Page 42 - Insolvency And Bankruptcy Code

Firms red-flag pitfalls of IBC suspension; law's future unsure, say experts

With the Insolvency and Bankruptcy Code, which was the instrument lenders had to make their borrowers fall in line, suspended for a year, many say this makes uncertain the future of a landmark law

What steps did the govt take to prevent MSMEs from defaulting on loans?

Two important steps have been taken in this regard by the govt

New-look inter-creditor agreement on the cards as IBC process suspended

The Indian Banks' Association can be expected to begin formal discussions with the wider banking fraternity over the next fortnight

IBC suspended for a year, Covid-19 related debt exempted from default

The Corporate Affairs ministry will issue a special circular to define the time period which will cover "covid related debt" to be exempted from default, the finance minister said

Suspension - Boon or bane for the Insolvency and Bankruptcy Code

While the announcements were made today, the seeds of the repeal of Sections 7, 9 and 10 of the IBC had already been sown in April

No fresh insolvency to be initiated for 1 year under IBC: FM Sitharaman

Minimum threshold to initiative insolvency proceeding has been raised to Rs 1 crore from Rs 100,000 to benefit MSMEs

NCLT orders insolvency procedure for Eason Reyrolle on SBI, Canara plea

The banks together claimed over Rs 230 crore from the company, along with interest and other charges

Jet lenders to take a call on fresh EoIs, voting to conclude by May 18

If lenders favour fresh EoIs, this will be the third time they would have called for EoIs. No positive result in previous two attempts as no party came forward with a concrete plan

Best of BS Opinion: The economic fallout, coronavirus outbreak, and more

Here is a summary of Business Standard opinion pieces for the day

Say no to banks

Suspending IBC for an extended period would destroy it

Giving teeth to bankruptcy code

By adopting a few steps many companies that have no alternative but to go to the NCLT to keep themselves from closing down can be saved

Banks want IBC proceedings in all pending cases to be suspended for 2 years

Fall in valuation, lack of demand cited as reasons

Top biz headlines: Stimulus package for industry, IBC breather and more

Here are the top 10 business headlines on Friday morning

India Inc gets IBC breather for six months amid coronavirus outbreak

Section 7 of the Code enables financial creditors to start insolvency proceedings against a company, while section 9 gives these powers to an operational creditor

Govt to suspend up to 1-year IBC provisions that trigger insolvency cases

The sources said an ordinance would be promulgated to suspend three sections of IBC for up to one year and a decision in this regard was taken by the Union Cabinet on Wednesday.

Focus on capital formation policy

It is vital to ensure that the clamour for suspending bankruptcy laws does not translate into reality

Flattening the bankruptcy curve: Why IBC cases may surge post-lockdown

Shroff is in favour of introducing a new chapter to the Insolvency and Bankruptcy Code (IBC) with temporary provisions

Bidders jittery over coronavirus impact on bankrupt firms, seek legal help

Seek legal advice, want force majeure clause included in new contracts

Cash-strapped DHFL not to make any payment to lenders, bondholders

The Corporate Insolvency Resolution Process (CIRP) was initiated against the debt-ridden company as per the provisions of the Insolvency and Bankruptcy Code, 2016 with effect from December 3, 2019

Dhanuka Lab implements resolution plan for debt-ridden Orchid Pharma

The resolution plan will fetch the secured lenders around 32.3% recovery