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INSOLVENCY ORDINANCE
Amid disruptions over snooping row, govt to prioritise Ordinance replacing Bills this weekWith an unrelenting opposition refusing to allow conduct of business before the Centre addresses allegations of snooping, the government is...- Pre-packaged insolvency plan for MSMEs to save jobs: MCA SecyThe new framework applies to defaults occurring during the pandemic and is based on the ‘debtor-in-possession’ model with the involvement o...
- IBC amendment seeks to provide prepack resolutions for MSMEsAlternative framework expected to bring about quicker, more cost-effective resolution process.
- Plea against Insolvency code ordinance; Delhi High Court seeks Centre's standA bench of Chief Justice D N Patel and Justice Prateek Jalan issued notice to the Ministry of Law and the Insolvency and Bankruptcy Board o...
- View: Fear of flattening the business curveTo deal with Covid fallout, the Ordinance amended IBC, & suspended the law for six months, starting June 5.
- Firms get 6-month relief from IBC rulesDefault on repayments from March 25, the day when the nationwide lockdown began to curb coronavirus infections, would not be considered for...
- View: IBC requires urgent need for clarityIt is easy to be critical of past steps but it is more important to look forward. As corporate India aims to get back on its feet, there is...
- Ordinance to amend IBC likely this weekThe ordinance will seek to suspend the relevant provisions of IBC Sections 7, 9 and 10, to provide relief to borrowers from being dragged i...
- 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.
- Insolvency and Bankruptcy Code: Cabinet okays ordinance to amend IBCThe Insolvency and Bankruptcy Code Amendment (Ordinance) 2018 also seeks to streamline bidding eligibility provisions to remove grey areas
- IBC ordinance may restrict relief proposed for MSMEsThe changes have been made to the code on the basis of recommendations made by the 14-member, high-level law committee chaired by corporate...
- More changes to bankruptcy code likely in BudgetThe government has also set up a committee to identify areas that need to be addressed after seeing the working of the insolvency code for ...
- IBC Ordinance will improve borrowing culture: Corporate Affairs SecretaryThe IBC ordinance aims to keep wilful defaulters, undischarged insolvents and disqualified directors from getting back firms that got derai...
- Promoters bidding for IBC assets have to first pay up dues: Arun JaitleyOnly those promoters who have not serviced their loan accounts by not even paying the interest on loans have been barred, the finance minis...
- Screws tighten on defaulters, personal guarantors too may now face insolvency heatPersonal guarantors who may have escaped action in the NCLT process will no longer be immune. Their assets may now be encashed and used for...
- Insolvency ordinance levels field, not anti-promoter: GovernmentGovernment officials said that unlike the US and UK, where companies are widely held, in India most businesses are family controlled.
- Insolvency ordinance may see 100-150 cases reopenSources said the biggest impact will be on companies where the resolution plan has been finalised and is awaiting a go ahead from the Natio...
- View: The bankruptcy of politics stalls common sense in IndiaStrengthening the bankruptcy law would take patient backroom work; it's far easier to placate voters with, "Look, we're taking the Ruias' s...
- Insolvency ordinance: Lenders say they’ll be hitLenders are likely to be impacted as barring promoters from bidding would bring down the value of these assets, at least three senior banke...
- India's new insolvency ordinance: Blunt, unforgiving and politicalThe ordinance can be misinterpreted as an exercise of political grandstanding. In reality, it’s a righteous, simplistic solution to an old ...
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