Page 7 - Insolvency And Bankruptcy Code

The complex world of regulators

Independent and continued evaluation of statutory regulatory agencies is necessary and important for feedback to regulators and Parliament

The Cinderella of insolvency

Undermining operational creditors is against the basic spirit of IBC

Creditors will now need to file info about defaults as IBBI amends rules

The amendment also provides for filing copy of GST returns by operational creditors, along with e-way bills as documentary evidence of the debt and default

Inadequate infrastructure continues to impede IBC implementation

A paper by the Insolvency and Bankruptcy Board of India (IBBI) said the time taken between filing of an insolvency application and its admission increased to 650 days in financial year 2021

IBBI amends rules, creditors may get power to remove liquidator under IBC

IBBI wants liquidation timeline reduced

IBBI amends rules for swifter and more streamlined redressal of grievances

The mechanism of complaint or grievance redressal and subsequent enforcement action has been amended to have expeditious redressal and also to avoid placing undue burden on the service providers.

5 years of IBC: Loans taken for telecom, oil assets sank Videocon

VIL's problems began after it entered the telecommunications (telecom) business and its second generation (2G)-based telecom licences were cancelled by the Supreme Court (SC) in 2012

TMS Ep193: IPL media rights, Bankruptcy Code, markets, weather and economy

Why is the race for IPL media rights still intense? Where does IBC stand after RBI's 'dirty dozen'? Where will indices seek support after Manic Monday? How weather impacts the economy? Answers here

What makes Essar steel sector's comeback kid amid insolvency proceedings

The $5.7-billion acquisition that closed after an 865-day-long saga was the largest private sector transaction in India in 2019 and the second-largest steel transaction globally that year

From debt trap to steely resolve, Bhushan Steel an outlier in IBC landscape

BSL was admitted for insolvency proceedings on July 26, 2017

Where does IBC stand five years after RBI's 'dirty dozen' announcement?

The Insolvency and Bankruptcy Code, 2016 was introduced to tackle bad loan problems. But it has been plagued with high haircuts for banks and delays. What can be done to achieve a quicker resolution?

IBC framework needs a booster dose; debt resolutions slacken in two years

According to the statistics by the Insolvency and Bankruptcy Board of India, since the provisions of IBC came into force in December 2016, as many as 5,258 insolvency cases have been filed by lenders

IBBI draft papers to improve insolvency resolution likely out this month

Delay in lenders seeking CIRP hitting recoveries

BoI contests maintainability of Amazon's intervention plea in FRL case

NCLT to hear matter on June 10; asks bank to respond to Amazon's intervention application; lender says will file reply without prejudice

FRL: NCLT to hear Amazon's plea opposing insolvency proceedings on June 10

A plea seeking initiation of insolvency resolution proceedings against FRL was filed by Bank of India (BoI), the lead banker in the consortium of lenders to the company.

NCLAT directs new board of IL&FS to pay lenders on a pro-rata basis

The interim distribution will be for Rs 16,361 crore -- Rs 11,296 crore in cash and Rs 5,065 crore in InvIT units

Nearly half of insolvency proceedings led to liquidation rather than rescue

IBBI latest data suggest only 14 per cent yielded resolution plans since the inception of IBC

IBC regime: NCLAT directs MCA, IBBI to amend statutory claims rule

The directive comes after observing gaps in the current IBC regime that deals with statutory claims

NCLT allows insolvency proceedings against National Textiles Corp

The National Company Law Tribunal (NCLT) has ordered to initiate insolvency proceedings against state-run National Textile Corporation (NTC) after admitting a plea by one of its operational creditors claiming default of around Rs 14 lakh. The New Delhi bench of the NCLT has also appointed Amit Talwar as an interim resolution professional (IRP), suspending the board of NTC and has also declared a moratorium against the PSU as per the provisions of the Insolvency & Bankruptcy Code (IBC). A two-member NCLT bench also rejected the claims of NTC and said the dispute it raised over the due amount claimed by its operational creditor is merely a "moonshine dispute and said default has occurred for the payment. This is probably for the first time since the code has come into effect that insolvency proceedings against a central government-owned public sector unit (PSU) has been initiated. NTC is under the jurisdiction of the Ministry of Textile, Government of India. It is engaged in the ...

New audit rulebook for SPACs in offing: Govt may legalise, allow listing

The draft Bill to amend the Companies Act is expected to be ready by the second quarter of the current fiscal year