Page 13 - Latest Updates on IBC
NCLAT admits McLeod promoter appeal, to decide on constitution of CoC
On August 6, the National Company Law Tribunal (NCLT) had admitted an application filed by Techno for initiating corporate insolvency resolution process (CIRP) against McLeod.
 "NCLAT admits McLeod promoter appeal, to decide on constitution of CoC")
'IBC is a road under construction,' says IBBI chairperson M S Sahoo
Referring to the pre-pack scheme of insolvency resolution for micro, small and medium enterprises (MSMEs), he says it takes three-six months for the market to understand a new framework
 "'IBC is a road under construction,' says IBBI chairperson M S Sahoo")
Siva tests IBC: NCLAT's choice between judicial wisdom & commercial wisdom
Siva Industries, a machinery part-maker, was admitted to the bankruptcy court on July 5, 2019
Get more judges: Bankruptcy logjams make India no country for dying firms
Across India, 27 bankruptcy tribunals are being run by 29 judges; at least 25 short of what's required.
 "Get more judges: Bankruptcy logjams make India no country for dying firms")
IBC reform helps insolvency professional assess avoidance transactions
Recent amendments by the Insolvency and Bankruptcy Board place the insolvency professional at the fulcrum of the resolution process.
 "IBC reform helps insolvency professional assess avoidance transactions")
CoCs need best practices code
'The delay in insolvency case resolution is another problem area where CoCs need to play a more proactive role', says the author
 "CoCs need best practices code")
Bad loans: Prevention is better than cure
In managing the bad loan problem, IBC should be the last resort for banks
 "Bad loans: Prevention is better than cure")
Siva industries' IBC proceedings: Lenders to appeal against NCLT order
The lenders plan to move the NCLAT as NCLT slammed the banks repeatedly for not voting on the one time settlement proposal made by the promoters
The unfairness of real estate bankruptcy resolution
'Real estate bankruptcy laws ought to be completely overhauled to right this egregious wrong', said the author
 "The unfairness of real estate bankruptcy resolution")
NCLT rejects Siva Industries' debt resolution under IBC, orders liquidation
Siva Industries was admitted to the bankruptcy court on July 5, 2019
 "NCLT rejects Siva Industries' debt resolution under IBC, orders liquidation")
NCLT admits application for initiating CIRP against McLeod Russel
Once the world's largest tea producer, McLeod Russel, part of the Brij Mohan Khaitan group company, is now India's largest with about 31 estates
 "NCLT admits application for initiating CIRP against McLeod Russel")
RIL-Future deal: Lenders worried over big hair-cuts, IBC option open
Retail entity's cash flows have been hit, and if the merger deal does not go through, the working of restructuring would be under strain
 "RIL-Future deal: Lenders worried over big hair-cuts, IBC option open")
Poor asset valuation, economic climate, NCLT delays see IBC losing favour
Less than 200 cases have been admitted to the National Company Law Tribunal till June after the suspension was lifted on March 24, revealed the Insolvency and Bankruptcy Board of India
Rajya Sabha adjourned for day amid protest, passes IBC (Amendment) Bill
Rajya Sabha was adjourned on Tuesday amid continuous protest by opposition parties over their demand for a discussion on the use of Pegasus spyware, farmers' agitation and other issues
 "Rajya Sabha adjourned for day amid protest, passes IBC (Amendment) Bill")
Insolvency process: Parl panel suggests benchmark for 'quantum of haircut'
The Insolvency and Bankruptcy Code (IBC), which came into effect in 2016, provides for a market-linked and time-bound resolution of stressed assets.
 "Insolvency process: Parl panel suggests benchmark for 'quantum of haircut'")
Lok Sabha passes bill to amend insolvency law without debate
Minister of State for Corporate Affairs Rao Inderjit Singh moved the Bill for consideration and passage amid the din
 "Lok Sabha passes bill to amend insolvency law without debate")
The other side of IBC
Any restructuring of stressed accounts outside the IBC would not look credible till the performance of PSBs improves
 "The other side of IBC")
Vijay Mallya's bankruptcy: What it means for fugitive businessman, lenders
As per British law, a bankruptcy trustee takes charge of a bankrupt person's financial and physical assets
 "Vijay Mallya's bankruptcy: What it means for fugitive businessman, lenders")
Decoded: What is prepackaged insolvency resolution & how does process work?
The prepackage process for resolution has been popular in Europe and the US over the past decade
 "Decoded: What is prepackaged insolvency resolution & how does process work?")
Nirmala Sitharaman introduces IBC (Amendment) Bill 2021 in Lok Sabha
Sitharaman is in charge of both finance and corporate affairs ministries.
 "Nirmala Sitharaman introduces IBC (Amendment) Bill 2021 in Lok Sabha")