Page 10 - Ibc

Top Headlines: Hurdles in recruitment plan, India Inc's capital expenditure

Business Standard brings you the top headlines at this hour

5 years of IBC: Loans taken for telecom, oil assets sank Videocon

VIL's problems began after it entered the telecommunications (telecom) business and its second generation (2G)-based telecom licences were cancelled by the Supreme Court (SC) in 2012

What makes Essar steel sector's comeback kid amid insolvency proceedings

The $5.7-billion acquisition that closed after an 865-day-long saga was the largest private sector transaction in India in 2019 and the second-largest steel transaction globally that year

From debt trap to steely resolve, Bhushan Steel an outlier in IBC landscape

BSL was admitted for insolvency proceedings on July 26, 2017

IBC framework needs a booster dose; debt resolutions slacken in two years

According to the statistics by the Insolvency and Bankruptcy Board of India, since the provisions of IBC came into force in December 2016, as many as 5,258 insolvency cases have been filed by lenders

IBBI draft papers to improve insolvency resolution likely out this month

Delay in lenders seeking CIRP hitting recoveries

NCLAT directs new board of IL&FS to pay lenders on a pro-rata basis

The interim distribution will be for Rs 16,361 crore -- Rs 11,296 crore in cash and Rs 5,065 crore in InvIT units

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