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Insolvency and Bankruptcy Code (IBC)

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

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

Thu, May 30, 2024

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 mull 90-day extension to close Reliance Capital resolution process

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

Wed, Apr 06, 2022

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.

MSMEs alert! Insolvency law amendments - Efficient alternative resolution framework

MSMEs alert! Insolvency law amendments - Efficient alternative resolution framework

Thu, Apr 08, 2021

Honouring the honest MSME owners!

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

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

Sun, Oct 25, 2020

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.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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.

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