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What is IBC
Latest Updates on IBC
Initially, the platform will be deployed in pilot mode, with a full rollout planned at a later date after incorporating improvements based on usage feedback
Six of the original ten bidders, including NTPC, have now submitted revised offers close to Adani's bid, demonstrating strong competition and driving up the asset's value
India's G20 Sherpa called for opening doors to non-sovereign or private players to deploy technology for improved court management
Both the finance minister and the economic survey have highlighted the success of IBC
In accounting terms, a going concern entity is expected to survive and thrive for at least the next 12 months, even if it is going through insolvency proceedings
However, it is still taking 679 days on average to conclude the resolution process, as against the standard timeline of 330 days
Section 10A deals with the suspension of initiation of insolvency process for any default arising on or after March 25, 2020, for a period of six months or extending to one year
The High Court had observed that the objective of the legislature was not to burden a special court comprising a sessions judge with trials under the IBC
Experts point out that though the IBBI data reflects a steady rise in the total number of insolvencies admitted, the year-on-year increase does not show a consistent trend
SpiceJet informs NCLT of near resolution in dispute with aircraft lessor Celestial Aviation requested an adjournment to finalise the settlement process
IBBI said that the credible threat of the code that a company may change hands has changed the behaviour of debtors
Even if we have a majority government, economic performance will be sub-optimal without political consensus on reforms
Company says it is developing products are safe at high temperatures and have a longer life
Swaminathan J, deputy governor, RBI said that very often business conglomerates have intricate corporate structure with inter-connected related-party relationships that add to the complexity
Litigation tactics of corporate debtors and poor judicial infrastructure among reasons for delay
Here is the best of Business Standard's opinion pieces for today
Despite potential biases introduced by the Dosa approach in analysing its efficacy, the law appears successful in delivering on its key parameters
The IBC, which came into force in 2016, is a key legislation aimed at resolving stressed in a time-bound and market-linked manner
Group insolvency remains an ill-defined area in the IBC. Here's why it needs a clear framework