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IBBI chief Ravi Mital on Thursday said companies in India have not learnt how to use the insolvency law and pitched for efforts to ensure that more companies opt for the voluntary resolution process to increase productivity.

Companies can look at voluntary insolvency process to increase productivity, maximise value: IBBI chief

The regulator is also working on prepackaged insolvency for large corporate cases, which is only allowed in MSME cases as of now.

NCLT registers 43% jump in debt resolution cases: IBBI

Under the IBC, which provides for a market-linked and time-bound resolution process of stressed assets, creditors have witnessed recoveries of nearly Rs 3 lakh crore so far and the recovery amount stood at more than Rs 51,000 crore in 2022-23 financial year.

Resolutions under insolvency law likely to touch 300 this fiscal; efforts on to speed up process: Officials

Insolvency and bankruptcy board looks to crowd source ideas, seeks public comments on regulations

Insolvency and Bankruptcy Code: IBBI amends regulations to boost value of stressed companies

IBBI has notified amendments to voluntary liquidation process regulations wherein timelines, including for distribution of proceeds from realisation, have been reduced in order to ensure faster exit for firms.

IBBI reduces timelines for activities under voluntary liquidation process

The Insolvency and Bankruptcy Board of India (IBBI) has amended regulations pertaining to voluntary liquidation process as part of efforts to streamline the process

IBBI amends voluntary liquidation process regulations

Speaking at a webinar organised by MCC, whole time member of IBBI Navrang Saini said the IPs should be transparent and they should also ensure that the resolution plans are worked out in a time-bound manner

Valuation falls each day, insolvency professionals need to work within time frame: IBBI

The ‘Certificates of Merit’ are being emailed to these meritorious participants by 10th September, 2020.

Results out! National Online Quiz on Insolvency and Bankruptcy Code, 2016: Overwhelming response! Full details of winners

In a major development,&nbsp; the Insolvency and Bankruptcy Board of India (IBBI) has excluded the liquidation timeframe for bankrupt companies from the lockdown period.

Lockdown effect! Important update about liquidation processes under Insolvency and Bankruptcy Code

Amid rising number of stressed assets being referred for resolution under the Insolvency and Bankruptcy Code (IBC), IBBI chief M S Sahoo said the law also gives opportunities to rectify the mistakes during the insolvency process.

Dangerous to let viable cos close down: IBBI chief

IBBI issues draft rule on defaulter guaranteer to solve insolvency cases. Watch video to know more


IBBI issues draft rule on defaulter guaranteer to solve insolvency cases

"In Binani, the one which was approved was within the rules. The one which was rejected was because it was not balancing the interest of the stakeholders," IBBI chairman M S Sahoo told PTI when asked about resolutions of Essar Steel and Binani Cement.

Resolutions of both Binani and Essar were within rules: IBBI

From February next year, only entities registered as valuers with the IBBI can carry out valuation of assets under the insolvency law, according to a circular.

Only registered valuers can do valuation under IBC from Feb 2019

Bankruptcy Board notifies regulations for complaint redressal

RBI said, "The&nbsp;Internal Advisory Committee (IAC) recommended for IBC reference all accounts with fund and non-fund based outstanding amount greater than Rs&nbsp;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%&nbsp;of the current gross NPAs of the banking system would qualify for immediate reference under IBC."

These two companies stand to gain immensely if India goes ahead with steel sector bankruptcies

According to a top official from IBBI, the government's&nbsp;Insolvency and Bankruptcy Code is likely to be operational in next three months.

Insolvency And Bankruptcy Code: First information utility to be operational in 3 months

Govt appoints 4 nominees to Insolvency and Bankruptcy Board

ibbi

IBBI chief Ravi Mital on Thursday said companies in India have not learnt how to use the insolvency law and pitched for efforts to ensure that more companies opt for the voluntary resolution process to increase productivity.

The regulator is also working on prepackaged insolvency for large corporate cases, which is only allowed in MSME cases as of now.

Under the IBC, which provides for a market-linked and time-bound resolution process of stressed assets, creditors have witnessed recoveries of nearly Rs 3 lakh crore so far and the recovery amount stood at more than Rs 51,000 crore in 2022-23 financial year.

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Companies can look at voluntary insolvency process to increase productivity, maximise value: IBBI chief

NCLT registers 43% jump in debt resolution cases: IBBI

Resolutions under insolvency law likely to touch 300 this fiscal; efforts on to speed up process: Officials

Insolvency and bankruptcy board looks to crowd source ideas, seeks public comments on regulations

Insolvency and Bankruptcy Code: IBBI amends regulations to boost value of stressed companies

IBBI reduces timelines for activities under voluntary liquidation process

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Silver slides below Rs 2 lakh/kg mark after scaling all-time peak

Silver Price Today: After touching Rs 2 lakh, MCX silver slips Rs 8,000 on profit-booking; gold also trims gains

Worried about rising airfares? Govt may have good news for you — Know what Aviation Minister said

4th day of operational normalisation at IndiGo? Airline expects to complete 2,000+ flights today

5G reaches 99.9% of India’s districts; Centre details rollout progress in Parliament

What happens when families put phones away at dinner? Here’s what survey reveals