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,
Category: IBC-SEBI
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
Banks to go ahead with power units’ resolution plans – The Economic Times
After initial apprehensions, law firms have finally interpreted the brief judgement as favourable to the resolution proceedings and interpreted status quo only on insolvency proceedings
IBC –K. Kishan Vs. M/s. Vijay Nirman Company Pvt. Ltd. | Latest Supreme Court Judgments | Law Library | AdvocateKhoj
K. Kishan Vs. M/s. Vijay Nirman Company Pvt. Ltd. [Civil Appeal No. 21824 of 2017] [Civil Appeal No. 21825 of 2017] R.F. Nariman, J. 1.
From insurer’s liability to arbitration appeal, here are key court orders | Business Standard Column
Curbs on invoking IBC in arbitration appeal The Insolvency and Bankruptcy Code cannot be invoked when an arbitration award has been passed against an operational debtor and
RBI circular deserved to be stayed: Advocate Abhishek Singhvi – The Economic Times
Advocate Abhishek Singhvi said the controversial circular of the Reserve Bank on stressed assets deserved to be stayed because it was a blanket approach without regard to individual facts
Some power firms taken to NCLT just before SC order – The Economic Times
Lenders dragged a bunch of power companies to the National Company Law Tribunal (NCLT), signalling their intention to seek an early resolution to the issue of bad loans, just
RBI opts out of panel on stressed power assets – The Economic Times
The Reserve Bank of India has refused to be part of the cabinet secretary-led panel set up by the PMO in July to resolve issues of the
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