Page 38 - Insolvency And Bankruptcy Code

Jet Airways will have to reapply for slots, have 20 planes for global ops

When it shut operations, Jet Airways had close to 700 such slots pair including 116 and 214 in prime airports of Delhi and Mumbai

Lanco Infratech and lessons from a failed group resolution of troubled debt

The firm fundamentally has no assets, say experts. Ten of its subsidiaries are under corporate insolvency, most holding either a single or a group of road or power assets

Under the IBC, enforcing personal guarantee remains a tall order

Insolvency law experts say that invoking personal guarantees goes against the spirit of the IBC

Little relief in sight for RCom lenders 17 months after insolvency action

Insolvency against bankrupt telecom company and two arms restarted last May after NCLAT lifted stay on proceedings; Rs 91,000 crore worth claims have been admitted against the firm.

Liberty Steel restarts production at Adhunik facility, restores 1,500 jobs

Adhunik will transition into GREENSTEEL - a model combining steel recycling with low carbon and renewable power sources - to create a more sustainable competitive operation

Asia defies dire predictions of a massive spike in corporate bankruptcies

Lockdowns worldwide prompted by the coronavirus outbreak have wrecked economic growth and led to bankruptcies of firms

Videocon insolvency case: Dhoot family offers to pay Rs 30k cr to lenders

A proposal for paying the amount has been forwarded to the Committee of Creditors (CoC) of the Videocon Industries, Venugopal Dhoot told PTI

Lenders waiting for Godot in Videocon insolvency as IBC wheels turn slow

Banks have been waiting for their dues since 2017 as the issue over naming of resolution professional and consolidation of all group firms into one resolution plan delayed the whole process

Losing momentum: Three years on, Amtek Auto still awaits IBC resolution

After an encouraging start, the IBC, launched by the Modi government in 2016, is losing momentum. The first of a 5-part series looks at Amtek Auto's resolution process

Adani, Piramal, Oaktree and SC Lowy submit bids for troubled DHFL

Oaktree bids for entire company, Piramal for retail loan book

Explained: How Uttam Galva Steels lost its sheen amid mounting debts

The promoter group's deal-making capabilities have come back to haunt it

DHFL lenders brace for haircut after foreign bidders back out of race

Only two firms in race for retail, wholesale, and slum rehabilitation authority portfolio

Falling out of favour: Consultancies and law firms suggest IBC revamp

Investors feel IBC's promised twin benefits - a time-bound process and assurance of a clean slate - don't necessarily come through

Trio of women lawyers push for change in India's creaking legal corridors

The three women represent a visible change in the country's legal landscape but they are also reminders of how much more needs to change in this nation of 1.3 billion

DHFL case: Auditor reports fraudulent transactions worth Rs 2,150 crore

DHFL is undergoing resolution process under the Insolvency and Bankruptcy Code

Lenders to consider Videocon promoters' application for debt resolution

If the lenders agree to the proposal made by VIL's promoters, then it will be one of the first big ticket debt resolution by the lenders via Section 12A of the IBC

Need restructuring, not bankruptcy

Most stressed lenders should go into restructuring with the IBC being its bedrock

Pause in IBC, internal issues halt takeover of stressed projects

Big developers are in wait-and-watch as leveraged developers have made use of the six-month loan moratorium, effectively avoiding defaults

Successful resolution applicants cannot be allowed to withdraw offer: NCLAT

A three-member NCLAT bench said the sanctity of resolution process has to be maintained and such withdrawal by a successful bidder "frustrate" the entire exercise of CIRP

With IBC, non-repayment of loan no more an option: CAG Murmu

The insolvency law has led to a significant behavioural shift among borrowers as non-repayment of loan is no more an option and ownership of a firm is no more a divine right, Comptroller & Auditor General of India G C Murmu said on Thursday. According to him, this behavioural shift has resulted in substantial recoveries for creditors outside the Insolvency and Bankruptcy Code (IBC) and improved the performance of firms. Delivering 'IBC: Adaptability is the key to Sustaining Reforms in the Times of a Pandemic' lecture on the occasion of the fourth annual day of the Insolvency & Bankruptcy Board of India (IBBI), Murmu said one of the most remarkable achievements of the Code was that it has led to a significant behavioural change among the debtors and creditors alike. "It is further motivating them to make the best efforts to avoid default. Further, it encourages the debtor to settle default with the creditors at the earliest, preferably outside the Code. With the Code in place, .