Page 35 - Insolvency And Bankruptcy Code

Record steel prices help firms acquired under insolvency code out of red

Tata Steel BSL has posted a profit of Rs 913.19 crore in the December quarter, its highest since its acquisition by Tata Steel in 2018

IBC redefines debtor-creditor relationship, says Economic Survey

IBC has ushered in significant behavioural changes, the survey said

NCLT begins insolvency proceedings against The Pioneer group firm

Interim resolution professional appointed; public notice issued

Supreme Court upholds changes in IBC to initiate case against debtor firms

Justice Joseph, who wrote the 465-page judgement for the bench, upheld the amendments made in Sections 3, 4 and 10 of the IBC (Amendment) Act 2020

Brace for selective interest in stressed assets

With looming uncertainty, investors will be very selective, cautious and careful in allocating funds towards this asset class

Banks vote in favour of Piramal offer for DHFL, see holes in Oaktree bid

With this Piramal succeeds in getting the requisite 66 per cent voting, says source

DHFL a test case whose successful resolution is critical for banking sector

Reports suggest a potential recovery of 35 per cent from the bid process compared to an average recovery of seven per cent

MCA proposes pre-packaged insolvency resolution process for Covid defaults

The future phases would cover a default above Rs 1 crore, followed by Rs 1 to Rs 1 lakh

Prepack insolvency resolution: Swiss Challenge options, IBC tweaks on cards

The prepack is to start with a base resolution plan (BRP), which will face a Swiss Challenge; and this should come from the promoters if they are eligible and interested

Nithia Capital, CarVal Investors complete purchase of two Uttam Group firms

Total consideration Rs 2,000 cr; companies were on RBI's second list of NPAs mandated for resolution under IBC

Videocon lenders, 12 other group companies to meet on Tuesday under IRP

The lenders of debt-ridden Videocon Industries and 12 other group companies will meet on Tuesday under the insolvency resolution process (IRP)

Not a penny to equity holders as DHFL bidders value firm's shares at zero

Investors baffled as DHFL had a market valuation of Rs 941 cr on Monday, with its stock trading at Rs 30 a share even after the company was sent for bankruptcy proceedings

ArcelorMittal, JSW Steel among six firms keen on buying Uttam Galva Steel

Uttam Galva's total admitted claims are Rs 9,070.66 crore, with ArcelorMittal having an 87 per cent voting share among financial creditors

DHFL's sale poses legal hurdle for Oaktree due to insurance JV stake

Insurance sale before DHFL sale would have eliminated regulatory uncertainty, say lawyers

DHFL bidder selection: Oaktree Capital asks lenders for fair treatment

Oaktree and Piramal Group are engaged in neck and neck competition to get control of the mortgage lender, for which the selection process has entered the final stage

India's two looming challenges

Government's New Year resolutions should be to revive domestic demand while addressing the Chinese threat

Centre extends suspension of fresh insolvency cases by another 3 months

The government has again extended the suspension of fresh proceedings under the insolvency law by three more months amid the disruptions caused by the coronavirus pandemic. A notification for a three-month extension of the suspension, which was to end on December 24, was issued by the corporate affairs ministry on Tuesday. The three-month period would be from December 25. An ordinance was promulgated in June this year for suspension of fresh insolvency proceedings and the same came into force retrospectively from March 25 -- the day when the nationwide lockdown to curb spreading of coronavirus infections had come into effect. Later, a bill to replace the ordinance that had amended the Insolvency and Bankruptcy Code (IBC) was cleared by Parliament in September. Initially, the suspension of fresh proceedings under the IBC was for six months starting from March 25 and then, it was extended by three months. Now, the suspension has been further extended by three months which will end o

Best of BS Opinion: Wrong call on IBC, Paris agreement, and more

Here's a selection of Business Standard opinion pieces for the day

IBC to remain 'rightfully' suspended till FY21 end: FM Sitharaman

Suspension not applicable to defaults committed before March 25, 2020

Wrong call on IBC

Govt should not have extended suspension of bankruptcy work