M S Sahoo

Possible to improve IBC with non-legislative fixes: ex-IBBI chief M S Sahoo

In a Q&A, Sahoo also calls for increasing the number of members in NCLT in order to expedite insolvency and bankruptcy cases

Variable capital firms to boost India's fund management space, says Sahoo

Such entities have a variable capital base as they issues and redeems shares on an on-going basis. With every issue or redemption, the capital base of the VCC changes

IBC not a panacea for all ills, needs holistic assessment: IBBI chief Sahoo

Says haircuts taken by lenders is not IBC's fault, creditors staring at a haircut of 78% were not only rescued under the Code but their haircut was reduced to 61%

Need objective assessment of working of insolvency law: IBBI chief

IBBI Chairperson M S Sahoo on Thursday pitched for a comprehensive and objective framework to assess the working of the insolvency law to make prompt course corrections.

We didn't expect flood of insolvency cases, says IBBI chairman M S Sahoo

He also said that not many applications had been filed under the prepackaged scheme brought in for micro, small and medium enterprises (MSMEs)

Normalcy restored for resolution of stress under IBC: IBBI's M S Sahoo

IBBI Chairperson M S Sahoo on Thursday said "normalcy" has been restored with respect to resolution of stress under the insolvency law, with the expiry of suspension of fresh proceedings. After a year of relevant provisions being suspended amid the coronavirus pandemic, fresh proceedings under the Insolvency and Bankruptcy Code (IBC) can now be initiated. Certain provisions under the Code, which provides for time-bound and market-linked resolution of stressed assets, were suspended with effect from March 25 last year in the wake of the pandemic significantly impacting business activities. The suspension, which was in place for one year, ended on March 24. IBBI (Insolvency and Bankruptcy Board of India) Chairperson M S Sahoo on Thursday said three things are clear now. "On Tuesday, the Supreme Court cleared the haze around moratorium on loans. Second, the suspension on initiation of corporate insolvency proceedings in respect of COVID-19 defaults expired on Wednesday. Third, the ...

Liquidation an outcome of market forces: IBBI chairperson M S Sahoo

Sahoo was responding to the criticism that only 25 per cent of IBC cases end up in resolution while the remaining get liquidated

M S Sahoo explains achievements, evolution, and challenges of the IBC

IBC is an option; stakeholders may not use it even if freeze not extended, says M S Sahoo

Prepack insolvency resolution: Swiss Challenge options, IBC tweaks on cards

The prepack is to start with a base resolution plan (BRP), which will face a Swiss Challenge; and this should come from the promoters if they are eligible and interested

250 distressed firms rescued under insolvency law till June: IBBI chief

The Insolvency and Bankruptcy Code has been in force for four years and provides for a time-bound and market-linked resolution framework for stressed assets

Many companies are in default due to force majeure clauses: IBBI Chief

M S Sahoo said that the average life of S&P 500 companies has reportedly reduced from 90 to 18 years over the last century

Suspension of some IBC provisions aimed at rescuing viable companies: Sahoo

IBBI said that some IBC provisions were suspended due to the Covid-19 situation and there is no complete ban or prohibition on lenders with regard to proceedings for corporate defaults

Both debtors & creditors will be wary of using IBC in short term: M S Sahoo

As the banking system gears up to support businesses in face of defaults due to Covid 19, resolution of stressed assets could be the next big task for system, says M S Sahoo

IBC provides new lifeline to save stressed firms from premature deaths

The insolvency law provides a new lifeline for stressed companies to save them from premature death, IBBI Chairman M S Sahoo said on Friday. The Insolvency and Bankruptcy Code (IBC) provides for a time-bound and market-linked resolution of stressed assets. Speaking at an event here, Sahoo said the IBC provides a new lifeline to a company which has a value and has to be saved from premature death. Exemplifying his point, Sahoo said the average life of S&P 500 companies has reportedly come down from 90 years to 18 years over the last century. There is a kind of danger to the life of a business and at times, freedom results in unfair battles at market place, he noted. As many as 190 companies have been rescued till December 2019 through resolution plans and they owed Rs 3.8 lakh crore to creditors. The Insolvency and Bankruptcy Board of India (IBBI) is a key institution in the insolvency ecosystem.

Need to improve capacity building of stakeholders, says IBBI chairman

Sahoo reiterated that there was no shortage of resolution professionals and registered valuers

12 large NPA cases yet to come before IBBI, says M S Sahoo

The 12 a/cs are led by SBI (6 of them), PNB, ICICI Bank, Union Bank, IDBI Bank & Corporation Bank

Corporate debt market could be the benchmark of our performance: M S Sahoo

Interview with chairman of the Insolvency and Bankruptcy Board of India

M S Sahoo takes charge as Insolvency and Bankruptcy Board chief

Sahoo, a financial markets expert, was appointed as IBBI Chairperson for a period of five years last month