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MSME INSOLVENCY RESOLUTION
IBC study calls for auction reform to boost MSME insolvency resolutionA new study suggests changes to how bankrupt micro, small, and medium enterprises are rescued. It proposes a single objective auction model...- Banks to push for change in IBC rules amid fears of promoters gaming the systemBanks are urging changes to insolvency regulations to prevent promoters from manipulating their companies' size to qualify as MSMEs and ret...
- NCLT orders liquidation of Overnite ExpressThe NCLT stated that the resolution plan was submitted under the assumption that the company is classified as a micro, small, and medium en...
- Aluminum Co. becomes first to get debt resolution from banks under pre-pack rulesSudal Industries, an aluminium products manufacturer, has become the first Indian company to get a debt resolution from banks under the ins...
- Revamping of MSME pre-pack top demand of stakeholders to IBBILate Thursday, the Insolvency and Bankruptcy Board of India (IBBI) sought stakeholder responses to strengthen the 2016 regulations that aim...
- In a first, NCLT admits first pre-pack resolution caseAs per the laws, MSMEs should not have a turnover of more than Rs 250 crore excluding exports, and the investment in plant and machinery sh...
- Change in IBC paves way for prepack solutions for the MSME sectorThe notification was issued after the IBC amendment bill approved by the Parliament received presidential assent.
- IBC bill in Lok Sabha; Pre-packaged insolvency solution on offerPre-packaged process allows creditors and shareholders to come together to identify a prospective buyer and negotiate a resolution plan bef...
- BoM aims to resolve 20-25 stressed MSME loans under pre-packaged resolution processEarlier this month, the government had introduced a pre-packaged insolvency resolution process for stressed MSMEs by amending the insolvenc...
- Insolvency board setting up two portals for sale of distressed assetsThe move will likely unlock big opportunities amid lockdown restrictions.
- Insolvency and Bankruptcy Board of India sets up online platforms amid Covid curbsThe move will likely unlock big opportunities amid lockdown restrictions. This will likely make life easy for both investors and lenders de...
- Can pre-packaged insolvency resolution under IBC be helpful for MSMEs?The Code emphasizes on reorganization and insolvency resolution of the Corporate Debtor, while maximizing the value of assets of the CD and...
- Centre promulgates IBC amendment ordinance to allow pre-packaged insolvency for MSMEsA pre-packaged resolution essentially translates to a company preparing a restructuring plan with its creditors before initiating insolvenc...
- Budget 2021-2022: Bad Bank for large corporates and a new framework for MSMEsA special framework for MSME has been on cards for some time. According to the Economic Survey there are 6 crore MSMEs employing 11 crore p...
- Cheaper, faster and easier insolvency resolution process on cards for MSMEs: IBBIThe board envisaged a shorter time limit than the current 180 days for an MSME insolvency resolution process, along with cost-effective and...
- New MSME framework may pose infrastructure problemsThe framework applies on MSMEs with up to Rs 250 crore yearly turnover and Rs 50 crore investment in plant and machinery.
- Another shot for MSMEs to reclaim bankrupt companiesPromoters can be considered for resolution of their own cos as they are exempt from section 29(A) of IBC.
- Relief for MSMEs under IBC, promoter can bid for his enterpriseThe President’s assent to the IBC Amendment Ordinance 2018 has brought in key changes for home buyers and MSMEs.
- Government promulgates IBC ordinance; home buyers to be treated as financial creditorsPresident Ram Nath Kovind has given his assent to promulgate the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018, according to a...
- IBC Bill passed by RS, rules may be changed for MSMEsJaitley said the changes were needed as those who ran a company down to the ground and to insolvency could not be allowed back in managemen...
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