Settle disputes by mediation: IBBI panel recommends
1 year, 1 month ago

Settle disputes by mediation: IBBI panel recommends

Live Mint  

New Delhi: An expert panel set up by bankruptcy rule maker, Insolvency and Bankruptcy Board of India, has recommended voluntary mediation as a way of settling disputes that arise when creditors take over sinking businesses. Viswanathan, the panel said in its report that mediation could be a complementary mechanism for settling disputes relating to bankruptcy resolution. The expert panel said it has tried to balance the goals of the Code, such as time-bound reorganization of the business and maximization of value of the assets, with autonomy to parties to voluntarily opt for ‘out-of-court’ mediation process to enhance the efficiency of the resolution process. The panel proposed to introduce mediation as an alternate dispute resolution method under IBC within existing statutory timelines, setting up an in-house mediation secretariat at the National Company Law Tribunal and recognition and enforcement of the mediated settlements under IBC.

Mediation Ibc Voluntary Process  law  insolvency  voluntary  process  settle  recommends  ibc  mediation  settling  bankruptcy  ibbi  disputes  panel  resolution

History of this topic

IBBI asks resolution professionals to be more open about losses carried forward
1 week, 2 days ago

IBBI asks resolution professionals to be more open about losses carried forward

Live Mint  

New Delhi: The Insolvency and Bankruptcy Board of India has told debt resolution professionals to be more open about bankrupt companies’ past losses that can be carried forward, helping attract fresh investments into the company. The idea is that greater disclosures about ‘carry forward’ of past losses, which will lower future tax liability of the company, could result in more …

I&B board to consider changes in bankruptcy laws amid low recovery rates: How will this streamline court proceedings?
1 month ago

I&B board to consider changes in bankruptcy laws amid low recovery rates: How will this streamline court proceedings?

Live Mint  

The government is considering changes to its bankruptcy laws, including streamlining court processes, amid growing concerns about lengthy proceedings and low recovery rates. While Prime Minister Narendra Modi’s administration revamped bankruptcy laws about a decade ago, mandating resolutions within 330 days, cases routinely exceed that limit. How will I&B's new bankruptcy laws streamline court proceedings? Meanwhile, data from the Reserve …

IBC Weekly Round-Up [17th February-23rd February 2025]
1 month ago

IBC Weekly Round-Up [17th February-23rd February 2025]

Live Law  

Nominal Index: BANK OF BARODA v. FAROOQ ALI KHAN & ORS., CIVIL APPEAL NO. Case Title: Edelweiss Asset Reconstruction Company Ltd. vs. Chirag Rejendrakumar Shah Case Number: Company Appeal No.242 of 2025 The National Company Law Appellate Tribunal New Delhi bench comprising Justice Ashok Bhushan, Barun Mitra and Arun Baroka have re-iterated that that liquidation of the Corporate Debtor should …

IBBI Introduces Amendments To Allow Homebuyers To Take Possession During CIRP
1 month, 1 week ago

IBBI Introduces Amendments To Allow Homebuyers To Take Possession During CIRP

Live Law  

The Insolvency and Bankruptcy Board of India has introduced amendments to the IBBI Regulations, 2016 through Notification No. An Overview of Amendments to the IBBI Regulations, 2016 Handing Over the Possession Regulation 4E has been incorporated which empowers the Resolution Professional to handover the flats, buildings or apartments during resolution process to Homebuyers after taking approval of the Committee of …

Cross Border Insolvency And Bankruptcy & Corporate Restructuring
1 month, 3 weeks ago

Cross Border Insolvency And Bankruptcy & Corporate Restructuring

Live Law  

Trade, investment, and cross-border economic activity increased after India's economy was liberalized in the 1990s. Due to the country's expanding economic integration, which has led to Indian businesses operating abroad and dealing with cross-border insolvency concerns, this phenomenon is becoming more and more significant in India. The Cross-border Insolvency Rules/Regulation Committee approved Draft Part Z subordinate legislation, which was created …

Economic Survey 2025: IBC nudging companies to resolve their distress early
1 month, 4 weeks ago

Economic Survey 2025: IBC nudging companies to resolve their distress early

Live Mint  

The Economic Survey 2024-25 lavished praise on the Insolvency and Bankruptcy Code for transforming the behaviour of distressed companies, highlighting that the law has acted as a deterrent, encouraging many firms to resolve their financial distress early in order to avoid the consequences of a resolution process. they are resolving when default is imminent, on receipt of a notice for …

Insolvency claims: Pre-NCLT mediation needs a mindset shift in its favour
2 months, 2 weeks ago

Insolvency claims: Pre-NCLT mediation needs a mindset shift in its favour

Live Mint  

The Insolvency and Bankruptcy Board of India has recommended the addition of a stage for voluntary mediation in insolvency cases filed by operational creditors, based on the findings of its expert committee and the Indian Institute of Insolvency Professionals of ICAI. The addition of the stage for voluntary mediation, under the provisions of the Mediation Act, will help parties reach …

Mediation Council of India: A crucial missing link in commercial dispute reforms
3 months ago

Mediation Council of India: A crucial missing link in commercial dispute reforms

Live Mint  

New Delhi: Amid a growing policy push for mediation, legal practitioners have pushed for the urgent formation of a council comprising experts and policymakers to determine the rules and procedures involved in mediation. While the 2015 Commercial Courts Act created designated courts to resolve commercial disputes, with mediation playing a crucial role, the 2023 Mediation Act stipulated that a Mediation …

2024 year-end review: How legal precedents and IBC reforms reshaped India's financial system
3 months, 1 week ago

2024 year-end review: How legal precedents and IBC reforms reshaped India's financial system

Firstpost  

The Indian banking system has undergone significant changes in recent years, largely due to the growing economy and increased consumer spending. Recovery statistics and IBC The enactment of the Insolvency and Bankruptcy Code in 2016 marked a transformative change in India’s banking and corporate law, providing a responsive framework for reorganising distressed corporate debtors and maximising their value. Creditors have …

Insolvency process: RBI Deputy Guv pitches for enforceable code of conduct for CoC
3 months, 3 weeks ago

Insolvency process: RBI Deputy Guv pitches for enforceable code of conduct for CoC

Live Mint  

New Delhi, Dec 7 Reserve Bank Deputy Governor M Rajeshwar Rao on Saturday pitched for an enforceable code of conduct for the Committee of Creditors under the insolvency resolution process. Even when the resolution plan is agreed upon, Rao said there have been instances of non-participation in the CoC meetings and a lack of effective engagement, coordination or information exchange …

Mediation to take centre stage in debt resolution
4 months ago

Mediation to take centre stage in debt resolution

Live Mint  

New Delhi: India’s bankruptcy regulator and the central government will consider making mediation mandatory between defaulting companies and their creditors before moving proceedings into bankruptcy courts, two persons informed about the development said. Currently, work is underway to offer mediation as a voluntary option for operational creditors like vendors and service providers under bankruptcy rule maker Insolvency and Bankruptcy Board …

Insolvency board moves to limit liquidators’ discretion
4 months, 1 week 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 …

Buyers in possession of plot, flat or building must be given ownership: IBBI
4 months, 2 weeks ago

Buyers in possession of plot, flat or building must be given ownership: IBBI

Hindustan Times  

The Insolvency and Bankruptcy Board of India has proposed reforms to streamline the insolvency process for real estate companies and enhance protection for homebuyers. For thousands of buyers awaiting registration of housing units in projects undergoing the Bankruptcy resolution process, the IBBI has proposed that ownership of the plot, apartment or building should be transferred to buyers who are in …

Vendors, suppliers may get to try mediation before moving bankruptcy courts
4 months, 3 weeks ago

Vendors, suppliers may get to try mediation before moving bankruptcy courts

Live Mint  

New Delhi: The Insolvency and Bankruptcy Board of India has proposed that operational creditors such as vendors and service providers, which account for the largest number of admitted cases, should have the option of exploring mediation with a defaulting company before dragging them to overburdened tribunals. If mediation fails, the operational creditors may approach a tribunal, the bankruptcy rule-maker said …

Weekly Digest Of IBC Cases: 22nd July 2024 To 28th July 2024
7 months, 3 weeks ago

Weekly Digest Of IBC Cases: 22nd July 2024 To 28th July 2024

Live Law  

Supreme Court IBC | CIRP Of Holding Company Cannot Include Subsidiary's Assets: Supreme Court Case no. Insolvency Resolution Of Corporate Guarantor Won't Bar Creditor From Filing CIRP Against Corporate Debtor For Balance Debt : Supreme Court Case Title: BRS Ventures Investments Ltd. 313 of 2024 The National Company Law Appellate Tribunal, Delhi bench of Justice Ashok Bhushan and Mr Barun …

Directing Corporate Debtor To Civil Courts Or Arbitration For Admitted Dues Undermines IBC Objectives: NCLT Mumbai
7 months, 3 weeks ago

Directing Corporate Debtor To Civil Courts Or Arbitration For Admitted Dues Undermines IBC Objectives: NCLT Mumbai

Live Law  

The National Company Law Tribunal, Mumbai bench of Kuldip Kumar Kareer and Anil Raj Chellan had held that directing Corporate Debtor to seek resolution through civil courts or arbitration for even admitted dues would undermine the objectives of the Insolvency and Bankruptcy Code. The Corporate Insolvency Resolution Process was initiated against the Corporate Debtor by the National Company Law Tribunal, …

Half Yearly Digest Of IBC Cases : January To June,2024
8 months, 1 week ago

Half Yearly Digest Of IBC Cases : January To June,2024

Live Law  

Supreme Court IBC | Moratorium Under S 14 No Bar To Execute Decree Against Directors/Officers Of Corporate Debtor: Supreme Court Case Title: Ansal Crown Heights Flat Buyers Association vs. M/S. : Company Appeal No.231 of 2023 The National Company Law Appellate Tribunal, New Delhi, comprising Justice Ashok Bhushan and Mr. Barun Mitra, has held that the Corporate Debtor cannot be …

Number of resolutions under IBC to go up every year: IBBI chairman
8 months, 2 weeks ago

Number of resolutions under IBC to go up every year: IBBI chairman

New Indian Express  

NEW DELHI: Amid criticism over delayed resolution of cases under the Insolvency and Bankruptcy Code, the chairman of insolvency regulator pointed out on Friday that 270 cases defaults were resolved in 2023-24 against the average 125 in the previous years. Ravi Mital, the chairman of Insolvency and Bankruptcy Board of India, said that the number of resolution per year would …

NCLT Asks IBBI To Incorporate Provisions In CIRP Regulations For Treating Transferred Winding-Up Cases
9 months ago

NCLT Asks IBBI To Incorporate Provisions In CIRP Regulations For Treating Transferred Winding-Up Cases

Live Law  

The National Company Law Tribunal Principle Bench of Ramalingam Sudhakar and Avinash K. Srivastava has asked the Insolvency and Bankruptcy Board of India to amend the Corporate Insolvency Resolution Process regulations. This directive was issued by NCLT to address the handling of cases involving the winding up of companies that have been transferred to the NCLT under Section 433 of …

IBBI proposes amendments to insolvency rules; seeks public comments
9 months, 1 week ago

IBBI proposes amendments to insolvency rules; seeks public comments

The Hindu  

The Insolvency and Bankruptcy Board of India has proposed amendments to the Insolvency Resolution Process for Corporate Process regulations, to enhance efficiency and reduce costs, and sought stakeholder inputs by July 10. These amendments are expected to enhance the efficiency and transparency of the Corporate Insolvency Resolution Process, and benefiting creditors and other stakeholders involved in the CIRP. Seeking comments …

Weekly Digest Of IBC Cases: 03rd June 2024 To 09th June 2024
9 months, 2 weeks ago

Weekly Digest Of IBC Cases: 03rd June 2024 To 09th June 2024

Live Law  

HIGH COURTS Official Liquidator Must Adhere To Ethical Principles And Fairness To Discharge Their Duties Under IBC: Delhi High Court Case Title: Sundaresh Bhat vs Insolvency And Bankruptcy Board of India Case No. 105, 106, 990 of 2024 The National Company Law Appellate Tribunal Delhi, comprising Mr. Justice Rakesh Kumar Jain, Mr. Naresh Salecha, and Mr. Indevar Pandey held that …

IBC Revolutionizes Corporate Insolvency
11 months, 3 weeks ago

IBC Revolutionizes Corporate Insolvency

Deccan Chronicle  

Exactly, 10 years ago, in the run-up to the 2014 Lok Sabha elections, Narendra Modi, who was the BJP’s prime ministerial candidate, had said that traders have more risk-taking capacity than soldiers. Several hundreds of companies and lakhs of employees have benefitted from a relatively easy resolution process devised by IBC.After seven years of IBC’s journey, corporate litigation and disputes …

IBBI Directs Liquidator To Make Certain Declaration When Financial Service Provider Undergoes Voluntary Liquidation
1 year, 1 month ago

IBBI Directs Liquidator To Make Certain Declaration When Financial Service Provider Undergoes Voluntary Liquidation

Live Law  

The Insolvency and Bankruptcy Board of India has issued a circular dated 13.02.2024, intimating that when a Financial Service Provider undergoes voluntary liquidation under IBC, then the Liquidator shall declare that: the category of Financial Service Providers has been notified by the Central Government under Section 227 of IBC, and the corporate person has obtained prior permission from the appropriate …

IBBI Amends Regulations Regarding Insolvency Professionals w.e.f. 31st January 2024
1 year, 1 month ago

IBBI Amends Regulations Regarding Insolvency Professionals w.e.f. 31st January 2024

Live Law  

The Insolvency and Bankruptcy Board of India has amended the Insolvency and Bankruptcy Board of India Regulations, 2016, with effect from 31.01.2024. Explanation.- The insolvency professional shall continue to discharge his duties, functions and responsibilities till the approval of resignation by the Adjudicating Authority.” The Clause 23B of First Schedule of IP Regulations states that an Insolvency Professional shall not …

Supreme Court upholds Modi govt's Insolvency and Bankruptcy Code
1 year, 4 months ago

Supreme Court upholds Modi govt's Insolvency and Bankruptcy Code

Op India  

On Thursday, 9th November, the Supreme Court upheld the constitutional validity of the provisions of the Insolvency and Bankruptcy Code, 2016, relating to Personal Guarantors’s Insolvency Resolution. The Supreme Court bench ruled that it could not read an adjudicatory role into these rules and that changing the adjudicatory role would render the entire chronological procedure null and void. Back in …

IBBI proposes amendments to norms to streamline corporate resolution process
1 year, 4 months ago

IBBI proposes amendments to norms to streamline corporate resolution process

Live Mint  

To streamline the corporate resolution process and prevent delay in implementation of the resolution plan, the Insolvency and Bankruptcy Board of India on Wednesday proposed amendments to some regulations. The insolvency and bankruptcy board has proposed to structure the corporate resolution plan into two parts -- inflow of funds and distribution to various stakeholders -- under the Insolvency and Bankruptcy …

Disclose pending litigation when filing for bankruptcy, IBBI proposes
1 year, 5 months ago

Disclose pending litigation when filing for bankruptcy, IBBI proposes

Live Mint  

New Delhi: Businesses seeking to wind up voluntarily under the bankruptcy code should have to reveal all pending litigation and regulatory assessments, and ensure that their financial obligations from these proceedings are provided for, bankruptcy regulator IBBI has proposed. The proposal is part of a new set of regulations – the IBBI Regulations, 2023 – for which the regulator has …

IBBI Amends Insolvency Professional Regulations W.E.F. 18th September 2023
1 year, 6 months ago

IBBI Amends Insolvency Professional Regulations W.E.F. 18th September 2023

Live Law  

The Insolvency and Bankruptcy Board of India vide its notification dated 18.09.2023, has notified amendments to the Insolvency and Bankruptcy Board of India Regulations, 2016. The amended provisions are: “6 An individual enrolled with an insolvency professional agency as a professional member may make an application to the Board through the insolvency professional agency of which he is a member, …

Why Centre should prioritise IBC's alignment with other laws
1 year, 6 months ago

Why Centre should prioritise IBC's alignment with other laws

Firstpost  

The Indian Bankruptcy Code provides a comprehensive legal framework but does not eliminate the need for approvals from regulators and government bodies like CCI, RBI, SEBI, and others when resolution plans include their jurisdiction India currently ranks as the fifth largest economy and is projected to become the third largest economy by 2030. The IBC in India has witnessed numerous …

IBBI seeks changes to empower investors
1 year, 9 months ago

IBBI seeks changes to empower investors

Live Mint  

NEW DELHI : The Insolvency and Bankruptcy Board of India has proposed a series of changes to its regulations, including an important new voting method on bids from investors for bankrupt companies which would allow creditors to rank their preferences rather than merely vote in favour or against bids. In a discussion paper published on Wednesday, IBBI also proposed that …

“The Mediation Advantage – The Finality of Consensual Settlement” Justice Hima Kohli At The 1st IAMC India Mediation Day
1 year, 11 months ago

“The Mediation Advantage – The Finality of Consensual Settlement” Justice Hima Kohli At The 1st IAMC India Mediation Day

Live Law  

On April 16, 2023, The International Arbitration & Mediation Centre, Hyderabad hosted the 1st Indian Mediation Day, which was graced by the presence Justice NV Ramana, Former Chief Justice, Supreme Court of India, Justice Hima Kohli, Judge, Supreme Court of India, Justice L. Nageswara Rao, Former Judge, Supreme Court of India, Justice RV Raveendran, Former Judge, Supreme Court. On April …

“Misconceived, Not Maintainable”: NCLAT Delhi Dismisses Appeal Filed By IBBI
2 years, 1 month ago

“Misconceived, Not Maintainable”: NCLAT Delhi Dismisses Appeal Filed By IBBI

Live Law  

The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Rakesh Kumar Jain and Mr. Naresh Salecha, while adjudicating an appeal filed in Insolvency & Bankruptcy Board of India v GTL Infrastructure Ltd. & Ors., has dismissed an appeal filed by the Insolvency and Bankruptcy Board of India, challenging the dismissal of a Section 7 petition in a matter …

Why India's bankruptcy regime needs to be fixed
2 years, 3 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 …

IBBI to offer scholarships for research projects
2 years, 3 months ago

IBBI to offer scholarships for research projects

Live Mint  

NEW DELHI: Insolvency and Bankruptcy Board of India has offered short term research scholarships on key aspects of the performance of the bankruptcy code to source ideas and insights from private sector experts and academics. The bankruptcy rule maker has suggested 87 research topics spanning various aspects of insolvency, including economic growth, value maximisation, ease of doing business, and early …

COC To Function As Stakeholder's Consultation Committee For First 60 Days: IBBI Amends Liquidation Process Regulations
2 years, 6 months ago

COC To Function As Stakeholder's Consultation Committee For First 60 Days: IBBI Amends Liquidation Process Regulations

Live Law  

The Insolvency and Bankruptcy Board of India on 16.09.2022 has notified amendments to the IBBI Regulations, 2016 and IBBI Regulations, 2016 for a second time. Detailed Overview In exercise of the powers conferred by Section 196 read with Section 240 of the Insolvency and Bankruptcy Code, 2016, the IBBI has introduced the following amendments to the Voluntary Liquidation Regulations and …

RP And COC Can Request Resolution Plan For A Second Time; IBBI Notification
2 years, 6 months ago

RP And COC Can Request Resolution Plan For A Second Time; IBBI Notification

Live Law  

The Insolvency and Bankruptcy Board of India has amended the IBBI Regulations, 2016 for a fourth time and has notified the amendment on 16.09.2022. Changes Brought By The Amendment With the objective to maximise value in resolution, the amendment enables the resolution professional and the Committee of creditors to issue request for resolution plan a second time for sale of …

IBBI Notifies Second Amendment To Insolvency Professional Regulations
2 years, 6 months ago

IBBI Notifies Second Amendment To Insolvency Professional Regulations

Live Law  

The Insolvency and Bankruptcy Board of India has amended the IBBI Regulations, 2016 for a second time and has notified the amendment on 13.09.2022. The amendment has added Clause 26A to the IP Regulations which states that an Insolvency Professional shall not accept /share any fees or charges from any professional and/or support service provider who are appointed under the …

Fee Payable To Insolvency Professional ; IBBI Notifies Third Amendment To CIRP Regulations
2 years, 6 months ago

Fee Payable To Insolvency Professional ; IBBI Notifies Third Amendment To CIRP Regulations

Live Law  

The Insolvency and Bankruptcy Board of India has amended the IBBI Regulations, 2016 for a third time and has notified the amendment on 13.09.2022. The amendment has introduced Clause 34B and Schedule II to the CIRP Regulations which have brought about the following changes: The fee of the interim resolution professional or the resolution professional, appointed on or after 1st …

Mediation Bill: House panel recommends against compulsory mediation, role for judiciary
2 years, 8 months ago

Mediation Bill: House panel recommends against compulsory mediation, role for judiciary

The Hindu  

Parliamentary Standing Committee on Law and Justice, headed by veteran BJP leader Sushil Kumar Modi, has recommended substantial changes to the Mediation Bill, meant for institutionalisation of mediation and establishment of the Mediation Council of India. Sources in the panel confirmed after a meeting here on Monday that the members deliberated upon 20 key issues in the Bill, including the …

Let’s promote mediation as a way to resolve IBC delays
2 years, 9 months ago

Let’s promote mediation as a way to resolve IBC delays

Live Mint  

India’s Insolvency and Bankruptcy Code, 2016, was designed to focus on addressing stress in chronically sick companies through either resolution or liquidation, as warranted back then by mounting non-performing assets in our banking sector that the prevalent system could not adequately fix. Globally, a mechanism like the IBC’s corporate insolvency resolution process has been a last-resort measure; i.e., once all …

Need framework to study impact of insolvency law: Corporate Affairs Secretary
2 years, 10 months ago

Need framework to study impact of insolvency law: Corporate Affairs Secretary

The Hindu  

Amid concerns in certain quarters that the insolvency law has led to more liquidations than resolutions of stressed assets, Corporate Affairs Secretary Rajesh Verma on Saturday, April 30, 2022, pitched for having a framework to study the impact of the legislation. There is presently no framework to track the outcome of insolvency and bankruptcy regime.it is crucial to continue to …

IBBI Notifies The Amended Insolvency And Bankruptcy Board Of India (Voluntary Liquidation Process) Regulations, 2017
2 years, 11 months ago

IBBI Notifies The Amended Insolvency And Bankruptcy Board Of India (Voluntary Liquidation Process) Regulations, 2017

Live Law  

The Insolvency and Bankruptcy Board of India has issued a Press Release on 08.04.2022 notifying the public that amendments have been made to Insolvency and Bankruptcy Board of India Regulations, 2017. Therefore, in order to curtail such delays and ensure faster exit for firms, amendments have been made to modify the timelines for activities undertaken during the voluntary liquidation process. …

Call For Papers: 3rd International Conference On Mediation [9th - 10th April 202]
3 years ago

Call For Papers: 3rd International Conference On Mediation [9th - 10th April 202]

Live Law  

Faculty Of Law, University Of Delhi & Delhi School Of Public Policy And Governance, Institution Of Eminence, University Of Delhi In Collaboration With Is Organising 3rd International Conference On Mediation From 09th - 10th April 2022 In Virtual Mode. The Draft Bill aims to facilitate and promote mediation in India, particularly institutional mediation for the resolution of disputes, encourage community …

Mediation Bill: Not getting the Act together
3 years, 3 months ago

Mediation Bill: Not getting the Act together

The Hindu  

Over the last 15 years, the dispute resolution landscape in India has undergone significant change with the advent of mediation. A group of senior mediators was set up by the Supreme Court Committee in charge of court-annexed mediation process, and over a period of several months, a draft Bill emerged which then started to make its way through the labyrinthine …

IBC- Every Attempt Has To Be First Made To Revive The Concern And Make It A Going Concern, Liquidation Being The Last Resort: Supreme Court
3 years, 6 months ago

IBC- Every Attempt Has To Be First Made To Revive The Concern And Make It A Going Concern, Liquidation Being The Last Resort: Supreme Court

Live Law  

Every attempt has to be first made to revive the concern and make it a going concern, liquidation being the last resort, the Supreme Court observed while upholding NCLT order permitting withdrawal of Corporate Insolvency Resolution Process.The bench of Justices L Nageswara Rao, BR Gavai and BV Nagarathna observed that an adjudicating authority under Insolvency and Bankruptcy Code can. Every …

IBC - The Journey So Far – Part III
3 years, 6 months ago

IBC - The Journey So Far – Part III

Live Law  

EMERGING LEGAL ISSUES CLOGGING RESOLUTION : There are few major emerging issues which could impact resolutions under IBC, one of which is shrinking market for resolution. With a view to settle the issue, Section 30 of the Code was also amended, by inserting a requirement for CoC to, inter alia, take into account the order of priority amongst creditors u/s …

‘Shifting From Individual Gain To Collective Good Can Benefit IBC’: CEA Subramaniam
3 years, 6 months ago

‘Shifting From Individual Gain To Collective Good Can Benefit IBC’: CEA Subramaniam

News 18  

Speaking at an online seminar orchestrated by the Confederation of Indian Industry, Krishnamurthy Subramaniam, the Chief Economic Advisor, applauded the efforts put in fighting feudalism out of the country’s economic fabric, with the implementation of the Insolvency and Bankruptcy Code in 2016. Citing the concept of Dharma, derived from the ancient literature of Bhagavad Gita, Subramaniam stressed on shifting from …

Why State-Funded Mediation Is A Reliable Means To An End
3 years, 7 months ago

Why State-Funded Mediation Is A Reliable Means To An End

Live Law  

Recently, the Chief Justice of India, Justice N V Ramana highlighted the need for mediation to be made a mandatory first step in domestic dispute resolution mechanisms. Typically, court-mandated mediation falls within the greater judicial oversight, as distinguished from lateral mediation centres like the Delhi Dispute Resolution Society. This is corroborated by data published by the DDRS that indicates the …

‘Of all biz referred under IBC, negligible few get liquidated‘
3 years, 7 months ago

‘Of all biz referred under IBC, negligible few get liquidated‘

Live Mint  

The Insolvency and Bankruptcy Code, brought in to improve the credit culture in the country and counter industrial sickness, has been closely watched by policymakers and experts for its effectiveness. Two recent ones, suspension of filing of applications for initiation of insolvency proceedings and the introduction of pre-packaged insolvency resolution process for micro, small and medium enterprises are products of …

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