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BANKRUPTCY BOARD OF INDIA
Parliamentary panel backs govt steps to strengthen IBC recovery, seeks deeper action on fund diversionA parliamentary panel has backed govt efforts to improve insolvency recovery, seeking urgent action to prevent fund diversion during insolv...- Byju’s RP moves NCLT against Google in fresh data-access disputeResolution professional Shailendra Ajmera, who’s backed by EY, has filed an application under Section 60 (5) of the Insolvency and Bankrupt...
- RBI bars banks, NBFCs from selling acquired stressed assets back to defaulting borrowers, related partiesNew Reserve Bank of India norms will prevent lenders from reselling acquired assets to defaulting borrowers. These prudential rules apply t...
- SHH promoters deposit ₹200 crore to settle ₹648 crore duesSupreme Housing promoters deposited ₹200 crore for a ₹518 crore debt settlement. Canara Bank expects about ₹475 crore from this one-time se...
- HDFC Bank gets RBI nod to appoint Rajiv Kumar as part-time chairmanHDFC Bank received RBI approval for Rajiv Kumar's appointment as part-time chairman. His three-year term as chairman will begin on July 15,...
- Udaan avoids bankruptcy, reaches agreement with offshore creditors to settle $178 million claimBlackrock, world’s largest asset manager has agreed to provide $45 million of fresh credit facility. The restructuring will also include up...
- Deadline for filing forms relating to personal guarantors to insolvent firms extended up to Sept 30Insolvency professionals have received a three-month extension to file forms electronically. This extension applies to monitoring resolutio...
- Global creditors drag Udaan's parent to bankruptcy court in Singapore after $170-million bond defaultInsolvency petition filed this week, A&M appointed as liquidator of B2B commerce company. Ten year old co has seen valuations crash 70% as ...
- IBBI seeks tighter regulations around personal guarantors, valuation of insolvent firmsPersonal guarantors of struggling companies may lose their interim moratorium protection, as the insolvency regulator proposes changes to p...
- IBBI seeks to streamline real estate insolvency regulations with focus on homebuyersIndia's bankruptcy watchdog is proposing significant reforms to expedite real estate insolvency. Key changes include excluding completed or...
- New valuation rules seek fairer outcomes in bankruptcy casesNew Delhi: The bankruptcy regulator has issued a circular for standardized valuation of companies under the Insolvency and Bankruptcy Code....
- NCLT admits SBI plea for personal insolvency proceedings against Anil AmbaniMumbai NCLT has admitted SBI's plea to start personal insolvency proceedings against Anil Ambani. This follows a Rs 1,200 crore claim by th...
- Govt relaxes insolvency rules for MSMEsNew rules aim to simplify insolvency for MSMEs. Only one valuer will be appointed per asset class, cutting costs. Strict new regulations pr...
- IBBI issues new guidelines to speed up appointment of insolvency professionalsThe Insolvency and Bankruptcy Board of India has released new rules for insolvency professionals. These guidelines aim to speed up appointm...
- IBC seminal reform; instrumental in changing feudal mindset of promoters: CEA"One big change that the IBC has brought is that it has ended feudalism of the promoters in a capitalistic society. There is absolutely no ...
- 40 corporate insolvency resolutions completed: GovernmentThe Code, which provides for market--determined and time-- bound resolution process, is being implemented by the Insolvency and Bankruptcy ...
- Buyers of insolvent firms with stressed arms may get to bid for other companiesGovernment mulling change in IBC as norms do not allow promoters of a defaulting firm to bid for other insolvent assets.
- Insolvency Board to pull up firms acting as resolution professionals to banksUnder law, professional entities can’t enrol themselves as an insolvency professional or become a member of another agency registered with ...
- Government proposes strict norms for registered valuersA registered valuer is required to carry out valuation of assets, net worth of a firm or its liabilities as required under the Companies Ac...
- Insolvency and Bankruptcy Board notifies regulationsMoving ahead with implementation of the Code, two sets of regulations have been notified by the Insolvency and Bankruptcy Board of India (I...
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