Page 21 - Latest Updates on IBC
Financial creditors recover more under IBC, says Economic Survey
In the two years of the IBC, real estate was the top sector, with 20 per cent of the insolvency cases being registered
 "Financial creditors recover more under IBC, says Economic Survey")
Promoters can take part in liquidation process if lenders okay IBC exit
Fate of several companies is hanging in the balance as defaulting promoters approach the NCLT to settle dues with creditors
 "Promoters can take part in liquidation process if lenders okay IBC exit")
IBC: Introduce pre-packs, group insolvency to facilitate speedy resolutions
In the coming months, we are hopeful of a few more cracks in the framework being filled
 "IBC: Introduce pre-packs, group insolvency to facilitate speedy resolutions")
Another bad idea
Govt should not amend IBC to introduce small loan waivers
 "Another bad idea")
IBC resulted in recovery rate of 43%, figure is respectable: CRISIL
As on March 31 of this year, the resolution plan for 94 stressed assets was approved by the National Company Law Tribunal (NCLT)
 "IBC resulted in recovery rate of 43%, figure is respectable: CRISIL")
IBC resolution: Towards the inevitable
The successful implementation of the IBC depended on a much bigger involvement of the state through a huge new superstructure of registration, certification and supervision
 "IBC resolution: Towards the inevitable")
IBC takes 300 days, BIFR took 5-8 yrs: IBBI chairman M S Sahoo
As many as 12,000 cases have been filed since the implementation of the IBC and setting up of NCLT, shows government data
 "IBC takes 300 days, BIFR took 5-8 yrs: IBBI chairman M S Sahoo")
Is the Insolvency and Bankruptcy Code losing its effectiveness?
On the contrary, it has the potential to change the behaviour of investors, lenders and borrowers to create a more healthy ecosystem for India Inc
 "Is the Insolvency and Bankruptcy Code losing its effectiveness?")
Should there be different IBC resolution mechanisms for different sectors?
Harmonise special regulations for each sector with the IBC, instead of creating carve-outs, say experts
 "Should there be different IBC resolution mechanisms for different sectors?")
Give details of insolvency law committee, Supreme Court tells Centre
It had been tasked to issues which might 'impact the efficiency of the corporate insolvency resolution and liquidation framework' and make recommendations
 "Give details of insolvency law committee, Supreme Court tells Centre")
CoC, RP faced with grey areas in IBC as bidders hold-up plan implementation
At least seven resolutions at stake as bidders raise issues
 "CoC, RP faced with grey areas in IBC as bidders hold-up plan implementation")
Banks' recovery improves after insolvency code, changes in Sarfaesi: Report
Efforts on the part of private banks to clean up their balance sheets through higher write-offs and better recoveries contributed to low GNPA ratios in these banks
 "Banks' recovery improves after insolvency code, changes in Sarfaesi: Report")
Two years of IBC: Here are its hits & misses, and the road ahead
1,298 cases admitted for the corporate insolvency resolution process
 "Two years of IBC: Here are its hits & misses, and the road ahead")
Right intent, wrong definition
Section 29A of the IBC needs a hard look, indeed
 "Right intent, wrong definition")
IBC's greatest feat
Two years on, it has ended the culture of impunity
IBC may need tweaks in provisions to iron out operational issues: Experts
Experts point out that the law prescribes criminal prosecution of such bidders but the company will be liquidated if a resolution plan fails
Delays in top 12 corporate insolvency cases cost lenders Rs 40 billion
Around 241 companies were sent for liquidation under the IBC by various NCLT benches and in only 58 cases have the resolution plans been accepted by the NCLT, the IBBI data shows
 "Delays in top 12 corporate insolvency cases cost lenders Rs 40 billion")
So far, 1,198 corporates admitted under IBC, 52 cases resolved: Official
About 212 cases resulted in liquidation and 118 were closed on appeal or review
 "So far, 1,198 corporates admitted under IBC, 52 cases resolved: Official")
Sidelined by IBC, official liquidators may get to handle insolvency cases
5,000 cases in the country are pending with these official liquidators, according to ministry officials
Bankruptcy Code will deepen Indian corporate bond market: Assocham
According to the chamber, the contribution proportion of the corporate bond market to the GDP is 123% in the US and 74% in South Korea
 "Bankruptcy Code will deepen Indian corporate bond market: Assocham")
