Page 2 - Bankruptcy Law

ILFS resolves Rs 52,200 cr debt, to address Rs 4,800 cr more by Mar: Kotak

The company is sitting on a cash balance of Rs 16,700 crore as of end-October, when it completed the third year of its bankruptcy

Capital crunch

Structural problems in banking system would affect recovery

Insolvency law caused rift with govt: Former RBI governor Urjit Patel

Instead of future-proofing gains, atmosphere to go easy on the pedal ensued, says his book

Govt wanted to dilute bankruptcy law: Urjit Patel on what led to the rift

Patel recalls the events surrounding his resignation in a book released on Friday

When broke, apply for bankruptcy, but process could be excruciating

Though the Insolvency and Bankruptcy Code, 2016 came into effect on December 2, 2016, and has rules for individual bankruptcy too, they have not been notified yet

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

Bad loans provisioning must not be based on trite formula: Sunil Kanoria

If these do get disclosed, then if a borrower has defaulted for only a day, no bank will again offer him a loan

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

Dealing with debt default

In India, we have seen how major defaulters have decamped to safe havens with covert but full political support

Govt explores pre-packaged bankruptcy plan to fast track insolvency process

The pre-packaged bankruptcy proposal aims to cut cost and time of resolution process

Bankruptcy law can be extended to cross-border assets: Corp affairs secy

The government is also looking to increase number members at the Mumbai bench of the NCLT to four from one now

Bankruptcy law to be tabled in Parliament during upcoming monsoon season

The law will help safeguard the interest of depositors

Insolvency and Bankruptcy Law to be operational by December

Other regulations and rules are under preparation and they will be put in the public domain for consultation

Arun M Kumar: Passage of bankruptcy law is a milestone

This important reform makes it more likely that India's banks can recoup their investments and therefore lend to promising Indian entrepreneurs

Letters: No joy for lenders

With reference to Debashis Basu's "Bankruptcy law: state - 1; market - 0" (May 16), there has been no dearth of laws in this country. The big question is about their implementation. First, while the bankruptcy law has been passed with praiseworthy speed, its implementation may take another 12 months. By that time our clever promoters would have either put up sufficient barriers or zeroed in on primary and collateral securities leaving a heap of grass to lenders.Second, it is not very clear how this law will cover various cases of default before the courts of law including debt recovery tribunals. It is not that easy to bring all these cases under the ambit of the new legislation. Third, why the government has prioritised workers' dues in the settlement process? Workers' dues will pose several issues of interpretation. Fourth, in many cases the assets left with the lenders in bankruptcy proceedings would form a minuscule part of the total dues. Lenders will be baffled when they stare at

Bankruptcy law: Sinha says employees' rights to be foremost

Both Houses of Parliament within days passed the Insolvency and Bankruptcy Code last week to unify more than four overlapping sets of about a century-old laws

Panel gives bankruptcy law overseas ambit

Joint committee cuts timeline from 60 to 45 days; suggests shield for employees