A 3-judge bench, led by CJI, slammed the 2 bodies’ ‘growing tendency’ to disregard SC’s orders, besides political appointments & lack of infra, while also highlighting shortcomings of the IBC.
The Supreme Court on Wednesday revived insolvency proceedings following a lawsuit by a trust representing U.S. lenders who say they are owed $1 billion by the company.
It was NDA that introduced Insolvency and Bankruptcy Code in 2016. IBC replaced earlier framework which was governed by various laws that made the process cumbersome.
NCLT has admitted BCCI’s insolvency plea against Byju’s over Rs 158 cr of allegedly unpaid dues from sponsorship deal. ThePrint explains what it means for ed-tech firm.
Data from Insolvency & Bankruptcy Board of India shows time taken to come up with a resolution plan is 2.5 times what it was 4 yrs ago. Recoveries are only about 1/3 of claim amounts.
Go First says its promoters have infused Rs 6,500 crore in airline since its inception & it has sought compensation of Rs 8,000 crore from engine maker Pratt & Whitney.
Covid induced backlog and secular crippling of the Adjudicating Authority’s functioning means we are fast approaching the pre-Code timelines for insolvency resolution, writes Ivan.
Insolvency and Bankruptcy Code is not immune to the shortcomings of India's justice system like delays despite being one of the key reform initiatives of the government.
RBI superseded boards of Srei Infra Finance and Srei Equipment Finance, and their insolvency process is expected to be IBC-like, as it was in DHFL’s case.
No two bankruptcies are the same, but India’s processes for handling them have some common deficiencies. It’s still not too late to turn the bankruptcy regime into a real institution.
Until now, units operating even in recognised industrial areas needed a separate factory licence. The move is expected to especially give a boost to small and medium enterprises.
As Narendra Modi becomes India’s second-longest consecutively serving Prime Minister, we look at how he compares with Indira Gandhi across four key dimensions.
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