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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 Insolvency and Bankruptcy Code (IBC), introduced by the PM Modi-led government, is a landmark reform that introduced a legal unified framework for resolving issues of financially-stressed companies, said Finance Minister Nirmala Sitharaman.

Insolvency and Bankruptcy Code helped banks to recover from NPA: Nirmala Sitharaman

Lenders on Wednesday discussed a proposal for 90 days of extension to close the resolution process of debt-ridden Reliance Capital Ltd (RCL) promoted by the Anil Ambani Group, sources said.

Lenders mull 90-day extension to close Reliance Capital resolution process

Honouring the honest MSME owners!

MSMEs alert! Insolvency law amendments - Efficient alternative resolution framework

The Insolvency and Bankruptcy Code (IBC) has not only strengthened the banking system by helping them resolve outstanding debt piled over years but has also come as a big booster of confidence of national and foreign investors in the Indian economy.

Insolvency and Bankruptcy Code: 'IBC raised confidence of all investors in Indian economy'

During the year, recovery through Lok Adalats and DRTs declined alongside the number of cases referred, partly indicative of the growing clout of the IBC mechanism for resolution of stressed assets, the monetary authority noted.

Banks recover Rs 40,400 cr from defaulters: RBI report

Rajnish Kumar, chairman, State Bank of India (SBI), expects some more amendments to come into the law so that the debate around existing promoters being kept out of the bidding process is settled. As he completes the first year in the corner office, he is hopeful that the problem of non-performing assets (NPAs) is being tackled in a systematic manner and the bank is ready for growth and profitability.

In any system of this size, there may be a few black sheep: Rajnish Kumar, chairman, SBI  

“Whenever the bidders are trying to suppress the price of the asset, bankers will prefer to take the company to liquidation rather than sell it off at a huge discount to the new promoters. In quite a few cases, this has happened,” Kumar said while emphasising that the “payment discipline is sacrosanct”.

Insolvency and Bankruptcy Code bogged down by low bids, delayed resolutions, says SBI chief Rajnish Kumar

The Reserve Bank had last June directed IDBI Bank, lead lender of Lanco Infratech, to initiate insolvency proceedings for the company under the Insolvency and Bankruptcy Code (IBC).

National Company Law Tribunal orders liquidation of Lanco Infratech

Adani Wilmar and Patanjali group have been engaged in a long-drawn battle to take over Ruchi Soya.

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StatAttack! How IBC has improved position of banks

Scores of homebuyers, particularly in NCR, have some relief as now they will be treated as financial creditors.&nbsp;Homebuyers are recognised as financial creditors under the insolvency law, with the government promulgating an ordinance.

How homebuyers can protect their financial interest under Insolvency and Bankruptcy Code

Hopeful of getting a fair treatment after reclassification as financial creditors, the homebuyers of Jaypee Infratech are planning to approach the court to rerun the ongoing resolution process under the amended Insolvency and Bankruptcy Code (IBC).

&nbsp;

Hope floats: Jaypee Infratech Wishtown homebuyers set to hit court again

His remarks come against the backdrop of concerns about the conduct and independence of insolvency professionals in certain instances

Don't look for ready-made solutions: IBBI chief to insolvency professionals

The RBI deputy governor has opined that such an online trading platform can help create a thriving market for selling bad loans

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The new initiatives in the next 18 months, Kumar said, should focus on health and education sectors as these two are going to be critical for human resource development.

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Viral Acharya&nbsp;incharge of monetary policy making said till now, the banks have neglected the crucial aspect of provisions against the expected losses which have resulted in lack of success in earlier resolution attempts.

50% provisions for IBC accounts "very reasonable": RBI's Acharya

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Jaitley here on Tuesday held a meeting of senior officers of the ministry to review the implementation of IBC 2016.&nbsp;

Jaitley directs senior officials for faster implementation of Bankruptcy Code

insolvency-and-bankruptcy-code-ibc

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 Insolvency and Bankruptcy Code (IBC), introduced by the PM Modi-led government, is a landmark reform that introduced a legal unified framework for resolving issues of financially-stressed companies, said Finance Minister Nirmala Sitharaman.

Lenders on Wednesday discussed a proposal for 90 days of extension to close the resolution process of debt-ridden Reliance Capital Ltd (RCL) promoted by the Anil Ambani Group, sources said.

The Insolvency and Bankruptcy Code (IBC) has not only strengthened the banking system by helping them resolve outstanding debt piled over years but has also come as a big booster of confidence of national and foreign investors in the Indian economy.

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Insolvency And Bankruptcy Code (IBC)

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

Insolvency and Bankruptcy Code helped banks to recover from NPA: Nirmala Sitharaman

Lenders mull 90-day extension to close Reliance Capital resolution process

MSMEs alert! Insolvency law amendments - Efficient alternative resolution framework

Insolvency and Bankruptcy Code: 'IBC raised confidence of all investors in Indian economy'

Banks recover Rs 40,400 cr from defaulters: RBI report

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Good news for homebuyers ! 17,000 Navi Mumbai CIDCO homes now cheaper by 10%

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