Bankruptcy Cases In India

The Insolvency and Bankruptcy Board of India is finalizing a set of proposals aimed at speeding up resolution

A mechanism is needed to ensure bank-led resolution- not the NCLT- is the first resort for lenders

Gaming the system leads to losses to lenders

He also said that not many applications had been filed under the prepackaged scheme brought in for micro, small and medium enterprises (MSMEs)

Several roads, real estate and power companies are headed to the bankruptcy courts once the one-year ban imposed by the RBI lifts in the coming week

"Operational creditors triggered as much as 49.65 per cent of the bankruptcy petitions, followed by 43.61 per cent by financial creditors and the remaining by corporate debtors," the report said

Seek legal advice, want force majeure clause included in new contracts

In July, in a bid to expedite the resolution process, the government made amendments to the Insolvency and Bankruptcy Code (IBC) that included revising the time limit to 330 days

The 12 companies account for 1.78 trillion rupees ($27.7 bn) in non-performing bank loans: RBI data