 "What is IBC")
IBC
What is IBC
Read More
Latest Updates on IBC
IBBI, IBA to launch centralised platform for asset liquidation auctions
Initially, the platform will be deployed in pilot mode, with a full rollout planned at a later date after incorporating improvements based on usage feedback
 "IBBI, IBA to launch centralised platform for asset liquidation auctions")
Bids for KSK Mahanadi Power skyrocket post Adani Group's Rs 12,500 cr offer
Six of the original ten bidders, including NTPC, have now submitted revised offers close to Adani's bid, demonstrating strong competition and driving up the asset's value
 "Bids for KSK Mahanadi Power skyrocket post Adani Group's Rs 12,500 cr offer")
There is a need for second-generation IBC reforms, says Amitabh Kant
India's G20 Sherpa called for opening doors to non-sovereign or private players to deploy technology for improved court management
 "There is a need for second-generation IBC reforms, says Amitabh Kant")
Strengthening IBC: Extend prepack to big companies, says industry
Both the finance minister and the economic survey have highlighted the success of IBC
 "Strengthening IBC: Extend prepack to big companies, says industry")
Can improve recovery rate under IBC to 40%: IBBI chairperson to RPs
In accounting terms, a going concern entity is expected to survive and thrive for at least the next 12 months, even if it is going through insolvency proceedings
 "Can improve recovery rate under IBC to 40%: IBBI chairperson to RPs")
At 269, NCLT approves record resolutions under IBC in FY24: IBBI data
However, it is still taking 679 days on average to conclude the resolution process, as against the standard timeline of 330 days
 "At 269, NCLT approves record resolutions under IBC in FY24: IBBI data")
NCLAT sets aside insolvency process against Dream 11 parent company
Section 10A deals with the suspension of initiation of insolvency process for any default arising on or after March 25, 2020, for a period of six months or extending to one year
Special Courts with sessions judges can try offences under IBC: SC
The High Court had observed that the objective of the legislature was not to burden a special court comprising a sessions judge with trials under the IBC
 "Special Courts with sessions judges can try offences under IBC: SC")
After making insolvency process creditor-driven, can IBC address the delays
Experts point out that though the IBBI data reflects a steady rise in the total number of insolvencies admitted, the year-on-year increase does not show a consistent trend
 "After making insolvency process creditor-driven, can IBC address the delays")
Reached settlement with Celestial Aviation, formalities remain: SpiceJet
SpiceJet informs NCLT of near resolution in dispute with aircraft lessor Celestial Aviation requested an adjournment to finalise the settlement process
 "Reached settlement with Celestial Aviation, formalities remain: SpiceJet")
A third of withdrawn insolvency processes fully settled, says IBBI
IBBI said that the credible threat of the code that a company may change hands has changed the behaviour of debtors
 "A third of withdrawn insolvency processes fully settled, says IBBI")
The post-May 2024 dilemma
Even if we have a majority government, economic performance will be sub-optimal without political consensus on reforms
 "The post-May 2024 dilemma")
Economic prospects
Interventions needed to support long-term growth
 "Economic prospects")
Battery maker IBC raises $35 mn to fund manufacturing expansion in India
Company says it is developing products are safe at high temperatures and have a longer life
 "Battery maker IBC raises $35 mn to fund manufacturing expansion in India")
IBC needs further changes for resolution of biz conglomerates: RBI Dy Guv
Swaminathan J, deputy governor, RBI said that very often business conglomerates have intricate corporate structure with inter-connected related-party relationships that add to the complexity
 "IBC needs further changes for resolution of biz conglomerates: RBI Dy Guv")
Resolve this: How India's insolvency process drags on, erodes asset value
Litigation tactics of corporate debtors and poor judicial infrastructure among reasons for delay
 "Resolve this: How India's insolvency process drags on, erodes asset value")
Best of BS Opinion: Power for all, Mutual funds' growing heft & more
Here is the best of Business Standard's opinion pieces for today
 "Best of BS Opinion: Power for all, Mutual funds' growing heft & more")
A performance appraisal of IBC
Despite potential biases introduced by the Dosa approach in analysing its efficacy, the law appears successful in delivering on its key parameters
Learnings from IBC suggest need for 'some course correction': RBI chief Das
The IBC, which came into force in 2016, is a key legislation aimed at resolving stressed in a time-bound and market-linked manner
 "Learnings from IBC suggest need for 'some course correction': RBI chief Das")
IBC yet to address resolution for insolvencies of group companies
Group insolvency remains an ill-defined area in the IBC. Here's why it needs a clear framework
 "IBC yet to address resolution for insolvencies of group companies")
