Page 33 - Insolvency And Bankruptcy Code

Insolvency law changes to give better resolution framework for MSMEs: Govt

The government on Wednesday said the latest amendments to the insolvency law by way of an ordinance are aimed at providing an efficient alternative resolution framework for MSMEs

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IBC in the slow lane: CIRP cases decline almost 12%, shows IBBI data

New corporate insolvency being at halt reflected in the continuing drop in the number of ongoing corporate resolution cases in the October-December period

Covid-19 defaulters can use MSME pre-packaged insolvency scheme

The detailed rules of the scheme specifying the minimum threshold of default will be notified soon

IBC ordinance allows prepack for MSMEs, eases resolution with minimum pain

Ordinance is designed to ensure quicker, cost-effective and value maximising outcomes for all stakeholders in a manner that least disrupts their businesses and preserves jobs too

Pre-pack problems

MSME Ordinance violates basic principle of IBC

Govt amends insolvency law; introduces pre-packaged resolution for MSMEs

Seeking to provide a quicker and value-maximising outcome for stressed MSMEs, the government has introduced a pre-packaged resolution process for such enterprises by amending the insolvency law.

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Market in distressed assets may be huge, but deal-making faces headwinds

With the Supreme Court vacating the one-year breather on the filing of insolvency proceedings, it's back to the grind on the bad-loans front

Statsguru: IBC mechanism ready to take up cases after a year-long hiatus

As many as 1,942 cases are currently going on under the Code (as of Septem­ber 2020)

Banks brace for fresh round of war against NPAs

As it prepares to bring to a close the most difficult year in history, the banking industry is gearing up to tackle a fresh bout of bad loans

Orchid Pharma rises from ashes, expects to make profits in 12 months

Dhanuka Pharmaceuticals that took over the company almost a year ago, nursed it back to health from bankruptcy

Normalcy restored for resolution of stress under IBC: IBBI's M S Sahoo

IBBI Chairperson M S Sahoo on Thursday said "normalcy" has been restored with respect to resolution of stress under the insolvency law, with the expiry of suspension of fresh proceedings. After a year of relevant provisions being suspended amid the coronavirus pandemic, fresh proceedings under the Insolvency and Bankruptcy Code (IBC) can now be initiated. Certain provisions under the Code, which provides for time-bound and market-linked resolution of stressed assets, were suspended with effect from March 25 last year in the wake of the pandemic significantly impacting business activities. The suspension, which was in place for one year, ended on March 24. IBBI (Insolvency and Bankruptcy Board of India) Chairperson M S Sahoo on Thursday said three things are clear now. "On Tuesday, the Supreme Court cleared the haze around moratorium on loans. Second, the suspension on initiation of corporate insolvency proceedings in respect of COVID-19 defaults expired on Wednesday. Third, the ...

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Govt should now focus on strengthening the NCLT

IBC activity likely to see gradual rise after resumption, say experts

The CIRP, which was suspended in light of the Covid-related stress, covers a one-year period ending March 24, 2021

ArcelorMittal makes the cut, emerges as sole bidder for Uttam Galva Steels

Six other firms, including four steelmakers, had submitted an expression of interest (EOI) for the debt-laden firm

Banks to send more cases to bankruptcy courts even as old ones lie stagnant

Several roads, real estate and power companies are headed to the bankruptcy courts once the one-year ban imposed by the RBI lifts in the coming week

Govt to announce forensic auditing norms, bring clarity in fraud detection

Standards used now are not clear, resulting in hundreds of cases across India courts filed by borrowers, companies and individuals

NCLT approves Haldia Petrochemicals scheme to revive Nagarjuna Oil Corp

Haldia Petro is planning to invest around Rs 50,000 cr to convert this refinery into a petrochemical complex

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