Currently, there are about 800 corporates undergoing CIRP and about 100 cases have been closed on appeal or review as they should not have been
Category: IBC-SEBI
‘To a person running scared, every shadow will be a demon’ | Deccan Herald
To a person running scared, every shadow will be a demon’ Speaking to DH’s Annapurna Singh, former finance minister P Chidambaram says there is no connection between
IBC proceedings: Why homebuyers are in a bind over voting rights | Business Standard Column
The regulations require a creditor to submit a claim with proof before the last date mentioned in the public announcement Why is there confusion over
How to prevent IBC from becoming a victim of its own success – The Economic Times–R
The Insolvency and Bankruptcy Code has ushered in an era of swift resolutions and fair decisions with failing companies. On a recent Wednesday morning, the
To boost ease of doing biz, govt mulls ordinance to settle disputes faster | Business Standard News
Seeking to improve India’s ranking on ease of doing business index, the government is mulling an ordinance which provides for time-bound settlement of commercial disputes and make arbitrators accountable, a senior
Banks led by SBI had asked ArcelorMittal to clear dues of two firms: NuMetal to SC – The Economic Times
Russia’s VTB Bank-promoted firm NuMetal, which was asked to establish its “subterfuge” charge against rival bidder ArcelorMittal, Wednesday told the Supreme Court that contrary to claims, a
The Committee of Creditors ‘dharma’ should be maximisation with fairness – The Financial Express-R
Failure by a firm to service debt, which is otherwise known as insolvency, is an outcome of the market. The Insolvency and Bankruptcy Code, 2016,
Insolvency–: Pay PF dues before repaying creditors, NCLT tells liquidator of Precision Fasteners – The Economic Times
In a significant order for employees of bankrupt companies, the National Company Law Tribunal has ordered the resolution professional handling liquidation of Mumbai-based Precision Fasteners to pay
Supreme Court stays insolvency proceedings against Mack Soft – The Financial Express
Supreme Court stays insolvency proceedings against Mack Soft The Supreme Court has stayed the insolvency proceedings against Mack Soft Tech by its holding company Quinn
Big haircut for lenders as NCLT okays resolution plan for Orchid Pharma | Business Standard News
The Chennai bench of the National Company Law Tribunal (NCLT) has approved the resolution plan submitted by US-based investor Ingen Capital Group LLC for Chennai-based pharmaceutical manufacturer Orchid Pharma Ltd, following
Financial creditors not part of CoC don’t have voting rights: IBBI – The Hindu BusinessLine
The Insolvency and Bankruptcy Board of India (IBBI) has cleared the air on the crucial issue of whether a financial creditor who is not admitted
NCLAT wrongly allowed ArcelorMittal to pay dues after bidding for Essar Steel, NuMetal tells SC – The Financial Express
The Appeal is on limited grounds as the NCLAT has committed “a fundamental error” in interpreting the provisions of the Code and allowed time to
Corporation Bank in pact with NeSL – The Hindu BusinessLine
Corporation Bank has signed an information utility (IU) agreement with National e-Governance Services Ltd (NeSL), the first IU registered with the Insolvency and Bankruptcy Board
Insolvency Law–Apex court to settle law to minimise NCLT, NCLAT interference – The Financial Express
The court will resume hearing on September 25. The Supreme Court on Wednesday observed that it will settle the law so as to avoid any
IBC-Loan recast: Government seeks 80 more days for lenders – The Economic Times
Bankers fear that the resolution process will come to a halt for two months. The government has asked the Reserve Bank of India (RBI) to provide at
There’s overwhelming proof of IBC’s success, but Kapil Sibal sees cronyism in it – The Financial Express
IBC has resulted in defaulters, like the Ruias of Essar Steel, losing control of their companies, it is clearly anti-crony. Former telecom minister Kapil Sibal,
IBC–Liquidation of stressed firms: Creditors staring at 92% haircut – The Financial Express-R
The liquidation value of the 124 companies has been pegged at just Rs 4,817 crore, while the total admitted claims of creditors (both financial and
IBC process: Delays put role of adjudicating authorities in spotlight | Business Standard News
Last week, the Supreme Court observed that the role of adjudicating authorities came only after a resolution plan is finalised and said that they were
NPA–Banks’ credit costs to stay at 2-3% till FY20, says India Ratings | Business Standard News
Banks will continue to see their credit costs (amount set aside for bad loans) stay at 2-3 per cent in FY19 and FY20 because of ageing
Numetal joins war of letters, points fingers at Mittals – NEWS – The Hindu BusinessLine
The fight to take control of Essar Steel intensified on Monday with Numetal seeking to know from the the resolution professional (RP) overseeing the insolvency
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