Page 2 - Ibc

Parliamentary panel to review IBC and propose reforms for efficiency

The Centre is expected to table an amendment Bill in the monsoon session as a parliamentary panel examines the Code amid concerns flagged by the Supreme Court

Parliamentary panel flags 'ambiguities' in IBC; govt mulls amendments

Following the status quo put on BPSL's liquidation, a parliamentary panel has deemed the existing IBC not up to the mark

IBBI allows RPs to invite resolution plans for individual asset sales

Amendments to IBBI regulations enable flexibility in insolvency resolution by permitting asset-wise resolution plans with committee of creditors' approval

IBC not meant to shield violators of consumer rights from prosecution

The Supreme Court observed that staying the penalties imposed by the National Commission would set a dangerous precedent, allowing developers to delay justice by invoking insolvency proceedings

60% resolution plans under IBC approved in last three years: IBBI data

IBBI data reveals 30,000 cases with defaults of Rs 13.8 trillion settled pre-admission under IBC till December 2024; creditor recovery at 32.8 per cent by March 2025

Govt likely to amend IBC to scrap prior CCI nod for insolvency bids

Experts feel a clarity by the government on this matter would bring relief to bidders who were concerned about approaching CCI before the CoC approval

IBC requires urgent reforms to meet demands across various sectors

Court orders and reforms do not compensate for the legislative clarity needed in IBC for sector-specific insolvency processes

Don't stretch your power beyond statute: NCLT chairperson cautions litigant

NCLT Chairperson R Sudhakar says tribunal must operate within IBC and Companies Act as BPSL liquidation returns to Delhi bench after Supreme Court's recent ruling

Big Four rejig IBC verticals with fewer insolvency cases getting filed

Between the June and December quarter of FY25, the number of insolvency applications initiated by financial creditors went down from 150 to 84

BPSL case: JSW Steel likely to cite NCLT 2019 order in SC review plea

JSW Steel and lenders will move the Supreme Court after its verdict struck down the BPSL resolution plan, citing lack of Form H and equity infusion in the structure

Over 30K IBC cases settled pre-admission covering ₹13.78 trillion: Ibbi

Over 30,000 cases were settled before their admission in the Insolvency and Bankruptcy Code (IBC) till December 2024, covering defaults worth Rs 13.78 lakh crore, a top IBBI official said on Saturday. This proves that the provisions of the Insolvency and Bankruptcy Code (IBC) have prompted debtors to take early action in distress situations, marking a positive shift in their behaviour, he said. "There's a noticeable improvement in credit discipline, with 30,310 cases settled prior to admission, covering underlying defaults worth Rs 13.78 lakh crore till December 2024," said Jitesh John, Executive Director, Insolvency and Bankruptcy Board of India (IBBI). Speaking at the 8th Annual Conference on IBC organised by CII Eastern Region here, John said the RBI's Trend and Progress of Banking in India 2023-24 report indicated that of the Rs 96,000 crore recovered by scheduled commercial banks through various channels, Rs 46,000 crore came through IBC, highlighting its central role. He adde

Best of BS Opinion: Of arbitration, agreements, and artificial intelligence

Our opinion page today makes a strong argument for better management of the arbitration process, as well as the precedent that the Supreme Court's judgement sets

Top steelmakers likely to rebid for distressed Bhushan Power & Steel assets

SC's order to liquidate Bhushan Power may prompt renewed interest from top steel companies, but investor concerns grow over reversals of long-settled IBC deals

SC ruling on BPSL resolution may reset IBC process as JSW plans review plea

"No prudent resolution applicant would submit a plan if there remains a lingering fear that some state authority might overturn it decades later", says Former IBBI chairperson M S Sahoo

Supreme Court scraps IBC buyout of Bhushan Power & Steel by JSW Steel

Supreme Court terms JSW Steel's Bhushan Power resolution plan illegal and orders liquidation, criticising CoC, NCLT, and the resolution professional

Parliamentary panel flags concerns, suggests ways to improve IBC outcomes

'Operational creditors' interests are often overlooked; they should get adequate representation'

Downward shift in liquidations seen under IBC: IBBI chairperson Ravi Mittal

Of the total cases ending in liquidation, 211 had admitted claims of more than Rs 1,000 crore, with aggregate claims of Rs 9.59 lakh crore

Ibbi proposes coordinated insolvency resolution for interconnected entities

Ibbi has noted that the current IBC process treats each entity as a standalone unit, overlooking the intricate web of interdependencies often present in modern business ecosystems

Companies in India not using IBC enough to resolve insolvency: IBBI chief

IBBI data suggests that the share of CIRPs initiated by corporate debtors or companies is declining over time

NPA cases referred for resolution, amount involved drop in 2023-24

As a result, the amount involved and the amount recovered in absolute terms was also lower than the amount involved and recovered in 2022-23