Page 26 - Insolvency And Bankruptcy Code

Lok Sabha passes Insolvency and Bankruptcy Code Bill amid noisy protests

Finance Minister Nirmala Sitharaman sought the cooperation of the members to pass the Bill in the House.

IBC provides new lifeline to save stressed firms from premature deaths

The insolvency law provides a new lifeline for stressed companies to save them from premature death, IBBI Chairman M S Sahoo said on Friday. The Insolvency and Bankruptcy Code (IBC) provides for a time-bound and market-linked resolution of stressed assets. Speaking at an event here, Sahoo said the IBC provides a new lifeline to a company which has a value and has to be saved from premature death. Exemplifying his point, Sahoo said the average life of S&P 500 companies has reportedly come down from 90 years to 18 years over the last century. There is a kind of danger to the life of a business and at times, freedom results in unfair battles at market place, he noted. As many as 190 companies have been rescued till December 2019 through resolution plans and they owed Rs 3.8 lakh crore to creditors. The Insolvency and Bankruptcy Board of India (IBBI) is a key institution in the insolvency ecosystem.

'Earlier govts favorable to defaulting industrialists, IBC changed culture'

Justice Ramana said that despite selling the properties of the company and passing a winding-up order, only 5 to 10 percent of the investment could be realised

SBI board allows RCom resolution plan, lenders to get Rs 23,000 cr: Report

RCom's secured debt is estimated to be around Rs 33,000 crore

NBCC gets NCLT nod to acquire Jaypee Infratech through insolvency process

In its hearing on Tuesday, the Principal bench of NCLT,headed by Acting President B S V Prakash Kumar, gave a go-ahead to the resolution plan of NBCC

Realisation of 823 firms under IBC only 7% of admitted claims till January

Till January, financial creditors had recovered around 44.01 per cent

3 years of IBC: 7 charts offer insights into how the system has evolved

The amount recovered by financial creditors has varied, and does not show a clear improvement

After resolution of big steel cases, banks expect low recoveries from IBC

A senior banker with a public sector bank said, not more than 30% recovery was expected from the RBI's second list

DHFL's pre-tax loss narrows sequentially to Rs 167.80 crore in Q3

The company reported a net profit of Rs 934.35 crore in Q3FY20 due to tax adjustments; no provision for interest on borrowings post insolvency proceedings

Bhushan Power acquisition: JSW Steel likely to pay Rs 19,700 cr by March 15

On Feb 17, NCLAT had permitted JSW Steel to acquire the bankrupt company and granted it immunity from prosecution by the Enforcement Directorate

A good score-card

Increase in insolvency cases could pose challenges

IBBI proposes simultaneous CoC voting on two or more resolution plans

The Insolvency and Bankruptcy Code (IBC) aims at time-bound and market-linked resolution of stressed entities

Reverse CIRP: It is too early for realtors facing insolvency to cheer

The NCLAT judgment gives the promoter another chance to complete the pending project, and hand over the delivery of flats to homebuyers through a tribunal-monitored process

AGR order: Are you a Voda Idea customer? Key things you should know

If firm files for bankruptcy, rules say its daily functions will continue till sale

NCLT orders inclusion of Videocon's overseas assets in insolvency

Videocon was in the first list of the 12 largest accounts that the Reserve Bank of India referred for bankruptcy in late 2016

Key data that shows the progress IBC has made in saving a firm in distress

The latest data shows while the number of cases admitted to CIRP has almost doubled, so have the liquidations

Insolvency limited to concerned realty project, won't impact others: NCLAT

The appellate tribunal has also suggested that there should also be a reverse corporate insolvency process in such cases

Govt's NPA gameplan: Rs 4 trn recovered via IBC proceedings, says Thakur

Addressing the 70th annual function of the Institute of ICAI, the junior finance minister said when Modi assumed office in 2014 in his first term, NPA stood Rs 52 trillion.

Systemic change: Hits and misses of India's bankruptcy reforms code

IBC has had a carrot-and-stick effect - making companies serious about governance and bringing stuck capital back into the economy. It seems to be a work in progress, but the system is surely working

IBC process needs to speed up; private investment may remain muted

According to the Survey, resolution under IBC has been much higher as compared to other processes.