Insolvency reforms: Gradually and then suddenly

Though in the works for years, the ecosystem has sprung alive over the past year, with a regulator, three professional agencies, over 1,000 individuals and 40 corporate practitioners. Nearly 400 resolution processes, six liquidations and 40 voluntary liquidations are on: 

Crucial year ahead for regulator

It has been a hectic first year for the insolvency regulator, which hit the ground running. A year ago, when M S Sahoo went to work in a small room in the building of the Institute of Cost Accountants of India, there were not many to assist him. The board itself comprised only nominee members. The first whole-time member would join only five months later. But, Sahoo had tight deadlines. The government wanted the entire corporate insolvency framework to be ready by December 1. Read More

Regime for individuals will be in place quickly: IBBI chairman M S Sahoo

M S Sahoo, chairman, Insolvency and Bankruptcy Board of India (IBBI), is a trained lawyer and a veteran of regulatory policy, in his fifth regulatory job. Even for a person with such diverse experience and stints in the finance ministry and institutions such as the National Stock Exchange, Securities and Exchange Board of India, Institute of Company Secretaries of India and the Competition Commission of India, the first year at India’s youngest regulator has been one of great learning. In an interview with N Sundaresha Subramanian, he speaks about the year gone by and the one ahead. Read More

A day in the life of NCLT: Cases under code on fast track

It’s 10 past 10 on a Tuesday. Lawyers and their assistants with large bags containing case documents begin strolling into court room no 1. The principal bench of the National Company Law Tribunal (NCLT) comprising its president Mahesh Mittal Kumar, and S K Mohapatra, member (technical) will assemble in a few minutes in the brightly lit, largish rectangular hall, with a seating capacity of about 50.  Read More