT chairman

Mukhopadhaya's recent ruling restoring Cyrus Mistry as Tata Sons chairman came as a rude shock to the salt-to-software giant

Parliament passes amendments to Insolvency and Bankruptcy Code Bill

The Insolvency and Bankruptcy Code (Amendment) Bill, 2020 was passed by voice vote in Rajya Sabha. It was approved by Lok Sabha on March 6

Jet Airways lenders to seek 90-day extension for resolution process

An extension of up to 90 days may be sought from the National Company Law Tribunal

Just 10% of defaulted loans in non-major cos recovered under IBC: Ramesh

The first objective of the IBC was to save companies but with a mortality rate of 80 per cent it is not life saving, said Jairam Ramesh

Banks turn wary post IBC, tighten lending norms for labour-intensive units

RBI data shows a sharp fall in growth of outstanding loan for sectors like tea, textiles, glass and gems & jewellery

It's the incentives, stupid

The most important post-mortem required after the YES Bank crisis is about flawed incentives of bankers and officials