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Insolvency and Bankruptcy Code

31 Dec 2021

Centre seeks comments on proposed changes to insolvency law ahead of Budget

The Centre is inviting recommendations on provisions related to the time period for approval of resolution plans. Comments on rules related to avoidable transactions and wrongful trading are also welcome. The Central government has sought comments on the recent proposals by January 13, 2022.

11 Sep 2021

DHFL insolvency case: Here’s why RBI’s IBC route didn’t work for the lender

The IBC process was meant to revive businesses. On the contrary, IBC has been a fraught process. Experts say IBC has neither been swift, as promised, nor the level of recoveries, projected at a very low 20% levels, were encouraging.

21 May 2021

Supreme Court permits banks to proceed against personal guarantors under IBC

Earlier the Central government has pushed a notification allowing banks to do so. The bench comprising of justices L Nageswara Rao and S Ravindra Bhat held the Centre’s notification. Petitioners had challenged the November 15, 2019 notification issued under the IBC.

13 May 2020

Jet Airways insolvency resolution professional seeks fresh EoI

This is the fourth time that EoI has been invited for Jet Airways, which was shuttered last year.

02 Aug 2019

Business failure must not be looked down upon: FM on VG Siddhartha's death

Siddhartha's body was found on the banks of the Netravathi river in Karnataka on Wednesday. In a letter purportedly written by him, Siddhartha alleged, among other reasons, harassment by the Income Tax department as the cause for taking his own life.

15 May 2019

IBC process helps recover Rs 70K cr bad loans in FY19: Report

According to its president Gurpreet Chatwal, the recovery rate for the 94 cases resolved through IBC by FY2018-19 is 43 per cent, compared with 26.5 per cent through earlier resolution mechanisms.

27 Dec 2018

Non-adherence to timelines under IBC a major concern, says govt official

The code, which became fully operational in December 2016, provides for a market-determined and time-bound insolvency resolution process.

27 Nov 2018

IFCI gets Rs 492 cr for Binani Cement resolution under IBC

On November 14, Aditya Birla Group firm UltraTech Cement won bid to acquire debt-ridden Binani Cement.

23 May 2018

Cabinet clears amendments to bankruptcy code

A 14-member Insolvency Law Committee had made suggestions to the Ministry of Corporate Affairs, including addressing woes of home buyers and making recoveries easier for lenders.

Arvind Subramanian

22 Mar 2018

To avoid future frauds, need to rethink PSB's ownership: Arvind Subramanian

He said that we need to have radical agenda for reform of the banking sector if we want these things not happen in future.

Economic Survey

29 Jan 2018

IBC mechanism used actively to resolve bad loan problem: Economic Survey

Insolvency and Bankruptcy Code has provided a resolution framework that will help corporates clean up their balance sheets and reduce debts.

Bankruptcy and Insolvency Code

02 Jan 2018

Parliament passes amendments to insolvency bill to bar defaulters from bidding process

The bill seeks to replace an ordinance which was promulgated in November to prevent unscrupulous persons from misusing or vitiating the provisions of the Insolvency and Bankruptcy Code (IBC).

Capital Markets

19 Aug 2017

Bankruptcy code can help deepen bond markets: Sebi chairman

Capital markets regulator Sebi chairman Ajay Tyagi on Saturday expressed hope that the Insolvency and Bankruptcy Code (IBC) will help boost investor confidence and encourage fund inflows into the corporate bonds market, especially in low-rated instruments.

26 Jun 2017

Banks may have to take 60% haircut on 12 largest NPAs: Crisil

The strong steps taken by Reserve Bank to resolve NPAs are likely to raise provisioning by a whopping 25 per cent this year as lenders will take up to 60 percent hair cut while resolving these accounts.

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