Page 29 - Insolvency And Bankruptcy Code

Videocon insolvency: Lenders make U-turn, approach NCLAT for fresh bids

Billionaire Anil Agarwal's Twin-Star Technologies had offered Rs 2,962 crore to takeover Videocon Industries, which was 4.15% of the admitted claims of Rs 64,838.63 cr of lenders

MCA, Finance Ministry hammer out key changes to IBC at review meet

The IBBI has said that the CoC functions in an unregulated environment

CoC resolution plan can't be modified or withdrawn: Supreme Court

The IBC has seen higher acceptance in the last ten quarters as maximum cases were admitted during this time

Cracking the whip: Panel puts resolution professionals under the scanner

Govt feels enough checks and balances in place; experts say there's need for audit and regulator

3/4th of liquidated companies were in BIFR or defunct: IBBI data

Of the 396 corporate debtors rescued through resolution plans, 127 were in either BIFR or defunct, according to IBBI

Another IBC fix?

Regulator's proposal for code of conduct for creditors deserves scrutiny

McLeod Russel steps out of insolvency after settlement with creditor

Sources say offer has been made to P P Gupta of Techno Electric for a minority stake in the firm, who could chip in to help McLeod promoters bring in equity as per debt resolution

Insolvency law's success needs to be appreciated, say experts

The insolvency law has provided a framework for resolution of stressed assets, and its success needs to be appreciated in comparison with the situation that prevailed prior to its implementation

Need objective assessment of working of insolvency law: IBBI chief

IBBI Chairperson M S Sahoo on Thursday pitched for a comprehensive and objective framework to assess the working of the insolvency law to make prompt course corrections.

Why controlling CoC conduct could be a challenging task for IBBI

Experts say such a code could lead to litigation, which may affect the decision-making ability of the committee

McLeod Russel promoters seek to settle with Techno as way out of insolvency

Sources say talks between the two parties are on, finer details of a settlement being worked out; top brass of both sides refuse to comment

IBBI proposes stringent rules for more transparent liquidation process

Board says this will improve stakeholders' confidence and participation in the process, lead to effective supervision and monitoring, and improve outcomes of the process

Pre-pack resolution route needs incentives

Given that most MSMEs are informally organised, they may be averse to an insolvency resolution mechanism which displaces their founders

MCA is working to issue code of conduct for creditors under IBC: Verma

This comes a month after a Parliamentary panel flagged the "disproportionately large and unsustainable 'haircuts' taken by the financial creditors over the years"

'IBC is a road under construction,' says IBBI chairperson M S Sahoo

Referring to the pre-pack scheme of insolvency resolution for micro, small and medium enterprises (MSMEs), he says it takes three-six months for the market to understand a new framework

Siva tests IBC: NCLAT's choice between judicial wisdom & commercial wisdom

Siva Industries, a machinery part-maker, was admitted to the bankruptcy court on July 5, 2019

McLeod promoter to move NCLAT challenging NCLT order on insolvency

The appeal is listed for hearing on August 25

IBC reform helps insolvency professional assess avoidance transactions

Recent amendments by the Insolvency and Bankruptcy Board place the insolvency professional at the fulcrum of the resolution process.

CoCs need best practices code

'The delay in insolvency case resolution is another problem area where CoCs need to play a more proactive role', says the author

Bad loans: Prevention is better than cure

In managing the bad loan problem, IBC should be the last resort for banks