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Home > insolvency and bankruptcy code
insolvency and bankruptcy code
We are working out a mechanism where the resolution applicant, who through this entire court supervised process is acquiring a stressed asset as a going concern, will not be encumbered by the criminal liability relating to the company which has been caused by the previous management, an official said.
Govt plans to amend IBC to ring-fence buyers of stressed assets from prosecution
24 Nov 2019 5:28 PM

The move will help make the insolvency process more attractive for the bidders and instil confidence in them, sources said.

Finance Minister Nirmala Sitharaman, while talking to reporters, said states too will have to make efforts in improving the business climate in India, especially with regard to property registration. (Photo: File)
Sitharaman promises further GST simplification to help India improve biz ranking
24 Oct 2019 4:05 PM

India has jumped 14 places to rank 63rd in the World Bank's ease of doing business ranking index and the country aims to be within 50.

We had GST (goods and services tax). We had IBC (insolvency and bankruptcy code). All these reforms have been implemented in last three years. And as a result, we are in a transition period. A lot of cleanup has happened in the corporate sector, said SBI Chairman Rajnish Kumar. (Photo: File)
Indian economy in transition phase, growth to come back: SBI Chairman
24 Oct 2019 12:37 PM

Growth can come back. Because of a lot of (reforms), economy is in transition, said SBI chief Rajnish Kumar.

It is not a very happy situation. There is a feedback...threshold approach has to be looked at, Corporate Affairs Secretary Injeti Srinivas.(Photo: File)
Govt mulls raising Rs 1 lakh default threshold for invoking IBC: Srinivas
14 Oct 2019 10:16 PM

The banks should be looking at other options for recovering loans before invoking the IBC, said Corp Affairs Secy Injeti Srinivas.

MS Sahoo
IBC changes to maximise value, ease resolution
07 Sep 2019 1:03 AM

The sale of business as a going concern includes a sale of all the assets and liabilities of the company to the highest bidder.

Corporate Affairs Secretary Injeti Srinivas said discussions have been held with the microfinance industry regarding criteria for the proposed waiver for small distressed borrowers from the economically weaker section (EWS). (Photo: File)
Govt plans loan waiver for 'small distressed borrowers' under insolvency law
18 Aug 2019 2:17 PM

The proposed waiver would be offered as part of 'Fresh Start' provisions under the Insolvency and Bankruptcy Code.

We have requested the government for infusion. The government will decide as to how to be given (it to) the bank, said Syndicate Bank MD Mrutyunjay Mahapatra.
Syndicate Bank expects Rs 4,000 cr from NPA recovery in FY20
12 Aug 2019 5:07 PM

The bank has recovered about Rs 800 crore in the first quarter, said Syndicate Bank MD Mrutyunjay Mahapatra.

A bench headed by Justice R F Nariman, which disposed of a batch of over 180 petitions filed by various builders. (Photo: File)
SC upholds IBC amendments, status of homebuyers as financial creditors
09 Aug 2019 12:07 PM

The bench said only genuine homebuyers can invoke insolvency proceedings against the builder.

The Union of India/ILFS are directed to file a fresh Progress Report by September 3, 2019, said the appellate tribunal.
NCLAT expresses displeasure over delay in IL&FS resolution
08 Aug 2019 8:44 PM

NCLAT directed Corporate Affairs Ministry and IL&FS group to file a fresh progress report by September 3.

The full service carrier stopped flying on April 17 as it ran out of money for daily operations.
Jet Airways employees seek interim financial relief
06 Aug 2019 3:47 PM

AK Mohanty said one month's salary should be released to Jet Airways employees for their basic survival.

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