Page 10 - Ibc

IBC regime: NCLAT directs MCA, IBBI to amend statutory claims rule

The directive comes after observing gaps in the current IBC regime that deals with statutory claims

CBIC issues SOPs for recovering tax dues from insolvent companies

The CBIC said it has nominated a nodal officer to ensure filing of claims with the Insolvency and Bankruptcy Board of India (IBBI) within 90 days of the commencement of the process

Petition for insolvency gets time-barred if filed after 3 years: NCLAT

A former managing director of a Dutch company had moved tribunal seeking payment of salary arrears from its Indian arm.

Top headlines: Govt warns cab aggregators, volatility in power stocks

Here are the top business stories on Wednesday

Lenders can invoke personal guarantees in IBC cases, says Supreme Court

IBC provision requires initiation of CIRP to proceed against personal guarantors

Resolution primary objective of IBC; but recovery important too: SBI MD

Financial and operational creditors owe money to companies facing insolvency proceedings and so recovery has to be an important factor while achieving resolution of stressed assets, he noted

Govt seeks inputs on tackling cross-border insolvency: Union Minister Rao

Union Budget in February talked about updating the Insolvency and Bankruptcy Code to enable cross-border dispute resolution.

NCLT orders insolvency proceedings against Santasha Real Estate

The order came on a plea filed by Vani Advertising, an operational creditor to the company that has claimed a default of Rs 40.77 lakh

Insolvency proceedings' deadline problem

The Bankruptcy Law Reforms Committee had spent considerable time on the timelines to be prescribed for various steps under the insolvency/bankruptcy proceedings

At Rs 2.5 trillion, IBC recoveries one-third of admitted claims

Until December 31 last year, 457 companies were resolved under IBC: Govt tells Parliament.

SFIO has received 8 complaints regarding violation of IBC provisions: Govt

The Insolvency and Bankruptcy Code (IBC) provides a market-linked framework for resolution of stressed assets and it came into force in 2016

IndusInd initiates insolvency process against Zee Entertainment

IndusInd Bank claims to be the financial creditor before the NCLT for initiation of corporate insolvency resolution process against Zee and has claimed a default of Rs 83 crore

Insurers seek legal recourse for surety bond biz, urge changes in key laws

Reach out to reinsurers for expertise on surety bonds business

Reliance Industries plans to make a bid for Videocon's oil assets

In January this year, the NCLAT ordered the lenders to seek fresh bids for Videocon Industries

Budget 2022: MSMEs may get credit guarantee, better deal in IBC cases

Banks and MSME industry representatives have sought support for the sector in the line of ECLGS, a measure introduced early in the pandemic

Budget 2022: MSMEs may get credit guarantee, better deal in IBC cases

Banks and MSME industry representatives have sought support for the sector in the line of ECLGS, a measure introduced early in the pandemic

A code for the committee of creditors

Several proceedings have witnessed a variety of contraventions of provisions of the insolvency law by market players

Best of BS Opinion: Strengthening IBC, happy stories for new year & more

Here is the best of Business Standard's opinion pieces for Wednesday

Amount recovered through various channels dropped in 2020-21: RBI report

The IBC route yielded more than Rs 27,000 crore, while around Rs 27,700 crore was recovered through the SARFAESI Act

Strengthening IBC

Proposed changes will reduce delays