Page 9 - Ibbi

IBBI amends rules for corporate resolution, voluntary liquidation process

"The resolution plan, which receives the highest votes, but not less than sixty-six percent of voting share, shall be considered as approved," it added

Insolvency and Bankruptcy Board amends liquidation process regulations

IBBI is a key institution in implementing the Insolvency and Bankruptcy Code (IBC), which provides for market-linked and time-bound resolution of stressed assets

Ex-DIPP secy Ramesh Abhishek hasn't applied for Sebi Chairman post: Govt

The development comes amid speculation that he is one of the top contenders for the post of Sebi chief

IBBI proposes limiting number of assignments handled by IPs to check delays

The IBBI has floated a discussion paper seeking comments from the industry on this matter by July 25; Discussion paper limits maximum assignments to 5

Regulators, top govt officials meet to pull economy out of crisis

They also deliberated upon the status and developments under the IBC, and the working of credit rating agencies, the RBI said in a statement.

Both debtors & creditors will be wary of using IBC in short term: M S Sahoo

As the banking system gears up to support businesses in face of defaults due to Covid 19, resolution of stressed assets could be the next big task for system, says M S Sahoo

Coronavirus lockdown: IBBI gives time-limit breather for IBC cases

The government had recently raised the threshold for default from Rs 1 lakh to Rs 1 crore to prevent triggering of insolvencies

Insolvency law a 'Swachhata drive' against non-performing asset: IBBI chief

The Code provides for a time-bound and market-linked resolution of stressed assets. If the resolution does not happen, the company concerned goes into liquidation.

IBC provides new lifeline to save stressed firms from premature deaths

The insolvency law provides a new lifeline for stressed companies to save them from premature death, IBBI Chairman M S Sahoo said on Friday. The Insolvency and Bankruptcy Code (IBC) provides for a time-bound and market-linked resolution of stressed assets. Speaking at an event here, Sahoo said the IBC provides a new lifeline to a company which has a value and has to be saved from premature death. Exemplifying his point, Sahoo said the average life of S&P 500 companies has reportedly come down from 90 years to 18 years over the last century. There is a kind of danger to the life of a business and at times, freedom results in unfair battles at market place, he noted. As many as 190 companies have been rescued till December 2019 through resolution plans and they owed Rs 3.8 lakh crore to creditors. The Insolvency and Bankruptcy Board of India (IBBI) is a key institution in the insolvency ecosystem.

Realisation of 823 firms under IBC only 7% of admitted claims till January

Till January, financial creditors had recovered around 44.01 per cent

IBBI proposes simultaneous CoC voting on two or more resolution plans

The Insolvency and Bankruptcy Code (IBC) aims at time-bound and market-linked resolution of stressed entities

IBBI amends voluntary liquidation norms, unclaimed dividends to go to CVLA

The Insolvency and Bankruptcy Board of India (IBBI) has notified changes to the voluntary liquidation process regulations

Jio, UVARC emerge top bidders for RCom assets with bids worth Rs 21,000 cr

Delhi-based UVARC has offered to pay about Rs 16,000 crore for the spectrum, real estate, and enterprise and data centre businesses of RCom and Reliance Telecom, which houses these assets

Changes in IBBI norms bar re-entry of ex-promoters in cos under liquidation

The amendment is in line with the intent of the Section 29A of Code preventing any sort of re-entry of ex-promoters

Disqualified parties barred from liquidation process, says IBBI

Such persons will also not be eligible to enter into any settlement or arrangement with the creditors of the insolvent company under Section 230 of the Companies Act, the IBBI has clarified

Personal insolvency beginning of a 'new learning': IBBI chief M S Sahoo

"We intend to move in a phased manner to cover insolvency of partnership and proprietorship firms and other individuals," he said.

Insolvency resolution: Share of operational creditors reduces to 48% in Q2

The share of financial creditors has risen from 40 per cent to 43 per cent in the same period

Resolution of financial service providers possible under IBC: IBBI chief

Currently, resolution of stressed financial institutions cannot be taken up under the Insolvency and Bankruptcy Code (IBC).

Need to improve capacity building of stakeholders, says IBBI chairman

Sahoo reiterated that there was no shortage of resolution professionals and registered valuers

IBBI sets one-year timeline for liquidation process of insolvent companies

New regulations also say that a compromise between the stakeholders must happen within 90 days of the liquidation order