The average time taken for resolution of stressed assets under the insolvency law reached a three-year high in the June quarter, according to a report. The longest delay was 643 days for the Financial Creditors (FCs) in the first quarter of this fiscal, as per the report by India Ratings based on an analysis of … Read more
The Reserve Bank of India (RBI) believes that the Insolvency and Bankruptcy Code (IBC) is probably the best mechanism for creditors to recover their dues and said the right way to look at its effectiveness would be to compare the resolution value to the liquidation and not the total loans. RBI, in the latest report … 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
It has been thirty years since the big-picture reforms started in India with economic liberalisation in 1991. Over the past few years, the government has ushered a series of framework reforms including the Jandhan-Aadhaar-Mobile, Monetary Policy Framework, Insolvency and Bankruptcy Code, Good and Services Tax, Labour and Agriculture reforms. It would not be wrong to … Read more
New Delhi, The government on Tuesday said that financial creditors have realised Rs 2.45 lakh crore or 36 per cent of their total claims under the insolvency resolution process till the end of June. As many as 4,540 companies were admitted under the corporate insolvency resolution process as of June 30 this year. The 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
MUMBAI: With the insolvency law entering the fifth year, a leading resolution agency has emphasised the need for focusing on efficiency to ensure time-bound resolution as it averaged 440 days for resolving 277 cases approved by the NCLT as on September 2020. An Alvarez & Marsal India report on Thursday called upon all IBC stakeholders … Read more
MUMBAI: State Bank of India, representing creditors of Reliance Communications (RCom), has told the Supreme Court that spectrum is an “essential and integral” part of the telco’s assets and the insolvency process would fall apart if the right to use airwaves isn’t allowed to be transferred. Without any spectrum to use, the telco would cease … Read more