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Insolvency and Bankruptcy Code (IBC) News
Insolvency and Bankruptcy Code (IBC)
Banks recover Rs 40,400 cr from defaulters: RBI report
Sun, Dec 30, 2018
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.
In any system of this size, there may be a few black sheep: Rajnish Kumar, chairman, SBI
Mon, Sep 17, 2018
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.
Insolvency and Bankruptcy Code bogged down by low bids, delayed resolutions, says SBI chief Rajnish Kumar
Mon, Sep 17, 2018
“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”.
National Company Law Tribunal orders liquidation of Lanco Infratech
Tue, Aug 28, 2018
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).
Patanjali moves NCLT against Ruchi Soya lenders approving Adani Wilmar bid
Sat, Aug 25, 2018
Adani Wilmar and Patanjali group have been engaged in a long-drawn battle to take over Ruchi Soya.
StatAttack! How IBC has improved position of banks
Mon, Aug 13, 2018
Insolvency and bankruptcy code (IBC) has put the debt recovery process on fast track and improved the position of banks, according to Ficci survey of bankers
How homebuyers can protect their financial interest under Insolvency and Bankruptcy Code
Mon, Jun 18, 2018
Scores of homebuyers, particularly in NCR, have some relief as now they will be treated as financial creditors. Homebuyers are recognised as financial creditors under the insolvency law, with the government promulgating an ordinance.
Hope floats: Jaypee Infratech Wishtown homebuyers set to hit court again
Fri, May 25, 2018
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).
Don't look for ready-made solutions: IBBI chief to insolvency professionals
Sat, Feb 10, 2018
His remarks come against the backdrop of concerns about the conduct and independence of insolvency professionals in certain instances
Develop a US-style online platform to sell bad loans: Acharya
Sun, Jan 21, 2018
The RBI deputy governor has opined that such an online trading platform can help create a thriving market for selling bad loans
Time for consolidation of reforms initiated in 42 months: Niti
Sun, Nov 26, 2017
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.
50% provisions for IBC accounts "very reasonable": RBI's Acharya
Fri, Jun 30, 2017
Viral Acharya 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.
India jumps one place on Ease of Doing Business Index; Sitharaman disappointed
Wed, Oct 26, 2016
World Bank's Ease of Doing Business Index put India at 130th rank this year, up one place from last year. Naturally, the government is not happy.
Jaitley directs senior officials for faster implementation of Bankruptcy Code
Tue, Aug 23, 2016
Jaitley here on Tuesday held a meeting of senior officers of the ministry to review the implementation of IBC 2016.