Insolvency law experts say that invoking personal guarantees goes against the spirit of the IBC
Banks have been waiting for their dues since 2017 as the issue over naming of resolution professional and consolidation of all group firms into one resolution plan delayed the whole process
Big developers are in wait-and-watch as leveraged developers have made use of the six-month loan moratorium, effectively avoiding defaults
Companies were looking for a six-month extension; suspension doesn't apply to defaults before March 25
The proposal is to extend the halt on new bankruptcy cases for another six months past its currently scheduled ending point this week
How two laws dealing with insolvent companies may work at cross-purpose at times
The former giant of the Indian corporate world is caught on the shoals of a long-drawn insolvency process even as lenders face the prospect of losing most of their money
Such telcos should pick up AGR bill, says apex court
IBBI said that some IBC provisions were suspended due to the Covid-19 situation and there is no complete ban or prohibition on lenders with regard to proceedings for corporate defaults
Resolution professionals and liquidators can also facilitate claw-back or disgorgement of value, if any, lost through avoidance transactions
Market players said the stock is easily prone to manipulation as hardly any shares are with the public
Reprieve can be extended up to a year via govt notification; default committed before March 25 not to enjoy benefit
On Wednesday, the Union Cabinet gave approval to the suspension of the IBC for Covid-19-related stress
Suspension of new IBC action to impact resolution; lenders may also have to take bigger haircuts
The Indian Banks' Association can be expected to begin formal discussions with the wider banking fraternity over the next fortnight
As the banking system gears up to support businesses in face of defaults due to Covid 19, resolution of stressed assets could be the next big task for system, says M S Sahoo
Here is a summary of Business Standard opinion pieces for the day
Suspending IBC for an extended period would destroy it
By adopting a few steps many companies that have no alternative but to go to the NCLT to keep themselves from closing down can be saved
Fall in valuation, lack of demand cited as reasons