Page 39 - Insolvency And Bankruptcy Code

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, .

Top headlines: All acquitted in Babri case, Apr-Aug fiscal deficit overruns

From special court acquitting all accused in Babri demolition case to General Atlantic investing in Reliance Retail, Business Standard brings you top news of the evening

Partial relief for firms as govt extends IBC suspension for three months

Companies were looking for a six-month extension; suspension doesn't apply to defaults before March 25

NCLAT sets aside NCLT order rejecting insolvency plea against Coastal Oil

The NCLAT''s direction came over a petition filed by Bank of India and Central Bank of India, challenging the NCLT order

Six-month IBC suspension ends today, decision on extension soon

Industry is backing an extension on grounds that the economy is still reeling under negative growth

NCLT to send Samay Electronics case to 3rd member after split verdict

The two-member Ahmedabad bench of the National Company Law Tribunal (NCLT) had delivered the split verdict on February 26, 2020

Stressed funds set to make beeline for India on spike in Covid-driven NPAs

Bankers expect bad debt worth $35 bn to be up for grabs, in addition to $110 bn already in the system; Blackrock, SBI Cap, Brookfield eyeing stressed assets

Parliament approves changes in IBC to protect Covid-stressed firms

Replying to a debate on the bill in the Lok Sabha, Finance Minister Nirmala Sitharaman said the amendments would provide relief to companies reeling under the impact of the coronavirus pandemic

Insolvency against corp debtors, personal guarantors can go together: FM

Finance Minister Nirmala Sitharaman on Saturday said law provides for carrying out insolvency and bankruptcy proceedings against corporate debtors as well personal guarantors together

FM Sitharaman moves bill in RS to amend Insolvency and Bankruptcy Code

Nirmala Sitharaman moved the bill for the amendment of the Insolvency and Bankruptcy Code, 2016 in the Rajya Sabha

Supreme Court rejects SBI plea for resuming IBC case against Anil Ambani

The case is among the first high-profile ones after rules were set for personal bankruptcy last year

250 distressed firms rescued under insolvency law till June: IBBI chief

The Insolvency and Bankruptcy Code has been in force for four years and provides for a time-bound and market-linked resolution framework for stressed assets

SBI's Rajnish Kumar urges investors to take part in stressed assets sector

He also reiterated that the Insolvency and Bankruptcy Code (IBC) is not a recovery mechanism for lenders, but rather a means to preserve the value of enterprises

Vedanta's Anil Agarwal, Centricus team up for turnaround investment fund

The fund will also target companies restructuring under India's bankruptcy regime, the people said

Anil Agarwal's Vedanta sole bidder for Videocon's 25% in Ravva oil block

Videocon is undergoing insolvency proceedings at the NCLT with a separate bidding process being undertaken for the Ravva block

NCLAT upholds NCLT order to initiate insolvency against Meenakshi Energy

A three-member bench has dismissed the plea filed by its director and its shareholder India Power Corporation Ltd observing that the company had committed default

Many companies are in default due to force majeure clauses: IBBI Chief

M S Sahoo said that the average life of S&P 500 companies has reportedly reduced from 90 to 18 years over the last century

NCLAT rejects plea challenging NCLT's resolution plan of Uttam Value Steel

Uttam Value Steels has an admitted debt of Rs 3,003 crore

Focus remains on restoring normalcy in operations: DHFL administrator

The pure play mortgage player is the first non-banking financial company/housing finance company to face a corporate insolvency resolution process

SBI invokes personal guarantees of Bhushan Power & Steel promoter

Action against Sanjay Singal comes within days of the Finance Ministry asking banks to invoke personal guarantees in all insolvency cases