Page 36 - Insolvency And Bankruptcy Code

Wrong call on IBC

Govt should not have extended suspension of bankruptcy work

Barely a week before the deadline, IBC resumption hangs in balance

The official said that while on the one hand green shoots were visible in the economy and the stock market was booming, on the other things were not moving under IBC

A year of ArcelorMittal Nippon: A 'new type of steel company' in the works

Firm claims Covid has had no long-term impact, growth plans are on track and target of reaching 12-15 million tonne output remains

More than 60% of insolvency proceedings led to liquidation in Sep quarter

Liquidations were only one-third of total cases closed in the previous quarter

Liquidations under IBC in Q2 jump, new applications remain subdued

Critics of the IBC have often pointed out that the delays in admission, resolution and liquidation might be making it an unattractive proposition

JSW Steel sees mettle in bankrupt asset amid upturn in steel market

An upturn in the steel market has prompted the country's third-largest steel producer to up the ante on acquiring Bhushan Power

Increased Parliament efficiency, but far fewer bills sent to Panels

The 16th Lok Sabha passed 15% more Bills than the previous one, he said, adding that in these five years, 60% of the passed Bills have been debated for at least 2 hours

JSW Steel sweetens offer by Rs 400 cr to close Bhushan Power deal

Proposal was made last week, payment subject to bank guarantee or indemnity from lenders, so that in case SC rejects resolution plan, settlement amount will be reversed

Top court to hear matter on insolvency of personal guarantors tomorrow

In the last hearing on Oct 29, SC had transferred to itself all petitions pending before various High Courts, challenging IBC provisions on the issue

From blacklisting norms to row over foreign award, here're top court orders

A selection of key court orders

Decoded: Unravelling the legal tangle around revised bids for DHFL

The DHFL saga has put the spotlight on the legal ambiguity in accepting bids beyond stipulated deadlines

Realisations through IBC to take a hit of up to 40% in FY21: Icra

Covid-19 outbreak, suspension of new proceedings under IBC has sharply slowed down resolution process causing realisation for financial creditors to decline

Beleaguered DHFL posts Rs 2,122-crore net loss in September quarter

The company reported revenue from operations to the tune of Rs 2,204.81 crore for Q2FY21

IBBI proposes mechanism to allow withdrawal from voluntary liquidation

The process to rescind would be the same as was followed to initiate it - approval by a special resolution, passed by members or partners

Draft pre-packaged scheme for insolvency largely based on British law

Rules to ensure that process doesn't remain debtor-driven but protects creditor's interests

IBBI allows transfer of illiquid assets and debt for quicker case closure

The rules come at a time when the liquidation process takes much longer than envisaged under IBC

PMLA clean chit to Chanda Kochhar may help Videocon debt recast plan: Dhoot

The company's promoter Venugopal Dhoot said their application is currently pending with the Committee of Creditors, which will soon vote on their proposal

Lavasa hill city hits dirt; lenders may send company to liquidation

Lavasa, a subsidiary of construction major HCC, has defaulted on bank loans worth Rs 7,700 crore

India Inc needs to respond to various reforms undertaken by govt, says CEA

He said that India is the only country which utilised the opportunity provided by the current crisis to unleash the second generation reforms that are focused on factor markets

Best of BS Opinion: J&K 'integral' reforms, insolvency process, and more

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