Bankruptcy code reforms must be handled with special caution
3 years, 4 months ago

Bankruptcy code reforms must be handled with special caution

Hindustan Times  

A parliamentary standing committee has called for an overhaul of the Insolvency and Bankruptcy Code, 2016. Bankruptcy code reforms must be handled with special caution Somehow, while assessing the effectiveness of the Code, too much emphasis has been laid on haircuts, which is often seen as the only determinant of its success. If Parliament is seriously looking to overhaul India’s insolvency law, it must revamp the judicial infrastructure. The law must provide a strict timeline for the National Company Law Tribunal to look into insolvency matters. India’s stressed asset market, which is estimated at $115 billion, presents a large opportunity for investors through the IBC process as well as out-of-court alternatives.

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History of this topic

Insolvency board moves to limit liquidators’ discretion
1 month ago

Insolvency board moves to limit liquidators’ discretion

Live Mint  

The Insolvency and Bankruptcy Board of India has sought to limit the discretion of officials authorized to liquidate insolvent companies and has said they must consult creditors compulsorily when rejecting the highest bids. In a proposal released for public feedback on Tuesday, the IBBI also said liquidators must verify the highest bidder for the assets of the company getting dissolved …

The Insolvency Code’s progress: From deep haircuts to fuller recoveries
1 month, 2 weeks ago

The Insolvency Code’s progress: From deep haircuts to fuller recoveries

Live Mint  

The Insolvency and Bankruptcy Code has long been associated with delays and financial creditors taking significant losses in high-profile corporate insolvencies. The National Company Law Appellate Tribunal dismissed challenges from competing bidders and upheld the resolution plan of Sarda Energy, ensuring full recovery for financial creditors. Similarly, in the more recent case of Sripriya Kumar, financial creditors received more than …

Bankruptcy resolutions expected to soar after Budget spells relief for RPs
1 year, 10 months ago

Bankruptcy resolutions expected to soar after Budget spells relief for RPs

Live Mint  

Liquidators in India, who are entrusted with winding up bankrupt companies, will no longer be prosecuted for failing to comply with income tax regulations. The Union Budget 2023 has decriminalized section 276A of the Income Tax Act which enabled criminal prosecution of a liquidator for failing to give notice of his/her appointment within 30 days or set aside amount or …

Supreme Court Annual Digest 2022 - Insolvency and Bankruptcy Code (IBC) With Parallel Citations
1 year, 11 months ago

Supreme Court Annual Digest 2022 - Insolvency and Bankruptcy Code (IBC) With Parallel Citations

Live Law  

Insolvency andBankruptcy Code, 2016 - Appealchallenging NCLAT order which reversed the order of the NCLT wherein it hadheld that the application under Section 9 of the Insolvency and BankruptcyCode, 2016 was not time-barred - Allowed - The failure of the NCLAT as thefirst appellate authority to look into a very vital aspect such as this,vitiates its order, especially when NCLT …

Why India's bankruptcy regime needs to be fixed
1 year, 11 months ago

Why India's bankruptcy regime needs to be fixed

Live Mint  

New Delhi: The government is proposing to make changes to India’s six-year-old Insolvency and Bankruptcy Code. It was introduced with the objective of simplifying insolvency and bankruptcy proceedings, protecting the interests of all stakeholders — the company, employees, debtors, and especially, creditors—and for timely revival of the company. 25,000 in line for Flipkart’s $700 mn Esop cash bonanza Reforms set …

Bankruptcy Code Dilemma and Challenges
2 years, 5 months ago

Bankruptcy Code Dilemma and Challenges

Live Law  

It Is Time For The Stakeholders And Authorities To Go Back And Analise And Not To Change The Board Recent detailed order of June 13, 2022 of NCLT Allahabad in the matter of Rathi Graphic Technologies Limited Vs Rajkumar Rathi and Others, has tried to open up debate on appropriateness of the law introduced through the provisions of the Insolvency …

Bettering Results : Partners From Top Law Firms Teach The Insolvency & Bankruptcy Code, 2016: Register Now!
2 years, 6 months ago

Bettering Results : Partners From Top Law Firms Teach The Insolvency & Bankruptcy Code, 2016: Register Now!

Live Law  

The Insolvency and Bankruptcy Code, 2016 is one of the most significant economic reforms implemented by the Indian government in recent years. Bettering Results is here to help you gain detailed knowledge and understanding from both theoretical and practical standpoints with the help of Top IBC Lawyers and leading insolvency professionals. Through this Certificate Course & Mentorship Program on "Insolvency …

Budget 2022: Amendments in Insolvency and Bankruptcy Code Likely for Faster Resolution
2 years, 11 months ago

Budget 2022: Amendments in Insolvency and Bankruptcy Code Likely for Faster Resolution

News 18  

Budget 2022 Expectations: The Union Budget session is set to start from January 31 and Union finance minister Nirmala Sitharaman will present the Budget on February 1, the ministry of parliament affairs said in a statement on Friday, January 14. This year, among many other key decisions, the government is likely to take up the Insolvency and Bankruptcy Code amendment …

"Book Review Of "Insolvency And Bankruptcy Code- Law And Practice"
3 years, 11 months ago

"Book Review Of "Insolvency And Bankruptcy Code- Law And Practice"

Live Law  

Writing a commentary on a law that is still growing at a pace faster than the fortunes of e-commerce businesses is, painful and challenging. The sheer volume of judgments from the Constitutional Courts and the National Company Law Appellate Tribunal and National Company Law Tribunals constitute the judicial side of the scheme of things under the Insolvency and Bankruptcy Code. …

The Insolvency And Bankruptcy Code (Amendment) Ordinance, 2020 And Remedies Available To Creditors
4 years, 2 months ago

The Insolvency And Bankruptcy Code (Amendment) Ordinance, 2020 And Remedies Available To Creditors

Live Law  

The speculations over altering the operation of Insolvency and Bankruptcy Code, 2016 have been doing rounds since the outbreak of COVID-19. Section 10 A introduced in the principal act in effect suspends initiation of corporate insolvency resolution process contained under Section 7 which empowers a financial creditor to initiate it, Section 9 initiation by operational creditors and Section 10 initiation …

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