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Total 1641 results found. Search for [ bankruptcy code ]

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Anand Adhikari
New Delhi, June 17, 2021
The five-year-old game-changing insolvency and bankruptcy code (IBC), which deals with corporate insolvency, resolution, and restructuring, is often criticized for bad implementation, several amendments, and also a very low loan recovery for financial creditors like banks. But is it fair to criticize a new law only on a single parameter, which is the low recovery rate? Most of the cases that came in the first five years were the defaulters with unsustainable debt, written off cases and loans where earlier recovery efforts had failed. Some experts have even termed the new code as a place for liquidation than resolution. The strict timelines of 180 days with a maximum of 270 days under the IBC actually got breached by a big margin. The higher cases also happened because of operational creditors using the code for getting their outstanding and disputed claims. Like any other law, the IBC also needs more reforms. The next five years of IBC will be crucial as the next batch of fresh NPAs post-Covid will again test the effectiveness of the code. Also Read: RBI left with limited choices as retail inflation rises: SBI report


PTI
June 16, 2021
Talking about fresh insolvency filings after the expiry of the suspension, IBBI Chairperson MS Sahoo says higher threshold of default of Rs 1 crore coupled with support and forbearances limit flow of applications


PTI
June 16, 2021
The bankruptcy tribunal has asked the Insolvency and Bankruptcy Board of India (IBBI) \"to examine this issue in depth\" to ensure that the confidentiality clause is followed without any compromise


PTI
June 15, 2021
On the 14th page of the 86-page NCLT order by HP Chaturvedi and Ravikumar Duraisamy, it says DHFL no longer is a deposit taking NBFC but a non-deposit taking one


PTI
June 14, 2021
A day before the start of the voting process, the two contenders NBCC and Suraksha held separate webinars on Sunday with hundreds of homebuyers to explain their resolution plans and address doubts of flat owners


Anand Adhikari
June 11, 2021
The new insolvency and bankruptcy code (IBC) has been often criticised for low recovery rate. But it is a new law and as the law stabilises, there will be more favorable results


PTI
June 9, 2021
The lender, in a notification, said it intends to sell these NPA accounts to asset reconstruction companies (ARCs) / banks/NBFCs or other financial institutions (FIs) on 100% cash basis


BusinessToday.In
June 7, 2021
NCLT said the approval for Piramal Group's offer is subject to final judgement from NCLAT and Supreme Court's judgement on Kapil Wadhawan in the matter.


PTI
June 7, 2021
TSML has been declared as successful resolution applicant by the Committee of Creditors for acquisition of Rohit Ferro-Tech Limited on June 5, 2021, subject to it obtaining necessary regulatory approvals, Tata Steel said


BusinessToday.In
June 6, 2021
The company, which is under corporate insolvency process, posted a profit of Rs 96.75 crore in January-March quarter.


Raj Chengappa|Rajeev Dubey
June 6, 2021
In an exclusive interview with India Today Group Editorial Director Raj Chengappa and Business Today Editor Rajeev Dubey, Union Finance Minister Nirmala Sitharaman said the scale and intensity of the second wave are sharply different from the first one


PTI
May 30, 2021
The next bi-monthly monetary policy review is scheduled to be announced on June 4, following the meeting of the Monetary Policy Committee (MPC) beginning Wednesday


Sumant Banerji
New Delhi, May 26, 2021
After a prolonged downturn, India's steel industry is set for good times. But it may have to expand quickly to meet the expected spike in demand


BusinessToday.In
May 25, 2021
A vacation bench of NCLAT, comprising of Acting Chairman Justice A I S Cheema and Member Technical V P Singh, stayed the order passed by NCLT.


BusinessToday.In
May 24, 2021
Last week, NCLT had asked the administrator of DHFL, appointed by the Reserve Bank of India (RBI), to place Wadhawan's resolution plan before the CoC.


Anand Adhikari
May 21, 2021
SBI's total combined write-offs in the last four years have touched Rs 52,758 crore. The figure for write-off is over Rs 1 lakh crore in the past seven years


BusinessToday.In
May 21, 2021
The apex court's order will clear the decks for the lenders to recover their remaining debt from personal gurarantors following the conclusion of the Corporate Insolvency Resolution Process (CIRP)


Anand Adhikari
New Delhi, May 19, 2021
In the last two years, the Government and the Reserve Bank of India (RBI)  have supported the Micro, Small, and Medium Enterprises (MSMEs) by way of loan restructuring, collateral-free working capital loans,  subordinated debt,  equity infusion through the funds of funds, and special treatment under the bankruptcy code. But the MSMEs demand is increasing day by day. They are now asking for relaxation in NPA classification, interest-free loans, deferment of statutory taxes, and also rationalisation in import duties. But it is time now to think beyond loan restructuring and regulatory forbearances. In a post-Covid world, the global supply chains are witnessing a structural shift, which offers a big opportunity for Indian and global companies. The cash flow-based lending by new-age NBFCs and Fintechs should be encouraged to benefit a large number of MSMEs. The government and the RBI should also support the online trade receivables discounting platforms to improve the MSMEs' working capital cycle. Last but not least, MSMEs will also have to take a lead in the adoption of technology, digitalization of factories, and improving corporate governance. Anand Adhikari, Executive Editor, Business Today breaks it down for us. WATCH : Valuation is key in IDBI Bank sale; Here's why


PTI
May 11, 2021
The regulator has also put in place a framework in relation to applicability, constitution and role of the Risk Management Committee (RMC) and eased norms for re-classification of a promoter as a public shareholder


PTI
May 6, 2021
If all lenders come on board, the National Asset Reconstruction Company (NARC) announced in the budget will be able to aggregate 100 per cent of a sick company's outstanding loans


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