ibc: Cracking the Code: Q2 recovery under IBC rises to 33%

2023-11-01 18:33:54 Creditors’ recovery from loans to bankrupt companies under the Insolvency and Bankruptcy Code (IBC) rose to 33% of their admitted claims in the September quarter from 29.5% in the previous three months, according to the latest data compiled by the insolvency regulator. Improved investor interest in a broad range of small and medium … Read more

SBI MD Tewari recommends measuring time for each IBC process bucket

2023-09-17 14:47:17 State Bank of India (SBI) has proposed measuring the timelines of various segments within the Insolvency and Bankruptcy Code (IBC) process to pinpoint and address significant delays. At an industry event focused on IBC, Ashwini Kumar Tewari, Managing Director, SBI, emphasised that while the legislation sets a 330-day overall outer time limit, tracking … Read more

Centre amends IBC provision to remove moratorium protection for certain oil companies

2023-06-16 15:30:54 In a significant move, the Centre has empowered itself to recover assets, properties, royalties and cancel leases of certain companies engaged in the oil sector even when they are undergoing the Insolvency and Bankruptcy Code (IBC) process. The moratorium protection hitherto available under IBC — Section 14(1) — will not be applicable for certain … Read more