Tag: IBC

RERA better suits homebuyers than IBC to solve issues

The Insolvency and Bankruptcy Code (IBC) was enacted to ensure a cultural transformation in the insolvency and bankruptcy landscape. It established a new architecture for...

IBBI proposes code of conduct for committee of creditors; seeks public comments

Seeking to bring in more transparency, the Insolvency and Bankruptcy Board of India (IBBI) on Friday proposed a code of conduct for the committee of...

View: India is no country for dying companies

A telecom carrier and a retailer are showing a mirror to India’s tryst with assisted corporate demise and rebirth. The image staring back is one...

bad loans: Govt considers operational changes in IBC following expert panel recommendations

India is considering several operational changes in the Insolvency and Bankruptcy Code (IBC), harnessing digital technology to help remove seemingly insurmountable obstacles of distance or...

NCLT dismisses insolvency resolution withdrawal application of Rolta India promoters

The dedicated bankruptcy court dismissed the plea for the withdrawal of the Corporate Insolvency Resolution Process (CIRP) against the IT firm Rolta India on Tuesday,...

Insolvency process: Parliament panel suggests benchmark for ‘quantum of haircut’

A Parliamentary panel has suggested having a benchmark for the “quantum of haircut” in an insolvency process amid instances of financial creditors taking steep haircuts...

View: Real reforms are policy changes that make the economy run better with less political meddling

Every nation has its holy days. Ours are Independence Day, when Jawaharlal Nehru raised the tricolour on Red Fort, and Republic Day, when the British...

Insolvency law’s aim is business rejig, not recovery: M S Sahoo, chairman, IBBI

(This story originally appeared in on Jul 05, 2021) Amid concerns over poor realisation from insolvency resolution, M S Sahoo, chairman of Insolvency & Bankruptcy...

Appellate Tribunal stays Mumbai NCLT order to consider Kapil Wadhawan’s DHFL settlement offer

The National Company Law Appellate Tribunal (NCLAT) on Tuesday stayed the Mumbai NCLT’s order which directed the administrator of Dewan Housing Finance to consider a...

Jaypee Infra creditors reject NBCC’s bid as non-compliant with IBC

Insolvency bound realty developer ’s Committee of Creditors (CoC) has termed state-run ’s bid for the company non-compliant with the code, as interpreted by the...

Suraksha ARC seeks “fair & unbiased” process in Jaypee Infra insolvency

Suraksha Asset Reconstruction Company, one of the two bidders for Jaypee Infratech under the insolvency procedure, has called upon the troubled real estate developer’s creditors...

NCLT initiates insolvency proceedings against Ahluwalia Contracts

The National Company Law Tribunal (NCLT) has initiated insolvency proceedings against construction firm for defaulting on payments to an operational creditor. The New Delhi-based NCLT...

bad loans: RBI may set up task force soon: Rules for ARCs likely to be reviewed

In a move to activate the struggling market for bad loans, the rules for asset reconstruction companies (ARCs), which buy sticky assets from banks, may...

Insolvency and Bankruptcy Code: Insolvency and Bankruptcy Code resolution timeline averages 440 days

MUMBAI: With the insolvency law entering the fifth year, a leading resolution agency has emphasised the need for focusing on efficiency to ensure time-bound resolution...

NCLT terms realty developer’s advance to landlord operational debt under IBC

MUMBAI: In a precedent-setting verdict, the National Company Law Tribunal has held that a real estate company’s advance to the owner of property for the...

MCA proposes prepack insolvency process to address Covid-related stress

The ministry of corporate affairs (MCA) has proposed a pre-packaged insolvency process under the Insolvency and Bankruptcy Code (IBC) to resolve the unaddressed Covid-related stress...

BSES Yamuna Power Ltd: BSES Rajdhani, BSES Yamuna asked to clear Rs 1,864 crore dues

New Delhi: Two power distribution companies of the Delhi government and Reliance Infrastructure Ltd have been asked to pay Rs 1,864 crore of overdue electricity...

Insolvency and bankruptcy code (IBC) suspension extended till March 31

Suspension of the insolvency and bankruptcy code (IBC) is being extended till March 31, 2021, finance minister Nirmala Sitharaman said at the Bangalore Chamber of...

View: An urgent need for a cross-border insolvency framework

Covid-19 may create stress on External Commercial Borrowings (ECB) and guarantees issued for overseas borrowings of Indian corporates. The consequences will not only be bitter...

Any creditor of firm in liquidation can seek transfer of winding up plea from HC to NCLT: SC

The Supreme Court on Thursday held that “any creditor of a company in liquidation” can become a party to the winding up petition against the...

Lenders of DHFL ask bidders to further sweeten offers by four suitors

New Delhi: Not satisfied with the bids received, lenders of Dewan Housing Finance (DHFL) have asked the four suitors, including Adani Group and Piramal Enterprises,...

Lenders to debt-ridden DHFL to meet on Monday to take call on bids

The committee of creditors (CoC) of debt-ridden DHFL is scheduled to meet on Monday to take a call on four bids, including from Adani Group...

Videocon Insolvency: Dhoot family offers to pay Rs 30,000 crore to settle outstanding debt

NEW DELHI: The Dhoot family has offered to pay Rs 30,000 crore to lenders to settle their outstanding loans and pull out 13 Videocon group...

Adani Group, Piramal among 4 bidders for DHFL, lenders stare at over Rs 60,000 crore write-off

New Delhi: Adani Group and Piramal Enterprises are among the four entities that have placed bids for DHFL, the first financial services player undergoing insolvency...

Applicants who get a successful resolution plan cannot withdraw their offer, says NCLAT

NEW DELHI: The NCLAT has said once a resolution plan for a debt-ridden company is approved by the lenders, then the successful bidder cannot be...