Page 3 - Liquidation

Eye on maximum value, lenders say no to Reliance Capital liquidation

"Lenders will decide on the further course of action, including the stance for negotiations on Friday," the source said

RCap liquidation or negotiation? CoC to meet on Tuesday to take a call

While Deloitte, the process advisor to RCap's administrator, is said to be rooting for liquidation, CoC advisor KPMG hopes to close deal and award the firm to highest bidder

Independent valuations 70% more than bankrupt Reliance Capital bids

In November last year, the Reserve Bank of India had sent the company to debt resolution after it defaulted on its loans worth Rs 24,000 crore

Grounded Jet Airways' cabin crew association moves NCLT for liquidation

Banks oppose consortium plea for handover of the company

After 14 years, Lehman Brothers' brokerage ends liquidation process

The liquidation of Lehman Brothers' brokerage unit has ended, 14 years and 13 days after its parent's bankruptcy helped trigger a market freefall and global financial crisis

IBBI fixes timelines for the liquidation process to reduce delays

If any claim is not filed during the liquidation process, the amount of claim collated during CIRP should be verified by the liquidator

IBBI amends regulation to boost value of stressed cos undergoing insolvency

In a move that will provide better market-linked solutions for stressed companies, watchdog IBBI has amended its regulations to allow sale of one or more assets of an entity undergoing insolvency resolution process, besides other changes. Also, the Committee of Creditors (CoC) can now examine whether a compromise or an arrangement can be explored for a corporate debtor during the liquidation period. The Insolvency and Bankruptcy Board of India (IBBI) has amended the regulations with the "objective to maximise value in resolution" and they came into effect from September 16. As many as 1,703 Corporate Insolvency Resolution Processes (CIRPs) ended up in liquidation till the end of June this year. The regulator has permitted a resolution professional and the CoC to look for sale of one or more assets of the corporate debtor concerned in cases where there are no resolution plans for the whole business. The Insolvency and Bankruptcy Code (IBC) provides for a market-linked and time-boun

Nearly half of insolvency proceedings led to liquidation rather than rescue

IBBI latest data suggest only 14 per cent yielded resolution plans since the inception of IBC

Debt recovery via insolvency cases at 31%; 47% cases liquidated: Report

Nearly half of the 3,247 insolvency cases have been resolved through liquidation, and only a paltry 457 or 14 per cent of them through asset sale as per their lenders-approved resolution plans, a report said on Friday. Even the various resolution processes have witnessed the recovery of debt of just 31 per cent on an average, said the data from the Insolvency & Bankruptcy Board of India. The data which covers all the cases since the implementation of the Insolvency and Bankruptcy Code (IBC) five years ago till December 2021 reflects very slow pace of the process, according to an analysis by Icra Ratings. Liquidation means lenders or financial firms face the maximum brunt of losses on their books. Of the Rs 7.52 lakh crore claims made by the creditors on their borrowers, the lenders could realise only Rs 2.5 lakh crore, reflecting the pains of liquidation that lenders were forced to suffer, Icra Ratings said in its analysis. While various NCLTs (National Company Law Tribunals) have

IBBI reduces timelines for activities under voluntary liquidation process

According to an official release, it has been noticed that there has been a substantial delay in the completion of voluntary liquidation process

IBBI amends voluntary liquidation process regulations to streamline it

The Insolvency and Bankruptcy Board of India (IBBI) has amended regulations pertaining to voluntary liquidation process as part of efforts to streamline the process. Anoop Rawat, Partner (insolvency & bankruptcy) at Shardul Amarchand Mangaldas & Co, said the amendment seeks to streamline the voluntary liquidation process by reducing the timelines and imposing greater responsibilities on liquidator. "The requirement of new form H relieves some burden off the adjudicating authorities, with relevant data and satisfaction of compliance checks being available to it in a structured tabular format. "This shall aid in further enhancing the freedom of exit for the investors in line with India's ambitious goals of providing ease of doing business to investors during all the phases of the life-cycle of businesses," Rawat said. IBBI, a key institution in implementing the Insolvency and Bankruptcy Code (IBC), has notified the changes in the voluntary liquidation process regulations.

Cloud kitchen unicorn Rebel Foods announces ESOP liquidation worth $10 mn

Founded in 2011 by Jaydeep Barman and Kallol Banerjee, Rebel Foods started its journey with Faasos in Pune

RBI believes differing policy strategy, policy stance can co-exist: Report

Bond yields have shed seven basis points to 6.73 per cent on Thursday after touching 6.88 per cent on the Budget day

Delhi HC stops coercive action by ED against firms under liquidation in IBC

In a detailed ruling on interplay between IBC and PMLA, the court allowed a writ petition by a liquidator to proceed with the liquidation process of a corporate debtor

No income tax NOC/NDC required for voluntary liquidations, says IBBI

Section 178 of the Income-tax Act, 1961 obligates a liquidator to fulfil certain income tax related requirements

Nearly 47% closed cases under IBC in liquidation till June, says IBBI

Nearly 47% closed under the insolvency law ended up in liquidation till the end of June but economic value in majority of the cases had eroded even before commencement of the corporate insolvency

IBBI proposes amendments in liquidation norms to increase transperancy

In a bid to increase transparency in the liquidation process under the Insolvency and Bankruptcy Code (IBC), IBBI has proposed amendments to the regulations

NCLT rejects Siva Industries' debt resolution under IBC, orders liquidation

Siva Industries was admitted to the bankruptcy court on July 5, 2019

Pegasus scandal: NSO owner likely to be liquidated, says report

The development will represent another twist in the escalating scandal over the activities of NSO

NCLAT stays liquidation of Three C Homes; asks NCLT to consider options

The National Company Law Appellate Tribunal has set aside NCLT's direction to liquidate Three C Homes and ordered that other options be considered for resolution of the debt-ridden realty firm.