Page 33 - Insolvency And Bankruptcy Code

ARC role in resolution may help pare NPAs to Rs 9.1 trn by March: Crisil

With the share of cash deals rising, discounts could remain high. To make way for newer acquisitions and attract new and repeat investors, ARCs must quickly resolve assets and redeem security receipts

Anil Ambani's Reliance Naval risks insolvency as banks say no to debt plan

The risk of bankruptcy reemerged for the submarine maker after it failed to come up with a repayment plan even under the RBI's relaxed norms

Forensic audits business expected to boom as RBI prepares new norms

RBI's Annual Report for FY19 says the number frauds went up by 15% to 6,801 cases

NCLAT seeks Jet lenders' response on Dutch insolvency administrator's plea

Appellate tribunal asks Jet lenders to file affidavit in a week, to next hear the case on September 4

NCLAT asks Jet lenders if they would cooperate with Dutch administrator

A three-member NCLAT bench headed by Chairman Justice S J Mukhopadhyay asked the Committee of Creditors (CoC) of Jet Airways to file an affidavit within a week in this regard

Tribunals stuck in low gear

Appeals cannot be heard as chairmen or technical members are not appointed

Cash-strapped DHFL makes fresh default on Rs 1,571-crore bond repayments

The defaults pertain to three cases with regard to interest payment on non-convertible debentures and commercial papers (CPs), DHFL said in a regulatory filing

3 years on, just 6% resolution plans accepted under IBC, says report

Of the 2,162 cases admitted under the IBC, corporate insolvency resolution process of 1,292 cases are going on

Corporate debtor needs immunity from criminal liabilities: JSW Steel MD

Seshagiri Rao pointed out a clarification on immunity to corporate debtor was required as there could be claims from other departments of govt which could eventually result in some problem

Jet Airways delays quarterly results, cites 'complexities of issues'

The affairs of Jet Airways, which closed down its operations on April 17, are now being managed by resolution professional Ashish Chhawchharia under the insolvency law

Govt panel recommends automatic CCI approval for cases under insolvency law

The Competition Law Review Committee, chaired by Corporate Affairs Secretary Injeti Srinivas, has recommended a slew of changes with respect to the Act

Liquidity crunch is impacting debt resolution plans, say lenders

One-time settlements on the decline, say lenders

Amendments to the IBC: Correcting judicial errors

The operational creditors cited the NCLAT's decision on July 4, 2019, in Standard Chartered Bank vs Satish Kumar Gupta, R P of Essar Steel

Need to improve capacity building of stakeholders, says IBBI chairman

Sahoo reiterated that there was no shortage of resolution professionals and registered valuers

Developers brace for another storm as SC gives relief to homebuyers

According to industry sources, the verdict will make things difficult for a host of developers

Will challenge IBC amendments: Essar Steel operational creditors tell SC

Supreme Court agrees to hear operational creditors on August 19, asks them to file amended applications in a week

Is IBC unfair to operational creditors?

Any decision to change the system should be based on developed theory and firm evidence

Jet Airways extends deadline for submitting initial bids to Aug 10

The last date has been extended as potential bidders sought additional time, resolution professional Ashish Chhawchharia said

RS passes IBC amendment, restores lenders' primacy in insolvency cases

The amendments give committee of creditors of a loan defaulting company explicit authority over the distribution of proceeds in the resolution process

FM to meet CEOs of PSU banks to discuss ways of increasing credit growth

According to sources, the meeting will also review progress of resolution of NPAs under Insolvency and Bankruptcy Code