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Insolvency and Bankruptcy Code

Government to amend insolvency law to reduce time taken for resolution process

Government to amend insolvency law to reduce time taken for resolution process

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.

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

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

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.

PNB to sell NPA account Apollo Distilleries & Breweries

PNB to sell NPA account Apollo Distilleries & Breweries

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.

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Monnet Ispat lenders may take 64 pct haircut

Monnet Ispat lenders may take 64 pct haircut

Wed, Apr 11, 2018

All formalities relating to the resolution has to be completed by the deadline of April 13. According to a source in the know, the deal is likely to be around Rs 3,750 crore, of which close to Rs 2,750 crore could be in cash and remaining could be in equity.

Warning! Credit card companies can drag you to court for unpaid bills, loans as small as Rs 10,000

Warning! Credit card companies can drag you to court for unpaid bills, loans as small as Rs 10,000

Fri, Apr 06, 2018

The central government is considering bringing individuals as well as partnership firms under the Insolvency and Bankruptcy Code (IBC). So far, only corporate debtors can face the bankruptcy proceedings initiated by the banks. “We are recommending that it (amount in case of individual loans) should be made Rs 10,000,” said Ministry of Corporate Affairs (MCA) Secretary Injeti Srinivas.

Property market in India: Big problem for homebuyers; check out why they must worry

Property market in India: Big problem for homebuyers; check out why they must worry

Mon, Apr 02, 2018

The 14-member committee formed to review the IBC, in its report submitted to the government last week, has recommended the financial creditor (FC) tag for home buyers. According to the government sources, home buyers may be given a separate grade in waterfall mechanism under section 53 of the code. Waterfall mechanism refers to the order of priority in which the proceeds from the sale of liquidation assets are distributed

Insolvency law committe to finalise report this month for proposed amendments to Insolvency and Bankruptcy Code

Insolvency law committe to finalise report this month for proposed amendments to Insolvency and Bankruptcy Code

Thu, Mar 22, 2018

Insolvency Law: The basic structure of the IBC will not be disturbed and "targeted amendments" will be carried out. It would also address all "unintended consequences" with respect to implementation of this law, the official said. Without elaborating on the proposed changes, the official said there would be "something for home buyers also".

Indian infrastructure makes steady progress, creates investment climate

Indian infrastructure makes steady progress, creates investment climate

Thu, Mar 15, 2018

As we approach the end of quarter one of calendar year 2018, it is a good time to take stock of changes in Indian infrastructure this year. 2018 is a year that has started with the promise of significant asset price volatility globally.

Bad loan resolution: RBI does away with JLR, notifies revised framework under IBC

Bad loan resolution: RBI does away with JLR, notifies revised framework under IBC

Tue, Feb 13, 2018

The Reserve Bank of India today came out with a revised framework for expeditious resolution of bad loans, harmonising the existing guidelines with the norms specified in the Insolvency and Bankruptcy Code (IBC).

Turnaround saga of Bengal Chemicals and Pharmaceuticals, HSCL

Turnaround saga of Bengal Chemicals and Pharmaceuticals, HSCL

Mon, Dec 25, 2017

Bengal Chemicals made profits after 63 years in FY17, while NBCC expects minimum 12-15% topline growth in next 2-3 years for HSCL

Insolvency law panel seeks suggestions from stakeholders

Insolvency law panel seeks suggestions from stakeholders

Thu, Dec 14, 2017

A large number of cases have been filed under the Insolvency and Bankruptcy Code (IBC) which became operational in December 2016. The law provides for a market-determined and time-bound insolvency resolution process.

India growth to normalise in next four to six quarters, says Standard Chartered

India growth to normalise in next four to six quarters, says Standard Chartered

Thu, Dec 14, 2017

The report said that economic growth has bottomed out after slowing to a 13-quarter low of 5.7% in April-June 2017, but predicted growth recovering further to 7% over the next few quarters (6.3% in July-September 2017), supported by several factors.

Wilful defaulters in RBI's second list may face IBC proceedings

Wilful defaulters in RBI's second list may face IBC proceedings

Wed, Dec 13, 2017

Axis Bank, which was the first to come out and reveal its exposure in these defaulters, stated in Q2FY18 result that it has exposure on 12 of the identified defaulters.

BSE to file case against defaulting listed companies under IBC

BSE to file case against defaulting listed companies under IBC

Tue, Dec 12, 2017

The BSE is stated to have already filed proceedings against the seven defaulting companies before the NCLT on account of their failure to pay annual listing fees over a period of time.

Bankruptcy code can help deepen bond markets: Ajay Tyagi

Bankruptcy code can help deepen bond markets: Ajay Tyagi

Sat, Aug 19, 2017

The bankruptcy law was enacted to ensure time-bound settlement of insolvency and enable ease of doing business as the bad loans in the banking system has touched the roof.

NPA resolution not to liquidate cos, but to help save them: FM Jaitley

NPA resolution not to liquidate cos, but to help save them: FM Jaitley

Sat, Aug 19, 2017

Gross NPAs have crossed 9.6 per cent as of March 2017, while the stressed loans ratio is over 12 per cent.

NPA resolution to spur credit expansion, growth: Panagariya

NPA resolution to spur credit expansion, growth: Panagariya

Sun, Aug 13, 2017

Terming the non-performing assets (NPAs) or bad loans problem as a 'legacy issue', Arvind Panagariya said that even after three years of the NDA government taking charge, it has not gone away.

GST not an easy reform to implement, says FM Jaitley

GST not an easy reform to implement, says FM Jaitley

Mon, Jul 31, 2017

The finance minister Arun Jaitley said the pressure was on those who were blocking important legislations, disrupting parliament or when there was a time gap when the GST amendment was not allowed to be passed.

Now individuals can also seek NCLT help to recover dues

Now individuals can also seek NCLT help to recover dues

Mon, Jul 24, 2017

The Chennai bench of NCLT has admitted the application filed by the employees after the hotel failed to pay arrears of salary, gratuity and leave salary.

Vijaya Bank Q1 net jumps over 57% to Rs 255 crore

Vijaya Bank Q1 net jumps over 57% to Rs 255 crore

Sat, Jul 22, 2017

The public sector bank had registered a net profit of Rs 161.66 crore in the corresponding April-June quarter of 2016- 17 fiscal.

First test of India's new bankruptcy law offers cautionary tale

First test of India's new bankruptcy law offers cautionary tale

Tue, Jul 11, 2017

In January, Innoventive Industries, a speciality steelmaker based in western India, was forced into the bankruptcy court by its lenders, testing for the first time new insolvency rules that aim to resolve India`s $150 billion bad debt overhang.

NCLT priority for insolvency: RBI partially retracts statement

NCLT priority for insolvency: RBI partially retracts statement

Sun, Jul 09, 2017

RBI had said it has identified 12 accounts for insolvency proceedings with each of them having over Rs 5,000 crore of outstanding loans accounting for 25 per cent of total NPAs of banks.

Have zero tolerance on NPAs; fight cases: Finmin to banks

Have zero tolerance on NPAs; fight cases: Finmin to banks

Sat, Jul 08, 2017

The ministry has been asking banks to take tough action against such borrowers and be ready to fight court cases as well.

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