Category: Legal

Promoters of steel companies undergoing resolution under the bankruptcy code were keen to bid for assets but will not be able to do so now

promoters of failed companies are as untrustworthy as those who bankrolled them. This is the message from the Ordinance that was moved on Thursday to

The insolvency Ordinance will not be an optimal solution if its implementation doesn’t recognise three crucial factors. First, all efforts must be made to allow

I have never been a fan of the new bankruptcy law, stylishly called the Insolvency and Bankruptcy Code (IBC). The reason is that it does

Amendments to the Insolvency and Bankruptcy Code (IBC) are likely to make lenders take large haircuts as suitors drive a hard bargain to buy cheaper

Debarring promoters from bidding for their own companies placed on the block in insolvency proceedings would dilute the competitive process, suppressing valuations, said lawyers and

Debt resolution for smaller companies may see higher challenges and number of companies going for liquidation may rise once the proposed changes to the Insolvency

Several companies whose assets are facing insolvency proceedings today said they were not wilful defaulters and would like to participate in the bidding process if

Investing in India’s bad debt, however, entails challenges. There are questions as to whether the companies can meet deadlines under the new bankruptcy code to

The President’s assent to the ordinance to amend the Insolvency and Bankruptcy Code (IBC) that will bar defaulters from bidding for the stressed assets on

It is welcome that the government has tightened the eligibility norms for bidding for companies being resolved under the Insolvency and Bankruptcy Code (IBC), to

Essar Steel Ltd has a loan default of Rs 37,284 crore. In August, the National Company Law Tribunal (NCLT) admitted insolvency proceedings against it. Two months

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

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

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

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

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,