Insolvency and Bankruptcy Code

Insolvency and Bankruptcy Code News

FE best banks: ‘Don’t allow litigation to kill Insolvency and Bankruptcy Code’s spirit’

A recent central bank report had suggested that the recovery through the IBC was more than three times of that via other routes, including Board of Industrial and Financial Reconstruction (BIFR).

Looking back 2018: Recoveries of banks, financial institutions under IBC expected to improve

The IBC, under which cases started flowing in from January 2017, has been one of the biggest financial reforms in the current year to tackle non-performing assets (NPA) in the banking sector and is a precursor to banks restarting lending after getting back stuck capital.

Advertising

Insolvency law catalysed recovery of Rs 3 lakh crore in 2 yrs, says Injeti Srinivas

Explaining the numbers, the secretary said while the resolution of the 60 cases have so far yielded around Rs 71,000 crore, some Rs 50,000 crore is expected to be recovered from Essar Steel, which is at the advanced stage of being resolved.

Insolvency law help address Rs 3 lakh crore stressed assets in 2 years: Official

The estimated amount, included recoveries made through resolution plans and cases settled before admission by the National Company Law Tribunal under the Code.

Cross-border insolvency cases: Govt-appointed panel suggests UN model law

Insolvency Law Committee (ILC), constituted by Ministry of Corporate Affairs, said inclusion of cross-border insolvency chapter in the IBC would be a major step forward and would bring the law on par with that of matured jurisdictions.

Reform that isn’t

Insolvency and Bankruptcy Code showcases an NDA syndrome: Policies implemented without analysis.

Advertising

Insolvency: NCLT admits case against West Bengal govt entity

The Kolkata-based operational creditor is an entity of India Power Corporation, which is a Kanoria Foundation entity.

Why the Navy is closely watching an insolvent shipbuilder

The Indian Navy too is tracking the insolvency proceedings of ABG Shipyard after the Navy was forced last year to terminate shipbuilding contracts worth Rs 1,455 crore five years after it was first awarded to the firm.

Piyush Goyal introduces insolvency amendment Bill in Lok Sabha

The Bill replaced the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018, which was approved by President Ram Nath Kovind last month. A total of Rs 4 lakh crore worth of stressed assets are currently undergoing resolution under the IBC.

Draft on cross-border insolvency: Banks to get access to overseas assets of firms undergoing resolution

The draft norms have now been issued to plug loopholes and have any effective resolution mechanism in place for cross-border insolvency.

Advertising