Page 9 - Latest Updates on IBC
IBC has brought change in attitude of lenders, borrowers: Goyal
Goyal said IBC is a game changing reform compared to the past, when resolution would take probably decades
 "IBC has brought change in attitude of lenders, borrowers: Goyal")
MCA plans to set up a IBC21 portal with data on bankruptcy proceedings
The project will be headed by the Insolvency and Bankruptcy Board of India and executed by an external agency, along the lines of the MCA21 portal
 "MCA plans to set up a IBC21 portal with data on bankruptcy proceedings")
UPA fell back on loosening govt's grip on PSBs: Montek Singh Ahluwalia
In a Q&A, the former deputy chairman of the Planning Commission, dwells on the areas where he feels UPA did not meet up to the challenges and the progress made by the BJP on certain fronts
 "UPA fell back on loosening govt's grip on PSBs: Montek Singh Ahluwalia")
Lenders to Aircel, Reliance Communications hope for faster resolution
RBI panel recommends that ARCs be allowed to bid for bankrupt firms
 "Lenders to Aircel, Reliance Communications hope for faster resolution")
After a much-needed capacity boost, NCLT readies to fast-track cases
NCLT got 18 fresh recruits, a new president and a chairman, during the last month, after more than one and a half years
 "After a much-needed capacity boost, NCLT readies to fast-track cases")
Reform IBC ecosystem for quicker resolution, maximum recovery: CRISIL
Only a few large cases have seen higher recovery, says agency.
 "Reform IBC ecosystem for quicker resolution, maximum recovery: CRISIL")
IBC helps recover Rs 2.5 trn in past 5 years from bad assets, says CRISIL
Only a few large cases see good recovery and the average time taken for resolution is 419 days.
Sell bad debts early, let ARCs take part in IBC: RBI committee
About 80 per cent of the recovery ARCs made came through the "deployment of measures of reconstruction that do not necessarily lead to revival of businesses"
 "Sell bad debts early, let ARCs take part in IBC: RBI committee")
Reliance Naval and Engineering lenders ask bidders to sweeten offers
The lenders are planning to close the deal within the next two weeks by voting on both revised proposals
 "Reliance Naval and Engineering lenders ask bidders to sweeten offers")
To boost CIRP outcomes, IBBI limits change in resolution plan to once
Gives option for a challenge mechanism, curbs discretion of CoC in considering certain resolution plans.
 "To boost CIRP outcomes, IBBI limits change in resolution plan to once")
The NARCL must attract top-quality talent, says Kroll's Tarun Bhatia
'My sense is that the NARCL will have to recruit good talent', says Bhatia
 "The NARCL must attract top-quality talent, says Kroll's Tarun Bhatia")
NCLT admits RBI's applications to initiate IBC proceedings against Srei
NCLT appointed Rajneesh Sharma as an administrator of the Srei Group firms
 "NCLT admits RBI's applications to initiate IBC proceedings against Srei")
IBC is a seminal reform; instrumental in changing feudal mindset: CEA
Terming Insolvency and Bankruptcy Code as a "seminal reform", Chief Economic Adviser KV Subramanian on Friday said it has been instrumental in changing the mindset of promoters of businesses by making them more accountable.
 "IBC is a seminal reform; instrumental in changing feudal mindset: CEA")
Insolvency professionals back success fee, warn against over-regulation
The NCLAT held that success fee is more in the nature of contingency and speculative it is not part of IBC provisions and is not chargeable
 "Insolvency professionals back success fee, warn against over-regulation")
McLeod's return from brink of IBC signals a brief respite for tea industry
In an industry in which more than half the production is accounted for by the small growers, analysts believe that big players may help bring production and pricing discipline
 "McLeod's return from brink of IBC signals a brief respite for tea industry")
Moratorium under IBC applies only to corporate debtor not to promoters: SC
The Supreme Court has held that moratorium under provisions of IBC which restrains initiation of any fresh proceedings applies only to the Corporate Debtor but does not protect the promoters
 "Moratorium under IBC applies only to corporate debtor not to promoters: SC")
NARCL: Another brick in the wall; not too different from other ARCs
Having several routes for NPA resolution has both advantages and disadvantages as the decision will finally be taken by the banks
 "NARCL: Another brick in the wall; not too different from other ARCs")
Centre concedes in SC, lets acting NCLAT chairperson continue till Sep 20
Justice Cheema was to superannuate on September 20, but Justice M Venugopal was appointed as the acting head of the tribunal.
 "Centre concedes in SC, lets acting NCLAT chairperson continue till Sep 20")
MCA, Finance Ministry hammer out key changes to IBC at review meet
The IBBI has said that the CoC functions in an unregulated environment
 "MCA, Finance Ministry hammer out key changes to IBC at review meet")
CoC resolution plan can't be modified or withdrawn: Supreme Court
The IBC has seen higher acceptance in the last ten quarters as maximum cases were admitted during this time
 "CoC resolution plan can't be modified or withdrawn: Supreme Court")
