Resolution professional is appointed to conduct insolvency resolution process and manage negotiation between creditors and debtors under corporate insolvency resolution process (CIRP).
The Centre is considering an increase in the National Company Law Tribunal's bench capacity, while the Standing Committee of Finance suggests fast-track courts.
The proposed amendment to the Insolvency and Bankruptcy Code aims to reduce timelines and provide for a mechanism that involves minimal interaction with the court. It fails on both counts.
New bill aims to fix key issues with IBC 2016, including delays & patchy implementation, and protect creditors, with window for genuine promoters to retain control of their companies.
If every resolution is subject to reversal years later, and every acquirer must factor in the risk of ED or other state action, then the core promise of the code is being undermined.
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.
Over millennia, men, social groups, and countries have fought over land, resources, women, even honour, but the arrival of Abrahamic monotheism brought in a...
This special edition of Cut The Clutter, straight from the Siliguri corridor, details the strategic importance of the narrow strip of land in West Bengal, and how it’s a vital link connecting the Northeast to the rest of India.
We now live in a world order that will keep shifting. India must use this window. This also means we remain disciplined enough not to be knee-jerked into reacting to what Pakistan sees as its moment in the sun.
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