Corporate Insolvency Resolution Process
RBI may allow 66% lenders' approval for resolution of stressed assets
The original February 12, 2018, circular was explicit that resolution plans should be drawn up on unanimous approval by all lenders
 "RBI may allow 66% lenders' approval for resolution of stressed assets")
IBBI needs to have more powers, says NCLAT chairperson Justice Mukhopadhaya
According to Mukhopadhaya, 1,100 corporates are undergoing insolvency resolution process and about 250 of them have completed the process by resolution or liquidation
 "IBBI needs to have more powers, says NCLAT chairperson Justice Mukhopadhaya")
Insolvency process: IBBI rejigs norms, specifies timeline for resolution
With the amended norms, there is more clarity on procedural requirements for various classes of creditors, including home buyers
 "Insolvency process: IBBI rejigs norms, specifies timeline for resolution")
Bankruptcy cases: Govt may allow more time to restructure as lawsuits mount
The rules mandate that a bad-loan resolution plan must be agreed upon within 270 days, failing which they require liquidation of the company's assets
 "Bankruptcy cases: Govt may allow more time to restructure as lawsuits mount")
Insolvency and Bankruptcy Code left far too much room for interpretation
Given how high the stakes are for promoters for whom their companies are their only identity and for bidders who are hoping to take a competitor out, litigation should have been expected
 "Insolvency and Bankruptcy Code left far too much room for interpretation")
Defaulting promoters must be barred from bidding: Axis Bank chief
Axis Bank chief Shikha Sharma said that there is 'some conversation' on this aspect already
 "Defaulting promoters must be barred from bidding: Axis Bank chief")
