Page 47 - Insolvency And Bankruptcy Code

Amended IBC sets threshold for initiating corporate insolvency cases

The IBC has taken a big step in providing a clean slate to buyers of stressed companies

The right reaction

Govt steps in again to protect the IBC

Stressed asset buyers get protection after Cabinet clears IBC amendment

Cabinet clears Code amendments to shield new owners from criminal liabilities

Govt clears IBC amendments to ring-fence successful bidders from risks

It assumes significance against the backdrop of instances of enforcement agencies taking action in case of companies where the resolution process has already been completed.

NCLAT stays NCLT directive making MCA party in all insolvency cases

The appellate tribunal's direction came over a petition filed by the government through the Ministry of Corporate Affairs (MCA) challenging the NCLT order

Three dangerous myths

The errors and misapprehensions that led to constant optimism about Indian growth

Will ensure regulations are 'grounded on realities': IBBI chairman Sahoo

Sahoo said the IBC has re-defined the debtor-creditor relationship and brought in significant behavioural changes among the stakeholders

DHFL insolvency proceedings: Irdai rules out troubles for two insurers

The two insurance subsidiaries of the crippled mortgage lender Dewan Housing Finance (DHFL) are unlikely to be impacted by the ongoing bankruptcy proceedings of their parent as they continue to have adequate solvency ratios, Irdai chairman SC Khuntia said on Friday. He also asked insurance companies to write off their exposure to the bankrupt DHFL as they did in case of IL&FS. DHFL, admitted for bankruptcy proceedings on December 3, has two insurance joint ventures -- DHFL Pramerica Life Insurance and DHFL General Insurance. DHFL Pramerica Life, launched in 2008, is a joint venture between DHFL Investments, a wholly-owned arm of DHFL, and Prudential International Insurance Holdings of the US, has Rs 4,675 crore assets under management and employs 3,100. DHFL General Insurance, on the other hand, is a fully-owned subsidiary of Wadhawan Global Capital, the holding company of the HDFL Group, and manages USD 18.6 billion assets through its lending, investment and ...

Odisha Slurry Pipeline bidding hots up as Thriveni offers Rs 4,000 crore

The 253-km slurry pipeline that the companies are vying for is critical to Essar Steel

Govt moves NCLAT against NCLT order making MCA party in all IBC cases

The appellate tribunal is expected to hear the case on Friday

Recoveries from Odisha Slurry Pipeline under CIRP could be low: Srei fund

IGOF has written to the resolution professional and the committee of creditors, requesting that OSPIL be withdrawn from CIRP

Firms under IBC: Govt to allow resolution professionals to make filings

The RP is not empowered to carry on compliances such as signing and uploading the audited and unaudited financial results

Govt plans to amend IBC 2016 to address cross-border insolvency: MS Sahoo

When IBC came in 2016, everything was new, and there was no insolvency professional, IBBI or all members of the NCLT, everything was created afresh, but it worked, he added.

In a first, RBI moves NCLT seeking insolvency proceeding against DHFL

An interim moratorium on the assets of the beleaguered company has also commenced following the RBI's application, and will continue till it is accepted or rejected by the NCLT

India's banks wrote off Rs 2 trillion worth of bad loans in 2018-19

Even as banks have written off more loans than before, recovery of bad loans has also improved substantially in the past couple of years

SBI Caps to give report on four bidders for Anil Ambani's RCom to CoC

The report will be presented to the committee of creditors (CoC) on Friday to take a final call on the potential best offers

Aviva Life settles Apeejay Trust's Rs 27-lakh insolvency case in NCLT

Earlier this month, the NCLT had ordered to initiate insolvency proceedings against Aviva Life Insurance in a case filed by Apeejay Trust

Govt may amend IBC, go for buyer protection and stricter homebuyers' norms

In October, Corporate Affair Secretary Injeti Srinivas said the ministry is mulling setting up of a threshold for home buyers for starting insolvency proceedings against real estate developers.

Ruling in Essar case a watershed moment in insolvency law, says IBBI chief

The Insolvency and Bankruptcy Code, 2016 envisages closure of a corporate insolvency resolution process in a time-bound manner

Lenders likely to opt for IBC for debt resolution of big accounts

May resort to debt recovery tribunals or Sarfaesi Act for the smaller ones