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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
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


Anand Adhikari
June 16, 2021
Dangi had taken long futures bet in shares of real estate Ackruti City, where stock jumped from Rs 250 to Rs 2,300 in 52 trading days during 2009. Sudden rise in share price trapped some of high-profile foreign institutional investors. Sebi later banned futures trading in Ackruti shares


PTI
June 16, 2021
NCLT said: \"Therefore, the successful resolution applicant is paying almost nothing and 99.28 per cent hair cut is provided for operational creditors (Hair cut or Tonsure, Total Shave).\"


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


BusinessToday.In
June 11, 2021
EOW says Parthasarathy was heading IL&FS group that comprised more than 350 group firms, and they were channelised to as a \"vehicle to perpetrate fraud\"


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 10, 2021
State-owned NBCC and Suraksha group are in the fray to acquire the debt-laden realty firm Jaypee Infratech Ltd (JIL) and complete over 20,000 pending flats for homebuyers


BusinessToday.In
June 8, 2021
As per the resolution plan, Vedanta Group's Twin Star Technologies will pay Rs 2,962 crore against  Videocon's debt of Rs 31,000 crore. NCLT had allowed insolvency proceedings against Videocon group comprising 13 companies in 2019


BusinessToday.In
June 8, 2021
The share has delivered 100 per cent returns in the last 12 months and risen 52 per cent since the beginning of this year


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.


BusinessToday.In
June 7, 2021
In January, Piramal Capital and Housing Finance Ltd, a subsidiary of Piramal Enterprises Limited, had won a bid for acquiring DHFL. Piramal made Rs 34,250-crore bid to acquire the housing finance company


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.


PTI
May 29, 2021
The deadline for submission of the final bids is June 4 and resolution plans should be compliant with insolvency law and a Supreme Court judgement on March 24


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.


BusinessToday.In
May 24, 2021
Stocks in news: Adani Green, Amara Raja, Minda Industries, Power Grid, Hero MotoCorp, JSW Steel and more


BusinessToday.In
May 19, 2021
In an oral order, the tribunal asked the administrator of DHFL, appointed by the Reserve Bank of India, to place the resolution plan before the Committee of Creditors.


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