Page 5 - Insolvency And Bankruptcy Code

IBC enabled debt resolution of ₹26 trillion in 9 years, says Crisil

The Insolvency and Bankruptcy Code (IBC) has led to the resolution of Rs 26 trillion in debt over nine years, creating significant deterrence among borrowers and offering flexible resolution framework

Public sector bank NPAs drop to 2.58% from 9.11% in 4 yrs: Finance ministry

Gross NPAs of public sector banks dropped from 9.11% in 2021 to 2.58% in 2025, driven by RBI and government reforms, stricter recovery laws, and improved asset resolution frameworks

Nearly a decade into its existence, IBC framework needs to be reimagined

The famous "tareekh pe tareekh" dialogue from the Hindi movie Damini captures where we are now

Adani Group close to acquiring Jaiprakash Associates, makes ₹12,000 cr bid

With a cash payout of ₹3,500 crore, the Adani Group is leading the race to acquire Jaiprakash Associates. The offer also includes retaining ₹890 crore within the company after its acquisition

Parliamentary panel for dedicated NCLT, NCLAT courts for IBC cases

A parliamentary panel recommends dedicated NCLT and NCLAT courts to expedite IBC cases and urges the RBI Governor to support banking correspondents, who are facing increasing challenges in their roles

Parliamentary panel on finance to meet today, review IBC, emerging issues

The central government is likely to bring an amendment in the Insolvency and Bankruptcy Code (IBC) in the upcoming monsoon session of Parliament

Aakash Educational escalates tussle with EY over professional misconduct

Indian test-prep company claims consulting giant advised rival Allen Career Institute while handling its own financial affairs and Byju's insolvency case

SBI flags Reliance Comms loan as fraud; Anil Ambani's name sent to RBI

State Bank of India's forensic audit cites fund diversion and loan violations; Reliance Communications says it is protected under the Insolvency and Bankruptcy Code

Breaking up bad assets: Can IBBI's part-resolution rewire insolvency rules?

In a May notification, the Board allowed resolution professionals to invite resolution plans for not just the company as a whole but also for sale of one or more of its assets

Gensol Engineering admitted to insolvency by NCLT on Ireda petition

Ireda called for immediate oversight, stating Gensol had essentially become 'headless' following the departure of its senior leadership during the regulatory investigation

IBC in stress: Survival depends on commitment to its core principles

Public laws aim to keep the crime proceeds beyond the reach of criminals while punishing the criminals. Although these proceeds were never the state's property, state benefits from their confiscation

Gensol insolvency: NCLT admits Ireda's plea on ₹510 crore default

NCLT Ahmedabad admits two Gensol entities to insolvency proceedings under IBC on Ireda's plea, citing defaults totalling ₹729 crore; resolution professional to be appointed

Bank of Baroda tops bidding for Jet Airways' BKC office in insolvency auction

A government-appointed liquidator listed the entire floor of the 19-storey tower for sale last month, setting a reserve price of ₹335.24 crore for the prime commercial property

CoC extends Jaiprakash Associates resolution plan deadline to 24 June

Following requests from prospective bidders, the Committee of Creditors for Jaiprakash Associates has extended the resolution plan submission deadline to 24 June 2025

Surety bonds' market faces multiple growth challenges despite govt push

The issuance of such bonds remains muted due to several challenges, such as collaboration between banks and insurance firms, data sharing, and regulatory parity, among others

Byju's co-founder moves NCLT to remove GLAS Trust from creditors' panel

Byju's co-founder Riju Ravindran has approached NCLT, alleging GLAS Trust falsely claimed creditor status and seeking its removal from the Committee of Creditors in the ongoing insolvency case

NCLAT suspends insolvency proceedings against Reliance Infrastructure

Reliance Infra says it has fully paid dues claimed by Dhursar Solar Power as NCLAT puts on hold NCLT's May 30 order initiating insolvency against the firm

Big relief to Reliance Infra as NCLAT stays insolvency proceedings

NCLAT suspends insolvency order by NCLT after Reliance Infra argues it has cleared ₹92.68 crore dues linked to Dhursar Solar Power; next hearing set for July 18

Parliamentary panel to review IBC and propose reforms for efficiency

The Centre is expected to table an amendment Bill in the monsoon session as a parliamentary panel examines the Code amid concerns flagged by the Supreme Court

Gensol, BluSmart face insolvency heat as NCLT issues fresh notices

Last week, NCLT also allowed the Centre to freeze the bank accounts and lockers of Gensol Engineering Ltd and many of its subsidiaries after investigations revealed major financial irregularities