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BANKRUPTCY NORMS
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...- Once an institution of warmth and wit, parties are now an embodiment of symbol over experienceA recent party at Gwalior's Jai Vilas Palace offered a glimpse of genuine connection, a stark contrast to years of superficial gatherings. ...
- UltraTech settles JAL dispute, agrees to redeem Rs 1k-cr sharesUltraTech Cement has finally settled a lengthy arbitration dispute with Jaiprakash Associates, paving the way for a fresh financial landsca...
- Union Cabinet approves key changes to IBC and Companies Act 2013The Union Cabinet has approved amendments to the Insolvency and Bankruptcy Code (IBC) and the Companies Act, 2013, according to sources. Th...
- IBBI amends norms related to insolvency resolution process for personal guarantorsIBBI has made amendments to the insolvency resolution process for personal guarantors and voluntary liquidation process. The changes remove...
- New IBC rules to cover financial service providersThe corporate affairs ministry has notified the Insolvency and Bankruptcy Rules, 2019. It will provide a generic framework for insolvency a...
- Delay becomes the norm in insolvency & bankruptcy casesAs much as 34% of the 1,292 cases in the bankruptcy courts up to June 2019 are delayed beyond 270 days.
- Individual bankruptcy norms in the works: IBBI Chief“The work is progressing, but I cannot comment on any timeline,” said Sahoo.
- PSU bankers' union challenges RBI's February 12 bankruptcy circularA writ petition has been filed claiming that things have gone too far as the bankruptcy process, involving the NCLT and IBC, is causing hea...
- Orchid Pharma faces liquidation as lenders reject resolution planOrchid Pharma was referred to the bankruptcy court by Lakshmi Vilas Bank after it failed to pay about Rs 3,500 crore to lenders.
- RBI may loosen NPA norms to let banks breathe easyFinMin has made a case for relief, especially to SMEs, as stringent norms could force defaulters into rapid bankruptcy, which could dent jo...
- Banks to negotiate only with top bidder in insolvency casesLenders will now follow the guidelines prescribed by the Central Vigilance Commission for such deals since IBC has no rules in place for th...
- Sebi norms for insolvency resolution professionals soon: Tyagiimplemented better.The market watchdog is jointly working with the Insolvency & Bankruptcy Board to address the issue and the new guideline...
- We are looking at least a year or six quarters of pain: Ashvin ParekhWe are in that kind of a situation that Merrill Lynch faced during sub-prime crisis
- A large number of public sector banks are pretty sick: AK Purwar, Former Chairman, SBIThe high provisioning norm is going to take a 50,000 crore toll on earnings which is roughly about $8 billion: AK Purwar, Former Chairman, ...
- Government proposes to fast-track insolvency resolution for startupsLooking to provide a faster exit mechanism for certain class of entities, the Insolvency and Bankruptcy Board of India (IBBI) has come out ...
- Bankruptcy norms for individuals in the worksInsolvency & Bankruptcy Board is working on guidelines to allow voluntary liquidation by companies.
- Bankruptcy & Insolvency law may be operational by year end: Shaktikanta DasThe board will have 10 members. Apart from the chairman, currently there are four government-nominated members and the rest are expected to...
- Government issues more draft norms under bankruptcy codeLast week, the ministry issued draft regulations pertaining to registration of insolvency professionals, agencies and model bye-laws.
- Ease bankruptcy norms, open up asset reconstruction: RajanAmidst turmoil in the global financial market, the Raghuram Rajan committee on financial sector reforms has recommended relaxing bankruptcy...
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