Page 43 - Insolvency And Bankruptcy Code

GST compliance of companies under IBC: Gaps in the new mechanism

The gaps need to be plugged immediately if this long-standing issue has to be addressed keeping in mind the intent and objectives of IBC, 2016

Coronavirus outbreak: Govt mulls suspending IBC process for 6 months

The finance minister also announced a slew of measures to provide cushion to companies on compliances.

Insolvency law a 'Swachhata drive' against non-performing asset: IBBI chief

The Code provides for a time-bound and market-linked resolution of stressed assets. If the resolution does not happen, the company concerned goes into liquidation.

Banks to add Rs 770 cr to their Q4 bottomline with JSL exit from CDR

Earlier this month, JSL announced its exit from CDR framework. The company received a letter from the consortium of CDR lenders to this effect on March 4.

A year of challenges

Bigger companies in general performed better than their smaller peers

Govt ramps up capacity of the NCLT Benches to boost decision-making

Since inception, close to 62,000 cases came to the NCLT. These include the ones which transferred from board of industrial and financial reconstruction and high courts

Raising threshold for insolvency: Good for NCLT, bad for smaller creditors

Experts are of the view that a substantial increase in threshold might affect certain sectors severely

Dealing with pandemic: Buyers, sellers need to reassess impact of COVID-19

Travel restrictions and other clampdown measures make time-critical deal-making a challenge, leading to legal and regulatory complications, say experts.

Justice S J Mukhopadhaya: 'Argumentative' outgoing NCLAT chairman

Mukhopadhaya's recent ruling restoring Cyrus Mistry as Tata Sons chairman came as a rude shock to the salt-to-software giant

Parliament passes amendments to Insolvency and Bankruptcy Code Bill

The Insolvency and Bankruptcy Code (Amendment) Bill, 2020 was passed by voice vote in Rajya Sabha. It was approved by Lok Sabha on March 6

Jet Airways lenders to seek 90-day extension for resolution process

An extension of up to 90 days may be sought from the National Company Law Tribunal

Just 10% of defaulted loans in non-major cos recovered under IBC: Ramesh

The first objective of the IBC was to save companies but with a mortality rate of 80 per cent it is not life saving, said Jairam Ramesh

Banks turn wary post IBC, tighten lending norms for labour-intensive units

RBI data shows a sharp fall in growth of outstanding loan for sectors like tea, textiles, glass and gems & jewellery

It's the incentives, stupid

The most important post-mortem required after the YES Bank crisis is about flawed incentives of bankers and officials

Lok Sabha passes Insolvency and Bankruptcy Code Bill amid noisy protests

Finance Minister Nirmala Sitharaman sought the cooperation of the members to pass the Bill in the House.

IBC provides new lifeline to save stressed firms from premature deaths

The insolvency law provides a new lifeline for stressed companies to save them from premature death, IBBI Chairman M S Sahoo said on Friday. The Insolvency and Bankruptcy Code (IBC) provides for a time-bound and market-linked resolution of stressed assets. Speaking at an event here, Sahoo said the IBC provides a new lifeline to a company which has a value and has to be saved from premature death. Exemplifying his point, Sahoo said the average life of S&P 500 companies has reportedly come down from 90 years to 18 years over the last century. There is a kind of danger to the life of a business and at times, freedom results in unfair battles at market place, he noted. As many as 190 companies have been rescued till December 2019 through resolution plans and they owed Rs 3.8 lakh crore to creditors. The Insolvency and Bankruptcy Board of India (IBBI) is a key institution in the insolvency ecosystem.

'Earlier govts favorable to defaulting industrialists, IBC changed culture'

Justice Ramana said that despite selling the properties of the company and passing a winding-up order, only 5 to 10 percent of the investment could be realised

SBI board allows RCom resolution plan, lenders to get Rs 23,000 cr: Report

RCom's secured debt is estimated to be around Rs 33,000 crore

NBCC gets NCLT nod to acquire Jaypee Infratech through insolvency process

In its hearing on Tuesday, the Principal bench of NCLT,headed by Acting President B S V Prakash Kumar, gave a go-ahead to the resolution plan of NBCC

Realisation of 823 firms under IBC only 7% of admitted claims till January

Till January, financial creditors had recovered around 44.01 per cent