Page 15 - Latest Updates on IBC
Corporation Bank Q3 net jumps 7-fold to Rs 421cr, gross NPA at Rs 19,557 cr
Income increased to Rs 6,051.93 crore, from Rs 4,112.29 crore. On a standalone basis, the net profit increased to Rs 420.68 crore in 3rd quarter ended December 31, 2019 from Rs 60.53 crore a year ago.
 "Corporation Bank Q3 net jumps 7-fold to Rs 421cr, gross NPA at Rs 19,557 cr")
Systemic change: Hits and misses of India's bankruptcy reforms code
IBC has had a carrot-and-stick effect - making companies serious about governance and bringing stuck capital back into the economy. It seems to be a work in progress, but the system is surely working
 "Systemic change: Hits and misses of India's bankruptcy reforms code")
With tweaks, June 7 circular will fly
The RBI is yet to come out with the reference date for loan accounts less than Rs 1,500 crore
Withdraw draft resolution plan of management: DHFL to stock exchanges
DHFL is now under corporate insolvency resolution process as per IBC
 "Withdraw draft resolution plan of management: DHFL to stock exchanges")
Budget 2020: Prakash Javadekar hints at 'action plan' for economic revival
Markets to open for regular trading on February 1
 "Budget 2020: Prakash Javadekar hints at 'action plan' for economic revival")
No wish for laws treating businesses with suspicion: FM Nirmala Sitharaman
This, after Tata Sons chairman said that businesses need supervision and not suspicion
 "No wish for laws treating businesses with suspicion: FM Nirmala Sitharaman")
Explained: Why lenders prefer IBC over SARFAESI Act for recovery of dues
This, despite the fact that changes in the Act which come into effect shortly give primacy to secured creditors
 "Explained: Why lenders prefer IBC over SARFAESI Act for recovery of dues")
Legislative adventurism
A proposal for a new law on bank resolution has already raised many troubling questions
 "Legislative adventurism")
SC agrees to examine validity of Centre's decision to amend IBC Ordinance
The bench issued notice to the Centre seeking its response on the pleas
Changes in IBBI norms bar re-entry of ex-promoters in cos under liquidation
The amendment is in line with the intent of the Section 29A of Code preventing any sort of re-entry of ex-promoters
Jaypee Infra's IRP approaches NCLT Allahabad for approval of NBCC's bid
Last month, NBCC won the bid to acquire Jaypee Infratech after financial creditors, including lenders and homebuyers, approved its resolution plan
 "Jaypee Infra's IRP approaches NCLT Allahabad for approval of NBCC's bid")
Here's why Insolvency and Bankruptcy Code is a policy masterstroke
From 161 resolved cases, the realisable amount stands at over Rs 1.6 trn
SBI to float $2-bn distressed asset fund; to bring in global partners
The size of the distressed asset fund is expected to be on the lines of the government of India-backed AIF for distressed housing projects
 "SBI to float $2-bn distressed asset fund; to bring in global partners")
Best of BS Opinion: Does IBC work for financial companies?
From the manner in which dormant sub-nationalism is coming to the surface to all that could possibly go wrong if the resolution of financial service providers happens under the IBC, here's a selection
 "Best of BS Opinion: Does IBC work for financial companies?")
Recovery of stressed assets improved marginally in FY19 driven by IBC: RBI
The amount involved under IBC was Rs 1.66 trillion and more than Rs 70,819 crore was recovered, with a recovery rate of 42.5%
 "Recovery of stressed assets improved marginally in FY19 driven by IBC: RBI")
Is sheer size the biggest hurdle in the NCLT route for McLeod Russel?
Viability of the tea industry is another factor that is holding back companies from bidding for India's largest tea company
 "Is sheer size the biggest hurdle in the NCLT route for McLeod Russel?")
Govt to bring in ordinance to amend insolvency law to remove ambiguities
The Code has already been amended thrice and a Bill to amend it was introduced in the Lok Sabha on December 12
 "Govt to bring in ordinance to amend insolvency law to remove ambiguities")
LS Speaker refers IBC Amendment Bill to standing committee on finance
It was passed by the Cabinet and subsequently introduced in the Lok Sabha during the Winter session earlier this month
Proposed changes to IBC may augur well, but apprehensions still remain
In its third year, IBC has managed to plug important gaps, but this is not the end of the road with issues coming to light at every turn
Over 9,600 cases worth Rs 3.75 trn disposed of at IBC pre-admission stage
Further, the ministry said that in the 161 resolved cases, the realisable amount is Rs 1,56,814 crore
