Page 10 - Latest Updates on IBC
Banks' NPAs stable in June qtr, look manageable; IBC needs improvement: Das
Reserve Bank Governor Shaktikanta Das on Thursday said the stressed assets situation "looks manageable" as the stock of gross NPAs remained stable even after the second wave of pandemic
 "Banks' NPAs stable in June qtr, look manageable; IBC needs improvement: Das")
Cracking the whip: Panel puts resolution professionals under the scanner
Govt feels enough checks and balances in place; experts say there's need for audit and regulator
 "Cracking the whip: Panel puts resolution professionals under the scanner")
3/4th of liquidated companies were in BIFR or defunct: IBBI data
Of the 396 corporate debtors rescued through resolution plans, 127 were in either BIFR or defunct, according to IBBI
 "3/4th of liquidated companies were in BIFR or defunct: IBBI data")
Another IBC fix?
Regulator's proposal for code of conduct for creditors deserves scrutiny
 "Another IBC fix?")
Boeing 777 held by Dutch sold; insolvency process to close now: Jet Airways
Jet Airways said one of Boeing 777 aircraft, which was under the custody of Dutch Administrator due to insolvency proceedings in Netherlands is sold, and proceedings to be utilised to close process
 "Boeing 777 held by Dutch sold; insolvency process to close now: Jet Airways")
Insolvency law's success needs to be appreciated, say experts
The insolvency law has provided a framework for resolution of stressed assets, and its success needs to be appreciated in comparison with the situation that prevailed prior to its implementation
 "Insolvency law's success needs to be appreciated, say experts")
IBC not a panacea for all ills, needs holistic assessment: IBBI chief Sahoo
Says haircuts taken by lenders is not IBC's fault, creditors staring at a haircut of 78% were not only rescued under the Code but their haircut was reduced to 61%
 "IBC not a panacea for all ills, needs holistic assessment: IBBI chief Sahoo")
Why controlling CoC conduct could be a challenging task for IBBI
Experts say such a code could lead to litigation, which may affect the decision-making ability of the committee
Streamline investment for insurance, pension funds in InvITs: NITI Aayog
A staggered approach should be followed for streamlining of investment guidelines and limits to keep pace with the growth in the InvIT market, it suggested
 "Streamline investment for insurance, pension funds in InvITs: NITI Aayog")
IBBI proposes amendments in liquidation norms to increase transperancy
In a bid to increase transparency in the liquidation process under the Insolvency and Bankruptcy Code (IBC), IBBI has proposed amendments to the regulations
 "IBBI proposes amendments in liquidation norms to increase transperancy")
Pre-pack resolution route needs incentives
Given that most MSMEs are informally organised, they may be averse to an insolvency resolution mechanism which displaces their founders
 "Pre-pack resolution route needs incentives")
MCA is working to issue code of conduct for creditors under IBC: Verma
This comes a month after a Parliamentary panel flagged the "disproportionately large and unsustainable 'haircuts' taken by the financial creditors over the years"
 "MCA is working to issue code of conduct for creditors under IBC: Verma")
Over 17,800 cases disposed of at pre-admission stage under IBC: Official
The IBC, which came into force in 2016, provides for a market-linked and time-bound resolution of stressed assets.
Feudalism of corporate debtors gone after IBC implementation, says CEA
With the implementation of the insolvency law, the days of feudalism of corporate debtors where they had considered it their divine right to be in control are gone: Chief Economic Adviser
 "Feudalism of corporate debtors gone after IBC implementation, says CEA")
NCLAT admits McLeod promoter appeal, to decide on constitution of CoC
On August 6, the National Company Law Tribunal (NCLT) had admitted an application filed by Techno for initiating corporate insolvency resolution process (CIRP) against McLeod.
Siva tests IBC: NCLAT's choice between judicial wisdom & commercial wisdom
Siva Industries, a machinery part-maker, was admitted to the bankruptcy court on July 5, 2019
'IBC is a road under construction,' says IBBI chairperson M S Sahoo
Referring to the pre-pack scheme of insolvency resolution for micro, small and medium enterprises (MSMEs), he says it takes three-six months for the market to understand a new framework
 "'IBC is a road under construction,' says IBBI chairperson M S Sahoo")
Get more judges: Bankruptcy logjams make India no country for dying firms
Across India, 27 bankruptcy tribunals are being run by 29 judges; at least 25 short of what's required.
 "Get more judges: Bankruptcy logjams make India no country for dying firms")
IBC reform helps insolvency professional assess avoidance transactions
Recent amendments by the Insolvency and Bankruptcy Board place the insolvency professional at the fulcrum of the resolution process.
 "IBC reform helps insolvency professional assess avoidance transactions")
CoCs need best practices code
'The delay in insolvency case resolution is another problem area where CoCs need to play a more proactive role', says the author
 "CoCs need best practices code")
