Sun, Dec 18, 2022
The senior government official told PTI that consultations are going on with various stakeholders, including bankers and lawyers, and the changes are expected to be finalised in the coming weeks.
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Mon, Sep 19, 2022
Insolvency and Bankruptcy Code: In a move that will provide better market-linked solutions for stressed companies, watchdog IBBI has amended its regulations to allow sale of one or more assets of an entity undergoing insolvency resolution process, besides other changes.
Fri, Aug 26, 2022
The last date of submission of expression of interest is August 31, 2022 while the due diligence is to be completed by September 7, said the lender.
Wed, Jul 05, 2017
According to the norms, once the case is with the NCLT, the lenders or the banks need to set up a committee of creditors that will come up with a plan on how the asset will be tackled.
Mon, Jun 26, 2017
RBI said, "The Internal Advisory Committee (IAC) recommended for IBC reference all accounts with fund and non-fund based outstanding amount greater than Rs 5000 crore, with 60% or more classified as non-performing by banks as of March 31, 2016. The IAC noted that under the recommended criterion, 12 accounts totaling about 25% of the current gross NPAs of the banking system would qualify for immediate reference under IBC."
Tue, Jun 20, 2017
Lanco Infratech becomes the first company to be pushed towards insolvency for its bad loans.
Mon, Jun 19, 2017
RBI had asked bankers to bring the identified 12 defaulters before NCLT by the end of this month.
Fri, May 26, 2017
Non-performing assets (NPAs) of public sector banks (PSBs) have gone past the Rs 6 lakh crore mark, the bulk of which are in sectors such as power, steel, road infrastructure and textiles.
Sun, May 14, 2017
According to a top official from IBBI, the government's Insolvency and Bankruptcy Code is likely to be operational in next three months.
Sun, Apr 23, 2017
The proposal is to fast-track the insolvency resolution process for three classes of entities -- start-ups, small companies and companies or Limited Liability Partnerships (LLPs).
Fri, Feb 03, 2017
For fiscal year 2015-16, the public sector banks had gross advances of Rs 51,04,915 crore, of which Rs 5,02,068 crore (9.83%) was categorised as gross non-performing assets (GNPA), cited Minister of State for Finance Santosh Gangwar in his written reply to Lok Sabha.
Thu, May 05, 2016
Officials and experts say the passing of the legislation before May 31 can help India improve its rankings in the World Bank
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