Page 24 - Insolvency And Bankruptcy Code

State Bank of India moves NCLT to recover dues from Bajaj Hindusthan Sugar

The sugar and ethanol producer owes nearly Rs 4,800 crore to banks

Total 1,999 insolvency cases were going on as of June 2022, says govt

The resolution for corporate debtors is done under the Insolvency and Bankruptcy Code which provides for resolution through a market-driven process

NCLT admits Bank of India's insolvency petition against Future Retail

IRP appointed; corporate insolvency resolution process to start against the retailer

Legislation: Intent and interpretation

Interpreting the margins at the cost of core legislation could be costly for the economy

Defaulting firm's debt includes both principal and interest: NCLAT

Case related to a company that challenged insolvency proceeding against it for delaying payments to borrower

Govt likely to introduce bills to amend competition, insolvency laws

The government is likely to propose amendments to the competition and insolvency laws as it seeks to further strengthen the regulatory regime as well as address the needs of new age markets.

Power to admit insolvency application not binding even when debt owed: SC

The bench said NCLT failed to appreciate the question of time-bound initiation and completion of corporate insolvency resolution process could only arise if companies were bankrupt or insolvent

Deadline 14 days, but time to decide on admitting insolvency cases goes on

Resolution professional in Anil Ambani insolvency case says that it had been more than a year since a suit for recovery was filed against the businessman

IBBI releases discussion paper aimed at improving value of stressed assets

Proposals call for marketing strategy where total claims exceed Rs 100 cr; creditors can also propose steps to market stressed assets

Insolvency regulator working to bring mediation in insolvency cases

A source privy to IBBI's discussion said mediation might address the issue of courts delaying the insolvency process.

IBBI discussion paper proposes increasing fees on service providers

The Board is short of about Rs 21 crore to be self-sufficient and must shift from relying on the government, it says

Some gaps in ILC recommendations on resolution process, say experts

Report seen as unclear on who should pursue cases related to avoidable transactions and improper trading under bankruptcy code

The complex world of regulators

Independent and continued evaluation of statutory regulatory agencies is necessary and important for feedback to regulators and Parliament

The Cinderella of insolvency

Undermining operational creditors is against the basic spirit of IBC

Creditors will now need to file info about defaults as IBBI amends rules

The amendment also provides for filing copy of GST returns by operational creditors, along with e-way bills as documentary evidence of the debt and default

Inadequate infrastructure continues to impede IBC implementation

A paper by the Insolvency and Bankruptcy Board of India (IBBI) said the time taken between filing of an insolvency application and its admission increased to 650 days in financial year 2021

IBBI amends rules, creditors may get power to remove liquidator under IBC

IBBI wants liquidation timeline reduced

IBBI amends rules for swifter and more streamlined redressal of grievances

The mechanism of complaint or grievance redressal and subsequent enforcement action has been amended to have expeditious redressal and also to avoid placing undue burden on the service providers.

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

TMS Ep193: IPL media rights, Bankruptcy Code, markets, weather and economy

Why is the race for IPL media rights still intense? Where does IBC stand after RBI's 'dirty dozen'? Where will indices seek support after Manic Monday? How weather impacts the economy? Answers here