Page 55 - Insolvency And Bankruptcy Code

Bankruptcy Code: Finance professionals on a roll as NCLT cases surge

With 600-700 new NPA cases getting admitted into NCLT every month, demand for Resolution Professionals is on the rise; their number has more than doubled in less than a year

Changes in IBC may help ArcelorMittal place a fresh bid for Essar Steel

Insiders said both bids have failed the legal eligibility test, as ArcelorMittal held 29% stake in Uttam Galva Steels, an NPA for over a year

Promoter conundrum: Small oversights could undermine IBC's effectiveness

The Insolvency and Bankruptcy Code (IBC) is India's best chance at tackling its crisis of bad debt

Rising litigation mars debt resolution under Insolvency and Bankruptcy Code

Essar Steel, Bhushan Power & Steel bidders may go to court

IBC: Amendment debarring defaulting promoters may be challenged in court

The insolvency and bankruptcy process is entering the decisive phase where some big-ticket stressed assets are up for grabs

Market economies need responsible, ethical professionals, says MS Sahoo

IBBI is the regulator of insolvency resolution professionals and it has been given the temporary responsibility of regulating VPs

Sebi forms special internal team working on relaxation for IBC companies

Easing of delisting rules and exemption from minimum public shareholding norms are among the key proposals; report in 2 months

Dissenting lender to be paid liquidation value

Amendments to the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations say liquidation value to be paid to dissenting lenders will have to be kept confidential

Lok Sabha passes Insolvency and Bankruptcy Code amendment bill

IBC provides for a time-bound insolvency resolution process

All promoters not debarred from bidding: NCLT

The tribunal said the intent of the ordinance was not to disqualify promoters as a class from submitting resolution plans

Insolvency ordinance: SME promoters may get leeway

The government move is driven by the realisation that SMEs are usually promoter-driven and attract resolution mainly from the promoters themselves

IBC 2016: Time to reboot the Code

Experts, including stakeholders such as bankers, lawyers, investors and promoters, feel the time is right for the Code to incorporate the lessons learnt in its year-long journey

Revised IBC: Lenders brace for higher haircuts

Haircuts might go up in some situations linked to the resolution plan, especially where number of bidders are less

Amendments to bankruptcy code comforting for new investors: Stakeholders

New ordinance barred defaulters from bidding for stressed assets

President Kovind gives nod for Insolvency and Bankruptcy Code ordinance

Union cabinet had forwarded the ordinance with changes for the President's assent

New ordinance will strike wilful loan defaulters another body blow

Finance Minister Arun Jaitley is scheduled to brief the media later today

Cabinet okays changes to insolvency and bankruptcy code to block defaulters

Changes to help prevent wilful defaulters from bidding for stressed assets

Insolvency and Bankruptcy Code: 14-member panel formed address issues

With rising number of cases under the Insolvency and Bankruptcy Code, the government has set up a 14-member panel to identify and suggest ways to address issues faced in implementation of the law. The Insolvency Law Committee, chaired by Corporate Affairs Secretary Injeti Srinivas, would take stock of the implementation of the Code, according to an official communication. The move also comes against the backdrop of concerns in certain quarters about various aspects of the law including the possibility of promoters wresting back control of a company under insolvency process. Insolvency and Bankruptcy Board of India (IBBI) Chairperson M S Sahoo, RBI Executive Director Sudarshan Sen, former Lok Sabha Speaker T K Viswanathan, Edelweiss Group Chairman and CEO Rashesh Shah, Shardul Amarchand Mangaldas & Co Executive Chairman Shardul Shroff and Xpro India Chairman Sidharth Birla are among the panel members. Other members include AZB & Partners Partner Bahram Vakil, SBI

Insolvency and Bankruptcy Code: Keeping promoters at arm's length

Many experts feel the spirit of the Code is compromised if original promoters get back control of their distressed assets

Insolvency rules for corporate guarantors, individual firms by December

The Rules for individual insolvency under the Insolvency and Bankruptcy Code are likely to be notified by December."It will come in a phased manner. At this point, we are trying to cover corporate guarantors. That is our main issue. In the first phase, we are dealing with corporate guarantors and individuals having business like proprietorship firms," Ranjita Dubey, deputy general manager, Insolvency & Bankruptcy Board of India (IBBI), said.Dubey was speaking on the sidelines of a round table on draft insolvency regulations on individuals and firms organised by the IBBI, in association with ICSI Insolvency Professional Agency and Merchants' Chamber of Commerce & Industry.Mamta Binani, Chairperson, Standing Committee on Corporate Law & Governance, MCCI, explained that, so far, the Rules were only in respect of the Corporate Insolvency Resolution Process and the rules concerning individuals and partnership firms were due to come. "The Insolvency and Bankruptcy Board of India