Page 17 - Ibc

Lok Sabha passes Insolvency and Bankruptcy Code Bill amid noisy protests

Finance Minister Nirmala Sitharaman sought the cooperation of the members to pass the Bill in the House.

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

3 years of IBC: 7 charts offer insights into how the system has evolved

The amount recovered by financial creditors has varied, and does not show a clear improvement

After resolution of big steel cases, banks expect low recoveries from IBC

A senior banker with a public sector bank said, not more than 30% recovery was expected from the RBI's second list

A good score-card

Increase in insolvency cases could pose challenges

Key data that shows the progress IBC has made in saving a firm in distress

The latest data shows while the number of cases admitted to CIRP has almost doubled, so have the liquidations

Govt's NPA gameplan: Rs 4 trn recovered via IBC proceedings, says Thakur

Addressing the 70th annual function of the Institute of ICAI, the junior finance minister said when Modi assumed office in 2014 in his first term, NPA stood Rs 52 trillion.

Corporation Bank Q3 net jumps 7-fold to Rs 421cr, gross NPA at Rs 19,557 cr

Income increased to Rs 6,051.93 crore, from Rs 4,112.29 crore. On a standalone basis, the net profit increased to Rs 420.68 crore in 3rd quarter ended December 31, 2019 from Rs 60.53 crore a year ago.

Systemic change: Hits and misses of India's bankruptcy reforms code

IBC has had a carrot-and-stick effect - making companies serious about governance and bringing stuck capital back into the economy. It seems to be a work in progress, but the system is surely working

With tweaks, June 7 circular will fly

The RBI is yet to come out with the reference date for loan accounts less than Rs 1,500 crore

Withdraw draft resolution plan of management: DHFL to stock exchanges

DHFL is now under corporate insolvency resolution process as per IBC

Budget 2020: Prakash Javadekar hints at 'action plan' for economic revival

Markets to open for regular trading on February 1

Explained: Why lenders prefer IBC over SARFAESI Act for recovery of dues

This, despite the fact that changes in the Act which come into effect shortly give primacy to secured creditors

No wish for laws treating businesses with suspicion: FM Nirmala Sitharaman

This, after Tata Sons chairman said that businesses need supervision and not suspicion

Legislative adventurism

A proposal for a new law on bank resolution has already raised many troubling questions

SC agrees to examine validity of Centre's decision to amend IBC Ordinance

The bench issued notice to the Centre seeking its response on the pleas

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

Jaypee Infra's IRP approaches NCLT Allahabad for approval of NBCC's bid

Last month, NBCC won the bid to acquire Jaypee Infratech after financial creditors, including lenders and homebuyers, approved its resolution plan

Here's why Insolvency and Bankruptcy Code is a policy masterstroke

From 161 resolved cases, the realisable amount stands at over Rs 1.6 trn