Page 30 - Insolvency And Bankruptcy Code

The unfairness of real estate bankruptcy resolution

'Real estate bankruptcy laws ought to be completely overhauled to right this egregious wrong', said the author

NCLT rejects Siva Industries' debt resolution under IBC, orders liquidation

Siva Industries was admitted to the bankruptcy court on July 5, 2019

Financial creditors realised 36% of their total claims under IBC: Govt

The government on Tuesday said that financial creditors have realised Rs 2.45 lakh crore or 36 per cent of their total claims under the insolvency resolution process till the end of June.

Plea for insolvency doesn't get time barred even if filed after 3 yrs: SC

SC ruled that plea by financial creditor won't get time barred even if filed beyond a period of three years from the date of declaration of the loan account as NPA.

Finance Panel for appointing HC judges as NCLT members to reduce litigation

Bank funds worth Rs 9.2 trillion struck in NCLT; committee wants benchmark on quantum of haircuts as in many cases, they are as high as 95%

Insolvency process: Parl panel suggests benchmark for 'quantum of haircut'

The Insolvency and Bankruptcy Code (IBC), which came into effect in 2016, provides for a market-linked and time-bound resolution of stressed assets.

Crackdown on erring insolvency professionals, IBBI sets hefty penalties

The Centre has proposed a crackdown on insolvency professionals that develop nexus with companies facing bankruptcy proceedings thereby delaying the resolution process

Lok Sabha passes bill to amend insolvency law without debate

Minister of State for Corporate Affairs Rao Inderjit Singh moved the Bill for consideration and passage amid the din

The other side of IBC

Any restructuring of stressed accounts outside the IBC would not look credible till the performance of PSBs improves

Decoded: What is prepackaged insolvency resolution & how does process work?

The prepackage process for resolution has been popular in Europe and the US over the past decade

Govt introduces a Bill in the Lok Sabha to amend insolvency law

The government on Monday introduced a bill in the Lok Sabha to amend the insolvency law and provide for a pre-packaged resolution process for stressed MSMEs. The proposed amendments would enable the government to notify the threshold of a default not exceeding Rs 1 crore for initiation of pre-packaged resolution process. The government has already prescribed the threshold of Rs 10 lakh for this purpose. The Insolvency and Bankruptcy Code (Amendment) Bill, 2021 -- which was introduced by Corporate and Finance Minister Nirmala Sitharaman -- will replace the ordinance that was promulgated on April 4 as part of efforts to provide relief for MSMEs adversely impacted by the pandemic. The bill, which was introduced in the Lower House amid Opposition din over various issues, seeks to have a new chapter in the Code to facilitate pre-packaged insolvency resolution process for corporate persons that are Micro, Small and Medium Enterprises (MSMEs). Generally, under a pre-packaged process, main

Govt considers automatic route for creditors in IBC to speed up resolution

Such a move requires strengthening of information utility system: Official

IBBI amends regulations for more transparency and accountability

Resolution professionals (RPs) will be required to inform the adjudicating authority about avoidance transactions of a corporate debtor

IBBI amends regulations for insolvency process to enhance transparency

Seeking to enhance transparency in insolvency process, IBBI has amended regulations for corporate insolvency proceedings

Inappropriate timing, sentiment lead to haircuts in IBC: Experts

Several cases such as those of Videocon and Amtek Auto have seen erosion in value during the long-drawn process of resolving non-performing assets (NPAs)

Recovery of Rs 3,000 cr from 95 IL&FS entities to spill beyond Mar 2022

According to the Board, by March 2022, around Rs 58,000 crore, or 98 per cent of the estimated amount will be recovered

India sets up bad bank to reduce debt burden, free up lenders

National Asset Reconstruction Company Ltd's paid-up capital is Rs 74.6 crore

Banker's Trust: Has crony capitalism hijacked bad loan resolution?

If bankers move fast and preserve the enterprise value of defaulting companies, recovery rate will improve even as the new insolvency law, much like the GST, remains a work in progress

Best of BS Opinion: Repeal UAPA, bankruptcy process needs a re-look & more

Here are the best of Business Standard's opinion pieces for Friday

Bankruptcy process needs a re-look

A mechanism is needed to ensure bank-led resolution- not the NCLT- is the first resort for lenders