Amid instances of long delays in insolvency resolution process of various companies, IBBI chief Ravi Mital on Thursday said resolution requires innovation and “over regulation is not a solution”. Around 650 resolutions of debt-ridden corporates have happened since the implementation of the Insolvency and Bankruptcy Code (IBC) in late 2016. While acknowledging that the IBC … Read more
Insolvency cases amounting to nearly Rs 10.5 lakh crore , excluding liquidation and certain other matters, have been disposed of by the National Company Law Tribunal (NCLT). The amount was mentioned by tribunal’s President Chief Justice (Retd) Ramalingam Sudhakar while delivering the sixth annual day lecture of Insolvency and Bankruptcy Board of India (IBBI). Under … Read more
Multiple amendments and clarifications to the Insolvency and Bankruptcy Code by the Insolvency and Bankruptcy Board of India (IBBI) will help creditors fetch better value for distressed assets and lift sagging recovery rates, consultants and bankers said. In separate notifications over the weekend, IBBI allowed creditors to sell part assets in case they get more … Read more
The Insolvency and Bankruptcy Board of India (IBBI) is taking measures to address issues concerning insolvency resolution process, an official said on Friday. IBBI Executive Director Sandip Garg, who was speaking at a conference organised by industry body Assocham, said that the insolvency law has kept pace with the emerging market requirements and will remain … Read more
The Insolvency and Bankruptcy Board of India (IBBI) has notified several changes to the voluntary liquidation regulations, reducing the timeframe for a corporate to exit the business to just 90 days if no claims are received from any creditor. This shall aid in further enhancing the freedom of exit for investors as part of the … Read more
Seeking to bring in more transparency, the Insolvency and Bankruptcy Board of India (IBBI) on Friday proposed a code of conduct for the committee of creditors under the insolvency law. IBBI, a key institution in implementing the Insolvency and Bankruptcy Code (IBC), has also proposed further measures to strengthen the regulatory framework for liquidation process. … Read more
The Insolvency and Bankruptcy Board of India (IBBI) is tightening the process for resolution of defaulting companies to avoid charges of bias and prejudice after a few cases ended up in disputes. Indian Institute of Insolvency Professionals of ICAI (IIIPI) has submitted a report to IBBI, which is said to be in discussion with various … Read more
The Insolvency and Bankruptcy Board of India (IBBI) is tightening the process for resolution of defaulting companies to avoid charges of bias and prejudice after a few cases ended up in disputes. Indian Institute of Insolvency Professionals of ICAI (IIIPI) has submitted a report to IBBI, which is said to be in discussion with various … Read more
(This story originally appeared in on Jun 16, 2021) MUMBAI: In its order approving the resolution plan submitted by for the Videocon Group, the National Company Law Tribunal (NCLT) has raised doubts over maintenance of confidentiality during the process. NCLT has highlighted how Vedanta’s bid was close to the liquidation value, which is a secret. … Read more
The Insolvency and Bankruptcy Board of India (IBBI) is setting up two online platforms for selling distressed assets under Insolvency and Bankruptcy Code, opening up markets for soured debt involving resolution plans, interim finance and liquidation assets. The move will likely unlock big opportunities amid lockdown restrictions. This will likely make life easy for both … Read more