Page 2 - Latest Updates on IBC
DFS secy holds workshop on overhauled IBC rules for banking sector
Workshop focused on amended IBC provisions, including group insolvency and cross-border resolution frameworks for stressed assets
 "DFS secy holds workshop on overhauled IBC rules for banking sector")
NCLT allows withdrawal of insolvency process against ATS Le Grandiose
In an order dated May 5, the tribunal allowed withdrawal of CIRP following an amicable settlement with lenders under Section 12A of the Insolvency and Bankruptcy Code
 "NCLT allows withdrawal of insolvency process against ATS Le Grandiose")
SC flags 'grim' delays in NCLT clearing insolvency resolution plans
The Supreme Court has taken suo motu cognisance of delays in NCLT approvals, warning that prolonged timelines could undermine the objectives of the Insolvency and Bankruptcy Code
 "SC flags 'grim' delays in NCLT clearing insolvency resolution plans")
Mismatch between IBC and tax law clouds loss carry-forward benefits
A growing mismatch between insolvency and tax laws is raising uncertainty for companies, with tax authorities denying loss carry-forward benefits despite approved resolution plans
 "Mismatch between IBC and tax law clouds loss carry-forward benefits")
Reliance Infratel insolvency: SC court restores lenders' creditor status
Top court rules corporate guarantees qualify as financial debt under IBC, directs reconstitution of creditors' panel in Reliance Infratel insolvency case
 "Reliance Infratel insolvency: SC court restores lenders' creditor status")
SBI moves SC seeking review of spectrum ruling, cites IBC misread
SBI seeks Supreme Court review of spectrum ruling, warning it may undermine lender rights and disrupt financing across telecom and other regulated sectors
 "SBI moves SC seeking review of spectrum ruling, cites IBC misread")
Vedanta challenges Adani's JAL plan, flags flaws in CoC scoring process
Vedanta has challenged Adani Group's JAL resolution plan at NCLAT, alleging flawed and opaque CoC scoring that undermined value maximisation under insolvency rules
 "Vedanta challenges Adani's JAL plan, flags flaws in CoC scoring process")
IBC overhaul aims to cut delays and boost recoveries: Icra report
IBC amendments introduce a creditor-led fast-track insolvency route, tighten timelines and reduce procedural bottlenecks to improve recoveries and speed up resolutions
 "IBC overhaul aims to cut delays and boost recoveries: Icra report")
IBC Bill passed; FM highlights land authorities can join CoC meetings
Parliament passes IBC Bill allowing land authorities in CoC meetings, with around 50,000 homebuyers expected to benefit from pending real estate cases
 "IBC Bill passed; FM highlights land authorities can join CoC meetings")
CoC must list reasons for approving resolution plan in new IBC Bill: FM
The amended IBC Bill requires the Committee of Creditors to record reasons for selecting resolution applicants, while introducing timelines for NCLAT and faster approval of plans
 "CoC must list reasons for approving resolution plan in new IBC Bill: FM")
Insolvency law crucial in improving health of banking sector: FM Sitharaman
Finance and Corporate Affairs Minister Nirmala Sitharaman on Monday said that more than half of the NPAs (Non-Performing Assets) have been recovered by the banks through the resolution process
 "Insolvency law crucial in improving health of banking sector: FM Sitharaman")
IBC helped recover over ₹4 trillion in last decade: Anurag Thakur
Participating in the debate on the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, Thakur said IBC is not a recovery mechanism but a revival and resurrection of the company
 "IBC helped recover over ₹4 trillion in last decade: Anurag Thakur")
Committee of Creditors not beyond judicial oversight, says Supreme Court
The Supreme Court said CoC's commercial decisions are not immune from scrutiny where illegality or jurisdictional lapses are established
When resolution becomes recovery: Shift towards enforcement framework
The IBC was designed to address collective action problems and prevent a race for enforcement that destroys going-concern value
 "When resolution becomes recovery: Shift towards enforcement framework")
IBBI pushes transparency as CoC decisions in bankruptcy cases draw scrutiny
Recent proposals by the insolvency regulator aim to increase transparency and accountability in the Committee of Creditors' decisions after the Supreme Court flagged gaps in the IBC process
 "IBBI pushes transparency as CoC decisions in bankruptcy cases draw scrutiny")
FinMin asks banks to step up efforts to reduce delays in IBC cases
At a review meeting, the finance ministry directed public sector banks to minimise adjournments and speed up CIRP filings, aiming to accelerate NCLT admission and resolution timelines
 "FinMin asks banks to step up efforts to reduce delays in IBC cases")
IBBI mandates listing all homebuyers in a firm's information memorandum
IBBI has required information memoranda to include details of all homebuyers, even those who have not filed claims, and introduced reforms to strengthen valuation standards under the IBC
 "IBBI mandates listing all homebuyers in a firm's information memorandum")
IBBI proposes new norms to strengthen CoC oversight and transparency
IBBI's discussion paper recommends detailed CoC deliberation records, mandatory going-concern assessments and clarified rules on delayed claims to improve IBC transparency and discipline
Telecom spectrum can't be treated as asset under IBC: Supreme Court
Court holds spectrum is a material resource of the community and cannot form part of insolvency asset pool; DoT free to reclaim airwaves from defaulters
Telecom firms can't use IBC moratorium to defer spectrum dues, says SC
The Supreme Court ruled that telecom companies cannot use insolvency law to delay or restructure licence and spectrum dues, saying spectrum is a public resource, not a company asset
 "Telecom firms can't use IBC moratorium to defer spectrum dues, says SC")