IBC mandates that an insolvent asset must be resolved in 270 days. Next month, it would be 3 years since Parliament enacted the bankruptcy law. There
Category: IBC
ITC moves NCLT seeking to cancel Leela sale; hearing on June 18 – The Economic Times
In another development, Leelaventure in a BSE filing Wednesday said markets regulator Sebi has asked it to hold the sale of its four hotels and
Ericsson moves Supreme Court against returning Rs 580 crore to Anil Ambani’s RCom – The Financial Express
Swedish telecom network company Ericsson has moved the Supreme Court against potentially having to return Rs 580 crore to Reliance Communications according to an NCLAT
Don’t dilute IBC | Business Standard Editorials
The Insolvency and Bankruptcy Code (IBC) has been one of the major reforms of the past five years. It promised to effectively solve what former
Banks must disclose exposure to IL&FS: RBI – The Hindu BusinessLine
The Reserve Bank of India has asked banks to declare details of their exposure and provisions related to troubled Infrastructure Leasing and Financial Services as
RBI: RBI may offer more time for bank-led resolution of NPAs – The Economic Times
The central bank is expected to retain the main contours of its February 12, 2018, circular. The RBI is likely to adopt a more accommodative approach towards
Essar Steel CoC cannot discriminate between operational creditors, observes NCLAT – The Economic Times
The National Company Law Appellate Tribunal (NCLAT) on Tuesday observed that the Committee of Creditors of Essar SteelNSE 0.00 % cannot discriminate between operational creditors of the
No input tax credit if GST returns not filed, says Telangana HC – The Economic Times
The Telangana High Court has ruled that no input tax credit (ITC) is available unless GST returns are filed and a taxpayer is liable to pay penalty
IBBI, not NCLT, is the competent body to act against resolution professionals: NCLAT – The Economic Times
The Insolvency and Bankruptcy Board of India (IBBI) will be the competent authority and not the National Company Law Tribunal (NCLT) to act against any
Jaypee Infratech homebuyers offered Rs 97 crore compensation – The Financial Express
After his meeting with Jaypee Infratech (JIL) homebuyers last week, Manoj Gaur, JIL’s erstwhile promoter, has sweetened his February 2019 resolution plan for the debt-laden
ITC moves NCLT against Hotel Leelaventure, alleges oppression of minority shareholders – The Financial Express
In April, the NCLT granted the parties time till May 28 to arrive at a settlement. ITC has moved the National Company Law Tribunal (NCLT)
ITC moves NCLT against Hotel Leelaventure, alleges oppression of minority shareholders – The Financial Express
In April, the NCLT granted the parties time till May 28 to arrive at a settlement. ITC has moved the National Company Law Tribunal (NCLT)
Bhushan Power resolution: NCLT reserves order on JSW Steel plan – The Financial Express
BPSL was admitted by the New Delhi bench of the NCLT on July 26, 2017, for the initiation of the corporate insolvency resolution process (CIRP),
30-day grace period will hurt repayment discipline – The Financial Express
The current guidelines require banks to recognise stress immediately and act quickly. Given how more than half the companies that have been processed under the
Letter to BS: Mediation may help iron out glitches in insolvency process | Business Standard Letters
This refers to the “Amendments in IBC to provide for mediation” (April 22). The government’s move to amend the Insolvency and Bankruptcy Code (IBC) by making provisions
A rise in demand for insolvency courses – The Hindu BusinessLine
The rise in instances of companies undergoing restructuring and resolution under the Insolvency and Bankruptcy Code seems to be driving the demand for insolvency professionals
Banks approve Rs 2,400-crore resolution plan for steel assets of Uttam Galva – The Economic Times
Lenders to the distressed steel assets of Uttam Value Steels and Uttam GalvaNSE -0.98 % Metallics on Sunday approved a Rs 2,400-crore resolution package in a staggered
For now, Jaypee lenders unlikely to entertain possible Adani bid – The Economic Times
Lenders of debt-ridden Jaypee InfratechNSE 4.35 % are unlikely to seek any fresh offers, including from Adani Group, till current round of bidding process is complete under the
IBC implementation to get more seamless in one year: IBBI chairman – The Financial Express
Sahoo said some of the changes in the code can be expected by April next year. Implementation of the Insolvency and Bankruptcy Code (IBC) is
Irregularities of more than Rs 1 lakh cr found in cos under Insolvency and Bankruptcy Code – The Economic Times
Forensic audit of over 200 companies facing corporate insolvency resolution action under the Insolvency and Bankruptcy Code (IBC) has revealed irregularities of more than Rs 1 lakh crore,
