Ibc Rules

JSW Cement plans to double capacity, acquire assets through IBC route

Most of the JSW group businesses are closely linked to each other, particularly to steel business. Among its risk factors, JSW Cement's documents noted its dependence on JSW Steel and its subsidiary

Expert panel suggests adoption of voluntary mediation in insolvency cases

The committee also noted that not all scenarios under the IBC are fit for resolution through mediation. For instance, issues such as avoidance transactions are excluded

More disclosures, status report now part of voluntary liquidation plan

Till financial year 2022-23, 1,562 companies initiated voluntary liquidation, of which final reports were submitted in 1,039 cases and 17 of these were withdrawn, according to the IBBI data

Govt to create 'admission benches' in NCLT to expedite CIRP applications

The admission bench will admit/reject the application within 14 days of receiving it

NCLT has power to decide IBC disputes, not HC: Go First RP to Delhi HC

Kaul also questioned which resolution applicant would be interested in the Corporate Debtor if it's not revived?

Future Retail's resolution professional files for liquidation before NCLT

The Corporate Insolvency Resolution Process (CIRP) was initiated against Future Retail by its lender Bank of India (BOI) following loan defaults

Go First lenders likely to recover Rs 1,600-1,900 cr through Thane land

The Go First lenders are seeking to recover around 25-30% or Rs 1,600 crore-Rs 1,900 crore of their exposure to the airline

Centre pushes for faster admission of corporate insolvency cases at NCLT

MCA finalising draft guidelines to reduce delays at tribunal

NCLAT to decide over NCLT order on insolvency against Coffee Day Global

An appeal has been filed before the National Company Law Appellate Tribunal (NCLAT) challenging the NCLT order to initiate insolvency proceedings against Coffee Day Global Ltd (CDGL), which owns and operates the popular chain Cafe Coffee Day. Malavika Hegde, the suspended Director of CDGL, has approached the Chennai bench of NCLAT against the National Company Law Tribunal (NCLT) order to initiate Corporate Insolvency Resolution Process (CIRP) against Coffee Day Global. The application, seeking a stay on the NCLT order, was listed for hearing before a NCLAT bench comprising Justice Rakesh Kumar Jain and Shreesha Merla on Friday. Earlier on July 20, the Bengaluru bench of the NCLT passed an order over a plea filed by IndusInd Bank, a financial creditor of the company, claiming dues of Rs 94 crore. The NCLT had also appointed Shailendra Ajmera as the interim resolution professional after suspending the board. The order has been challenged by Malavika Hegde, a director on the suspende

Explained: Why IBC is less bankable for the resolution professionals

Increasingly, firms are now outsourcing many of these services and using the company employees instead of getting outsiders

Centre to come up with creditor-led insolvency resolution framework: Report

The creditors and debtors will be allowed to reach an informal agreement to resolve the bankruptcy case and later approach the NCLT to admit cases

165 IBC liquidation cases saw 94% asset value erosion since 2016: Report

It is surprising as the lenders mostly lend loans keeping in mind the margin and the promotor's contribution

India economy to reach $7 trillion mark in next seven years: CEA Nageswaran

Nageswaran added that the economy will be $3.5 trillion by the end of the current fiscal, FY23

CBIC asks taxmen to recover lower dues from firms under insolvency

Issues a separate circular on limitation period of show-cause notices

Speed and capacity

Restoring trust in IBC must be a priority

Realisation through IBC 201% of liquidation value as of Sept: RBI

SARFAESI and Debt Recovery Tribunals have yielded recovery rates comparable to the IBC mechanism, says Trend and Progress Report

CoC raises base price of Reliance Capital auction to Rs 6,500 crore

Auction to be held on two days, starting December 22

Corporate insolvency: Rethinking irregular transactions

So far 786 applications have been filed to recover over Rs 2.2 trillion allegedly lost through irregular transactions. Retrieving this needs a law, policy and regulatory focus

BS Number Wise: Asset reconstruction companies need to rebuild

They have been losing business as the IBC process picks up pace

NCLT extends Reliance Capital debt resolution deadline to January

This is the third deadline extension as the lenders seek better offers from the bidders