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insolvency & bankruptcy code: more misses than hits




above: illustration by amitava seninsolvency and bankruptcy code was meant to resolve the issue of bad debts but has tarred all promoters of a defaulting company with the same brush and disbarred them from the resolution process instead of keeping out only the criminally culpable  ~by mukesh kacker...



bankruptcy norms: knee-jerk reactions to structural deformities




a couple of recent amendments in the insolvency and bankruptcy board of india (insolvency resolution process for corporate persons) regulations, 2016, seem to be knee-jerk reactions towards the various issues surfaced in the implementation of the insolvency and bankruptcy code (ibc).   on august 16...



insolvency and bankruptcy code: lenders, bidders split on assets valuation




lenders and prospective bidders are having a serious difference of opinion on the valuation of toxic assets, to be auctioned under the modified insolvency law. while the lenders are insisting that resolution professionals get the enterprise valuation of these companies done to ensure sale negotiatio...



insolvency and bankruptcy code: how stakeholders are learning on the job




trai's dilemmabusiness standardabsence of cross-border insolvency laws could lessen the code's effectivenesssudipto dey  last updated at september 3, 2017 23:03 isthttp://mybs.in/2uyihxp



insolvency rules for corporate guarantors, individual firms by december




the rules for individual insolvency under the insolvency and bankruptcy code are likely to be notified by december. "it will come in a phased manner. at this point, we are trying to cover corporate guarantors. that is our main issue. in the first phase, we are dealing with corporate guarantors and i...



govt open to making amendments to insolvency & bankruptcy code




the government is open to amending the insolvency and bankruptcy code (ibc) to resolve practical difficulties and redress grievances, union minister p p chaudhary has said, amid owners of many undelivered flats looking to seek relief under this law. assuring that the challenges thrown up by some cas...



bankers wary of insolvency code as high provisioning looms




earlier, the general perception among bankers and even policy makers at rbi was that the absence of a strong bankruptcy code was behind the many ills in the banking systemabhijit leledev chatterjee & anup roy  |  mumbai  last updated at october 13, 2017 01:35 isthttp://mybs.in/2uzzcs2 representat...



insolvency law: ibbi notifies norms for complaint handling




the regulations for grievance handling procedure under the insolvency and bankruptcy code have been notified, wherein the filing fee will be refunded to the stakeholder in case the complaint is found to be not "frivolous or malicious".the insolvency and bankruptcy board of india (ibbi), which is imp...



news digest: s&p holds india rating, insolvency ordinance, and more




national drug pricing regulator nppa on friday said it has capped prices of 51 essential formulations, including those used for the treatment of cancer, pain, heart conditions and skin problems. the prices have been slashed in the range of 6 to 53 per cent. read moreinsolvency code ordinance: promot...



insolvency and bankruptcy code: 14-member panel formed address issues




with rising number of cases under the insolvency and bankruptcy code, the government has set up a 14-member panel to identify and suggest ways to address issues faced in implementation of the law.the insolvency law committee, chaired by corporate affairs secretary injeti srinivas, would take stock o...



insolvency: as builders like jaypee go under, govt looks to ease homebuyers' pai




the central government is mulling ways to ensure homebuyers receive their dues as insolvency proceedings are initiated against more real estate companies on the lines of those against jaypee infratech.  this is being done keeping in mind that the salaried middle class, who invest their life’s sav...



insolvency ordinance impact: over 70% of smes face liquidation




around 70% of small and medium enterprises (smes) undergoing insolvency proceedings face liquidation as their promoters are the only ones presenting resolution plans. the recent ordinance amending the insolvency and bankruptcy code (ibc) virtually debars promoters from bidding for their stressed ass...



nclts get 4,300 insolvency petitions since inception in may 2016




since the national company law tribunal (nclt) was set up 18 months ago, over 4,300 cases have been filed at its various benches for resolution process, according to the reserve bank data.the insolvency and bankruptcy code came into existence with the enactment of the insolvency and bankruptcy code ...



bankruptcy code: ibbi can initiate probe against insolvency professionals




press trust of india  |  new delhi  july 16, 2017 last updated at 14:07 ist



ibbi issues guidelines for tech standards for info utilities




the insolvency and bankruptcy board of india (ibbi) has issued guidelines for technical standards to be followed by information utilities, including for consent framework in sharing details with third parties.information utilities store financial information to help establish defaults and verify cla...



firms, lenders ask rbi to extend insolvency deadline




with time running out for a resolution of the second list of non-performing assets (npas) on the reserve bank of india (rbi) list, lenders and corporate bodies have approached the central bank for extending the december 13 deadline. if debt resolution is not finalised by december 13 for the 28 compa...



demonetisation: an assessment after nine months




insolvency and bankruptcy code: how stakeholders are learning on the jobbusiness standarddemonetisation achievement is that it has brought social revolution against black money & corruptionsukumar mukhopadhyay  last updated at september 3, 2017 23:23 isthttp://mybs.in/2uyihxi



stressed asset buyers may get relief from competition law, mat




buyers of stressed assets might soon get an exemption from paying the minimum alternate tax (mat), and the need for getting approval from fair-trade watchdog the competition commission of india (cci). a government-appointed committee is planning to recommend amendments to the insolvency and bankrupt...



enactment of the insolvency & bankruptcy code: that sinking feeling




want create site? find free wordpress themes and plugins.as more and more bad debts pile up, the code aims to resolve issues in a time-bound manner and amend related laws  ~by mukesh kackerwhile demonetisation and gst hogged attention and media coverage, another financial sector event of importance...



access to info utilities under bankruptcy law: ibbi proposes, rbi disposes




even as the insolvency and bankruptcy board of india (ibbi) has issued standards for public information registries or information utilities to make the bankruptcy process work smoother, the reserve bank of india (rbi) has thrown a spanner in the works.  unless resolved soon, the dispute could prolo...



news digest: ibc tweak, shell firms, gujarat elections, and more




insolvency and bankruptcy code: lenders, bidders split on assets valuation lenders and prospective bidders are having a serious difference of opinion on the valuation of toxic assets, to be auctioned under the modified insolvency law. while the lenders are insisting that resolution professionals get...



courts have 'two standards' on statutory timelines: jaitley




stating that indian courts have "two standards", finance minister arun jaitley today said timelines prescribed in the laws enacted by parliament are held as mandatory for the executive, but not the judiciary itself."conventionally, our courts always have two standards," jaitley said, speaking at an ...



doing business in india: why foreign businesses should care about ibc




the insolvency and bankruptcy code (ibc), together with its implementing regulations, introduced in december 2016 is a uniform, comprehensive code dealing with financial failure, debt restructurings and insolvencies. it represents a game-changing shift towards a creditor-friendly and timeline-driven...



insolvency rules for individuals & firms by dec 17'




the rules of the new insolvency regulations to bring individual businesses under its purview are likely to be in place soon, an official of the insolvency and bankruptcy board of india (ibbi) said ."the rules and regulations for the first phase for insolvency regulations for individuals and firms is...



bankruptcy code 'an example of hurried legislation', has gaps: congress




the congress on thursday said the insolvency and banking code (ibc) of 2016 is "an example of a hurried legislation and has many gaps". the congress reaction came after president ram nath kovind signed an ordinance on thursday for amendment to the code, which was sent to him by the union cabinet a d...