Page 14 - Latest Updates on IBC
Focus on capital formation policy
It is vital to ensure that the clamour for suspending bankruptcy laws does not translate into reality
Dhanuka Lab implements resolution plan for debt-ridden Orchid Pharma
The resolution plan will fetch the secured lenders around 32.3% recovery
 "Dhanuka Lab implements resolution plan for debt-ridden Orchid Pharma")
GST compliance of companies under IBC: Gaps in the new mechanism
The gaps need to be plugged immediately if this long-standing issue has to be addressed keeping in mind the intent and objectives of IBC, 2016
Covid-19 impact: Banks want NPA forbearance for next two quarters or more
An account becomes NPA if default is beyond 90 days. With the present crisis, a huge number of accounts will fall in this category in the next two quarters
 "Covid-19 impact: Banks want NPA forbearance for next two quarters or more")
Top headlines: Nationwide lockdown, Flipkart halts new orders, and more
From telcos facing connectivity challenge, medicine supply hit to govt mulling OBC suspension, Business Standard brings top headlines of the day
 "Top headlines: Nationwide lockdown, Flipkart halts new orders, and more")
Srei Infra seeks one-year blanket moratorium on debt repayment for industry
Srei Infra wants Centre to intervene and ask state govts to clear all dues to contractors, expedite tax refunds, and release payments in arbitration awards
 "Srei Infra seeks one-year blanket moratorium on debt repayment for industry")
IBA withdrawal of communique on loans of up to Rs 200 cr stumps banks
IBA withdraws note on FinMin letter which had PMO inputs
 "IBA withdrawal of communique on loans of up to Rs 200 cr stumps banks")
Flaws in Today Homes IBC process, UVARC demands offer to be reconsidered
The CoC in this case comprise over 1,757 residential flat owners spread across 18 towers and 21 commercial units in Noida. No banks are creditors
 "Flaws in Today Homes IBC process, UVARC demands offer to be reconsidered")
Raising threshold for insolvency: Good for NCLT, bad for smaller creditors
Experts are of the view that a substantial increase in threshold might affect certain sectors severely
 "Raising threshold for insolvency: Good for NCLT, bad for smaller creditors")
Dealing with pandemic: Buyers, sellers need to reassess impact of COVID-19
Travel restrictions and other clampdown measures make time-critical deal-making a challenge, leading to legal and regulatory complications, say experts.
 "Dealing with pandemic: Buyers, sellers need to reassess impact of COVID-19")
Govt appoints Justice B L Bhat as officiating chairman of NCLAT
NCLAT Chairperson Justice Sudhansu Jyoti Mukhopadhaya retired on Friday
 "Govt appoints Justice B L Bhat as officiating chairman of NCLAT")
Just 10% of defaulted loans in non-major cos recovered under IBC: Ramesh
The first objective of the IBC was to save companies but with a mortality rate of 80 per cent it is not life saving, said Jairam Ramesh
 "Just 10% of defaulted loans in non-major cos recovered under IBC: Ramesh")
IBC provides new lifeline to save stressed firms from premature deaths
The Insolvency and Bankruptcy Code (IBC) provides for a time-bound and market-linked resolution of stressed assets.
 "IBC provides new lifeline to save stressed firms from premature deaths")
Lok Sabha passes Insolvency and Bankruptcy Code Bill amid noisy protests
Finance Minister Nirmala Sitharaman sought the cooperation of the members to pass the Bill in the House.
 "Lok Sabha passes Insolvency and Bankruptcy Code Bill amid noisy protests")
Realisation of 823 firms under IBC only 7% of admitted claims till January
Till January, financial creditors had recovered around 44.01 per cent
 "Realisation of 823 firms under IBC only 7% of admitted claims till January")
3 years of IBC: 7 charts offer insights into how the system has evolved
The amount recovered by financial creditors has varied, and does not show a clear improvement
 "3 years of IBC: 7 charts offer insights into how the system has evolved")
After resolution of big steel cases, banks expect low recoveries from IBC
A senior banker with a public sector bank said, not more than 30% recovery was expected from the RBI's second list
A good score-card
Increase in insolvency cases could pose challenges
 "A good score-card")
Key data that shows the progress IBC has made in saving a firm in distress
The latest data shows while the number of cases admitted to CIRP has almost doubled, so have the liquidations
 "Key data that shows the progress IBC has made in saving a firm in distress")
Govt's NPA gameplan: Rs 4 trn recovered via IBC proceedings, says Thakur
Addressing the 70th annual function of the Institute of ICAI, the junior finance minister said when Modi assumed office in 2014 in his first term, NPA stood Rs 52 trillion.
 "Govt's NPA gameplan: Rs 4 trn recovered via IBC proceedings, says Thakur")
