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
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
2023-06-28 19:04:14 The bankruptcy code has rescued 72% of the distressed assets since it came into being in 2016, though half of them ended in orders of liquidation, said the Financial Stability Report by the Reserve Bank of India. By March 2023, a total of 6,571 corporate insolvency resolution process (CIRPs) had commenced, of which … Read more
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