Page 35 - Insolvency And Bankruptcy Code

2 years of Insolvency and Bankruptcy Code: Resolution a distant goal

More than two years into operation, the new bankruptcy resolution framework has created opportunities, but at a heavy cost, as of now

IBC resolution plans yielded 200% liquidation value for creditors: MS Sahoo

He explained that markets regulator Sebi has exempted acquisitions under resolution plans from making public offers under the Takeover Code

Changes in IBC will allow provision for mediation to cut costs, time

Pre-packaged insolvency, individual bankruptcy mechanism also to be put in place

Will come out with fresh circular on resolution of bad loans, says RBI

The Supreme Court quashed the RBI circular of last year that pertains to the provisions for referring the defaulter to the NCLT even on a one-day overdue

Majority-control transactions up 23% in 2018 on IBC wave, fear of NCLT

On paper, majority control is owning anything beyond 50%, but it's really about getting the right team in place, shaping strategy, changing the CEO, and injecting new capital on a pro rata basis

RBI circular has one-size-fits-all approach, power firms tell SC

Top court is hearing power, sugar, shipping companies' challenge to RBI's February 12 circular which asked banks to take these firms to NCLT

Imperfect ruling on constitutionality of IBC

The repeated insistence on liquidation as a "last resort" reinforces the notion that liquidation is a bad outcome

Sebi to tighten takeover regulations for companies under IBC process

The move was aimed at reducing ambiguity and curb the misuse of the regulations

Insolvency & Bankruptcy code: Govt looking at ways to avoid frivolous bids

It is being considered whether criminal proceedings should be initiated against those not implementing resolution plans or should they be barred from bidding for other companies undergoing resolution

RBI permits bidders of insolvent companies to raise funds through ECB route

RBI said guidelines in this regard will be issued by the end of February 2019

NCLAT declines plea of Essar Steel operational creditor seeking Rs 800 cr

On Tuesday, NCLT had rejected the debt settlement proposal put forth by the shareholders of Essar Steel saying the offer violates Section 12A of the Insolvency and Bankruptcy Code

A resounding nod

Supreme Court endorses the Insolvency and Bankruptcy Code

Number of cases withdrawn under Sec 12A of IBC sees a spike in Q3 FY19

At the end of December 2018, two years after the IBC came into effect, 586 cases have been settled one way or another

SC upholds validity of Insolvency and Bankruptcy Code in its entirety

The companies like Swiss Ribbons, Shivam Water Treaters, and Ganesh Prasad Pandey, an individual petitioner, had challenged various provisions of the IBC, such as Sections 7, 12 and 29

Insolvency law had teeth. Now, it's got dentures and nobody can save it

A country that needs to sweat every investor rupee and dollar to put its swelling, restive labor force to work will continue to abuse that very thing it doesn't have enough of: capital

7 firms in a fix after bidders fail to implement resolution plan under IBC

Non-serious bidders are a cause for concern, but delays have been as much a worry for time-bound resolution of stressed assets under the IBC

How IBC changes the game

The Insolvency and Bankruptcy Code is beneficial to the extent it generates modified behaviour on the part of managers and lenders

IBC: To resolve Sec 29A, distinguish wilful defaluters from other promoters

Prospective resolution applicants should substantially establish their disassociation from the promoters who are directly responsible for the NPA

Patience with the IBC

Time to reform will be after behavioural changes

Undermining auctions

Legal loopholes in bankruptcy process exposed