Top headlines: IBBI amends rules, yield curve inverts in the US, and more

The Insolvency and Bankruptcy Board of India (IBBI) has proposed a slew of changes to the liquidation regulations to iron out the inconsistencies and make the liquidator more accountable under the Insolvency and Bankruptcy Code (IBC). The e-auction for the media rights of the Indian Premier League (IPL) has thrown up an interesting picture: Reliance Industries (RIL), which owns Viacom18 along with Paramount Global and Bodhi Tree Systems, will be the digital streaming partner of the tournament. 

IBBI amends rules, creditors may get power to remove liquidator under IBC
 

The Insolvency and Bankruptcy Board of India (IBBI) has proposed a slew of changes to the liquidation regulations to iron out the inconsistencies and make the liquidator more accountable under the Insolvency and Bankruptcy Code (IBC). Under the proposed changes, a committee of creditors (CoC) may act as a stakeholders’ consultation committee (SCC), which is typically set up within 60 days from the date of commencement of liquidation, to monitor the process from the beginning. Read more

IPL rights winners might take 4 yrs to bridge gap between price and revenue

The bubbly might not flow freely at the winners of this week’s auctions of the broadcast rights to the Indian Premier League (IPL), the party pooper being a possible four-year gestation before they bridge the gap between the price per match and the advertising revenue. The Indian cricket board raised eyebrows when it auctioned the 2018-22 broadcast rights for the IPL to STAR India for Rs 16,347.5 crore — for every medium and geography. Read more

Reliance on top after Viacom's media rights purchase in IPL e-auction

The e-auction for the media rights of the Indian Premier League (IPL) has thrown up an interesting picture: Reliance Industries (RIL), which owns Viacom18 along with Paramount Global and Bodhi Tree Systems, will be the digital streaming partner of the tournament. At the same time, the conglomerate also owns the Mumbai Indians franchise. In fact, this is the first time in the history of the IPL that one group is both a broadcaster and team owner, some experts said. Read more

Yield curve inverts in the US and flattens in India, hinting at slowdown

As investors and the bond market brace for a sharp hike in policy rate by central banks to fight inflation, the yield curve has inverted in the US. It has begun to flatten in India, hinting at the possibility of recession or a big decline in economic growth globally and in the domestic economy. Yield curve inverts when short-term yields are higher than long-term yields. In the US, the yield on short-maturity bonds, such as three- and five-year government bonds, is now higher than the yield on long-tenure paper, such as 10- and 30-year bonds. Read more

Blackstone pips Saudi's PIF to top slot in PE investments in India in 2021

US private equity giant Blackstone overtook Saudi Arabia’s sovereign wealth fund Public Investment Fund to claim the top slot among private equity and sovereign funds in terms of investment in India in 2021. Blackstone invested $4.9 billion in India in 2021, compared with the $3.3 billion that was invested by PIF to win the top slot in 2020, according to the India Private Equity Report of 2022 released by Bain Capital with Indian Venture and Alternate Capital Association on Wednesday. In 2020, with investments of $1.6 billion, Blackstone was eighth in the pecking order. Read more

Inadequate infrastructure continues to impede IBC implementation
 

Five years since the Reserve Bank of India came out with the "dirty dozen" list, the Insolvency and Bankruptcy Code (IBC) is still being seen as a last resort by lenders, Reserve Bank of India Deputy Governor M Rajeshwar Rao said at the International Research Conference on Insolvency and Bankruptcy at the Indian Institute of Management (Ahmedabad) earlier this month. Read more