Page 2 - Insolvency And Bankruptcy Code Ibc

Top business houses spread themselves too thin: Centrum Group exec chairman

'There is difference between building a refinery and an app-based business' Jaspal S Bindra

IBBI chairman M S Sahoo defends 94% haircut for stressed firm

The resolution plan allowed the acquirer, Synergies Castings, to pay Rs 0.54 bn to its creditors. The total dues were over Rs 9 bn

RBI's first defaulter list: Liquidation value of steel firms at Rs 540 bn

The bidders will have to make their offers above this floor price, with upfront cash to be adjusted against bank debt

Punters bet on shares of NCLT firms; stock prices rise 40-100% in 3 months

Besides 12 firms that have been referred to NCLT, share prices of firms which are part of RBI's second list of defaulters have also gained

Insolvency resolution: Another defaulters' list sent to NCLT

On Friday, banks sent all companies from the Reserve Bank of India's second list of defaulters on large-size corporate loans to the National Company Law Tribunal (NCLT) for insolvency resolution.This was after RBI refused to a proposal from the banks to relax the rules in this regard for those companies which are close to a resolution. Videocon Industries, Jaiprakash Associates and Jayaswal Neko Industries are now among those to face NCLT proceedings for resolution of their loans. These three were recommended by banks for resolution outside the NCLT process but RBI, as mentioned, negatived this.Under the Insolvency and Bankruptcy Code, a defaulting company's board of directors are suspended and NCLT appoints an Insolvency Resolution Professional to manage its day to day affairs. The company will then be sold to the highest bidder who takes over the largest portion of the debt. Banks are also expected to write off a substantial portion, up to 70 to 80 per cent, on the dues.In its ...

Why last-in-queue lenders file most insolvency pleas

Yet, such parties have triggered 44% of corporate insolvencies this year, according to the latest data from IBBI

IBC resolution of steel firms pushed to FY19

Lenders to miss Dec-end deadline for Essar, Bhushan Power, Electrosteel, Monnet Ispat

Access to info utilities under bankruptcy law: IBBI proposes, RBI disposes

Central bank says information utilities can source all information only from credit bureaus; dispute could prolong litigation, hurt recovery of capital

Firms acquiring stressed assets under insolvency may get tax relief

The relief on this front likely to be provided in the Budget, through GST Council and with cooperation of states

Over 2,400 cases filed before NCLT since IBC enactment

In 2015-16, total number of complaints against listed companies stood at 14,978

Don't undermine the IBC

Deadlines should not be extended arbitrarily

Firms, lenders ask RBI to extend insolvency deadline

If debt resolution is not finalised by December 13 for the 28 companies, insolvency proceedings will kick off

Shun rhetoric, appreciate IBC problem

The IBC ordinance is another example of attempting to write a law to solve a problem that is not properly defined at the threshold

Insolvency and Bankruptcy Code: Lenders, bidders split on assets valuation

Banks want enterprise value; bidders say insolvency law provides for only liquidation value

Changes to Insolvency Code: Banks likely to face legal tangle

A lot of hope was built at banks around benefits from prompt resolution under the IBC from the fourth quarter of FY18

Bankruptcy ordinance: Motivated criticisms?

The lack of strong promoter bids may dilute the competitive process between the remaining resolution applicants and so, lower the recovery for lenders

Insolvency Code ordinance: Promoters' loss is PEs' gain

The ordinance has barred most promoters of the defaulting firms from bidding for their assets in the bankruptcy auction

Promoters of stressed companies may challenge IBC tweak in court

Essar group, Bhushan Steel and JSW group likely to be impacted by changes

Insolvency ordinance: Defaulting promoters all set to lose their companies

Wilful defaulters and borrowers with NPAs for a year or more cannot bid

Jolt for errant promoters

Amendments to the insolvency code will send a strong signal