Wilful defaulters and entities whose accounts have been classified as NPAs will be barred from bidding for assets under the insolvency law, with the President
Category: IBC-SEBI
Full text: President Kovind gives assent to ordinance to amend IBC | Business Standard News–24.11.2017
The President of India has given his assent today to the Ordinance to amend the Insolvency and Bankruptcy Code, 2016 (the Code). The Ordinance aims
Jolt for errant promoters | Business Standard Editorials–24.11.2017
The presidential assent to the Ordinance effecting crucial changes to the Insolvency and Bankruptcy Code is a bold and clever step towards ensuring that the
Ordinance may lead to more litigation | Business Line–24.11.2017
The banking sector will be a major loser as the ordinance would reduce the number of bidders and minimise the scope for finding the right
‘IBC ordinance will affect pending suits’ – The Hindu–24.11.2017
The biggest concern regarding the amendments to the Insolvency and Bankruptcy Code (IBC) is that they will cause disruption in nearly all pending insolvency proceedings,
No more bidding from wilful defaulters for stressed assets as government moves to bring changes in Bankruptcy code – The Financial Express–23.11.2017
The Central Cabinet on Wednesday today approved an ordinance approving an amendment to the Insolvency and Bankruptcy Code to prevent wilful defaulters from bidding for stressed
Bankruptcy: Insolvency law: Government sets up 14-member panel to identify issues – The Economic Times–22.11.2017
More than 300 cases have been admitted for resolution by the National Company Law Tribunal (NCLT). With rising number of cases under the Insolvency and
FinMin asks banks to prevent defaulters from buying stressed assets–20.11.2017
To ensure success of bankruptcy process under the Insolvency and Bankruptcy Code (IBC), the finance ministry has asked banks to be vigilant to ensure that
NCLT insolvency process has a tax problem; why Centre must fix it at the earliest – The Financial Express–19.11.2017
Given the speed at which NPAs have accumulated to over Rs 8.5 lakh crore today, and how they have brought the banking system to a
Insolvency professionals: Delhi has highest number of insolvency professionals – The Economic Times–15.11.2017
There are a total of 1,107 registered insolvency professionals in India. MUMBAI: The National Company Law Tribunal’s Mumbai Chapter may be dealing with the highest
Insolvency and Bankruptcy Code: Keeping promoters at arm’s length | Business Standard News–13.11.2017
Interestingly, India is among the few countries with rules to keep promoters and the board of directors away from a company during the insolvency resolution
Insolvency: More tinkering to plug loopholes | Business Standard Column–13.11.2017
On November 7, the Insolvency and Bankruptcy Board of India (IBBI) came out with a notification that is a classic example of motherhood statements from
Keep promoter off liquidated assets, otherwise, bankruptcy politics will turn toxic–10.11.2017
The government’s new and improved rules for insolvency resolution are not good enough and will pave the way for huge political embarrassment for the government.
‘Dubious’ promoters should not get refuge under IBC: Sajjan Jindal – The Economic Times–09.11.2017
JSW Steel is one of the firms keen to buy stressed assets referred to National Company Law Tribunal. Indian companies and promoters battling to take
Post re-cap, banks may take sharp haircuts to end steel sector exposure | Business Line–08.11.2017
The ₹2.11-trillion ($32 billion) recapitalisation support to be provided by the government to State-run banks may prompt them to take bigger haircuts on their exposure
Insolvency code: Due diligence framework tightened for resolution applicants | Business Line–08.11.2017
The Insolvency and Bankruptcy Board of India (IBBI) — the insolvency regulator — has tightened the due diligence framework on resolution applicants, including promoters. Corporate
A fair chance | Business Standard Editorials–07.11.2017
As the Indian financial sector faces a serious problem with bad debt, a ray of hope on the horizon is the modern insolvency process. The
Bankruptcy: Likely bids by failed promoters to wrest control of troubled companies worry banks – The Economic Times–06.11.2017
Come December, banks will have to grapple with the ethical and financial dilemma of dealing with failed promoters who try to claw back control in
Can a bank allow a company under insolvency to withdraw cash? – The Economic Times–06.11.2017
Can a bank allow a company, which is facing corporate insolvency resolution proceedings under Insolvency and Bankruptcy Code and has non-performing assets (NPAs) attached to
Defaulting promoters can submit bids for their companies? SBI chief Rajnish Kumar said this interesting thing – The Financial Express–06.11.2017
Defaulting promoters submitting bids for their companies under the insolvency resolution process are “within their rights” to do so, State Bank of India (SBI) chairman
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