The Committee of Creditors (CoC) of a non-performing asset (NPA or bad loan) account must provide all relevant information and share its vision for the company under resolution with the
Category: IBC-SEBI
***IBBI: Special court summons Liberty House chief, 3 others in IBBI case–Economic Times–
A special court has summoned Liberty House chief Sanjeev Gupta and three other senior executives to face a criminal charge pressed against them by the
***Operational creditors benefit equally from IBC: IBBI – The Economic Times
The Insolvency and bankruptcy Board of India (IBBI) Saturday said both operational and financial creditors have benefitted alike from resolutions under the IBC. IBBI chairman M S Sahoo
***Haircuts for operational creditors are at par with financial creditors: Icra – The Economic Times
Operational creditors account for nearly half of the bankruptcy cases admitted at the NCLTs and the haircuts in resolutions taken by them are at par with the same
As NPA resolution crawls, banks stare at spike in credit cost – The Economic Times
With slower pace of resolution of bad loans, banks are staring at a spike in their credit cost, which is set to rise in the range of
Another shot for MSMEs to reclaim bankrupt companies – The Economic Times–
Promoters of micro medium and small enterprises (MSME) going through insolvency proceedings can take another shot at running their companies, based on a Supreme Court
***Need ED’s satisfaction over dues payments made by Sterling promoters: NCLAT – The Economic Times
The NCLT had also raised questions over the manner in which lenders of Sterling Biotech had agreed to settle their claims with the absconding promoters.
***Amtek: Supreme Court to hear IBBI plea for criminal proceedings against UK’s Liberty House – The Financial Express
However, senior counsel Mukul Rohtagi and counsel Mahesh Agarwal opposed the IBBI’s request to initiate criminal proceedings against the firm. The Supreme Court on Monday
***Sterling Biotech promoters to pay Rs 3,100 crore to lenders – The Financial Express
It had the backing of 90.32% voting share of the CoC though. The fugitive promoters of Sterling Biotech will pay back the entire Rs 3,100
***Relief for McLeod Russel: NCLT modifies status quo order on company’s assets – The Financial Express
The status quo will remain on selling of tea gardens. Providing some relief to debt-laden McLeod Russel, the Kolkata Bench of the National Company Law
***Somany PF challenges at NCLAT sales of IL&FS Wind Energy assets at Orix Corporation – The Financial Express
According to IL&FS, provident and pension funds have an exposure of Rs 9,134 crore to its papers Somany Provident Fund Institution on Monday challenged the
***Recent CoC decisions raise hopes for the return of errant promoters | Business Standard News
The commercial decision of banks and lenders, which are collectively termed committee of creditors (CoC) under the Insolvency and Bankruptcy Code (IBC), has always been a bone
From default to land acquisition, a weekly selection of key court orders | Business Standard Column
Special laws override Arbitration Act The Supreme Court has ruled that in the case of National Highways Authority of India (NHAI), the central government has the exclusive
***Amendments to the IBC: Correcting judicial errors | Business Standard Column
Often, courts step in to lend direction when new statues lack clarity or are inconsistently interpreted. In other cases, the legislature steps in to remedy
***Passing the scrutiny of courts toughest test for proposed amendments to IBC | Business Standard Column
The preamble of the Insolvency and Bankruptcy Code (IBC) describes the basic functions as: “…to consolidate and amend the laws relating to reorganisation and insolvency resolution of
***Amrapali-like fraud won’t recur: Government – Times of India
Assuring that large-scale financial fraud, such as cheating of homebuyers in the Amrapali case, will not happen in the real estate sector in future, the Centre told the Supreme Court on Thursday that a
Thomas Cook collapse: Bailout fails, tourists stranded – The Hindu BusinessLine
British government said it would work to return all those booked to come back to the UK over the next two weeks free of cost
***Personal insolvency regulation in phases, indemnity to successful bidder under IBC: Sitharaman – Times of India
Extending indemnity to successful bidders of loan defaulting companies, finance minister Nirmala Sitharaman on Monday said the government will not launch any criminal proceedings against those who buy
***Financial services providers likely to be brought under insolvency code ambit – NEWS – The Hindu BusinessLine
MCA in talks with the Reserve Bank to devise separate framework to bring NBFCs under the insolvency process The Centre is exploring the possibility of
***Adani Ports now on course to buy Dighi Port – The Hindu BusinessLine
Lenders’ panel clears APSEZ bid In a U-turn, the Committee of Creditors (CoC) led by Bank of India has backed the resolution plan placed by
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