IBC

Wednesday, Apr 24, 2024 | Last Update : 10:24 AM IST

Finance Minister Nirmala Sitharaman (Photo- PTI)

Key tax, other deadlines extended; ATM charges waived

Govt to announce economic package soon to cushion impact of coronavirus, says Sitharaman

24 Mar 2020 8:09 PM

The Reserve Bank on Friday sent the troubled mortgage lender for bankruptcy proceedings, making it the first financial services player to go to the NCLT for a possible debt resolution.

DHFL shares fall nearly 5 pc as RBI starts resolution process

Over 17 lakh shares of DHFL were traded on the NSE, while the BSE saw an exchange of 4.51 lakh shares.

02 Dec 2019 4:37 PM

We are working out a mechanism where the resolution applicant, who through this entire court supervised process is acquiring a stressed asset as a going concern, will not be encumbered by the criminal liability relating to the company which has been caused by the previous management, an official said.

Govt plans to amend IBC to ring-fence buyers of stressed assets from prosecution

The move will help make the insolvency process more attractive for the bidders and instil confidence in them, sources said.

24 Nov 2019 5:29 PM

The corporate insolvency resolution process for an FSP would be initiated ‘only on an application by the appropriate regulator’.

NBFCs with Rs 500 cr assets can go for insolvency resolution

On Friday, the ministry notified the framework for dealing with systemically important FSPs, excluding banks.

19 Nov 2019 9:35 AM

Finance Minister Nirmala Sitharaman (Photo: File)

No need to escalate one case to reflect everything to do with IBC: Sitharaman

Bankruptcy law of India which seeks to consolidate the existing framework by creating a single law for insolvency and bankruptcy.

21 Oct 2019 9:58 AM

It is not a very happy situation. There is a feedback...threshold approach has to be looked at, Corporate Affairs Secretary Injeti Srinivas.(Photo: File)

Govt mulls raising Rs 1 lakh default threshold for invoking IBC: Srinivas

The banks should be looking at other options for recovering loans before invoking the IBC, said Corp Affairs Secy Injeti Srinivas.

14 Oct 2019 10:18 PM

A bench headed by Justice R F Nariman, which disposed of a batch of over 180 petitions filed by various builders. (Photo: File)

SC upholds IBC amendments, status of homebuyers as financial creditors

The bench said only genuine homebuyers can invoke insolvency proceedings against the builder.

09 Aug 2019 12:09 PM

The full service carrier stopped flying on April 17 as it ran out of money for daily operations. (Photo: Representational/PTI)

Jet Airways employees seek interim financial relief

AK Mohanty said one month's salary should be released to Jet Airways employees for their basic survival.

06 Aug 2019 3:46 PM

Finance Minister Nirmala Sitharaman. (Photo: ANI)

Finance Minister Sitharaman to meet CEOs of PSU banks on Friday

The country's largest bank, State Bank of India, has lending worth Rs 1.76 lakh crore classified as NPA till march 2019.

01 Aug 2019 10:18 AM

The NCLAT had asked state-owned NBCC, whose bid was rejected by the CoC of Jaypee Infratech, to submit fresh resolution plan for the debt-ridden company.

NCLAT extends Jaypee Infratech insolvency period by 90 days

Appellate tribunal rejected the plea of Jaiprakash Associates Ltd, the promoters of Jaypee Infratech, to be eligible to submit bid.

30 Jul 2019 3:02 PM

NCLAT gave operational creditors equal status as lenders in the distribution of the ArcelorMittal's bid amount among the creditors of Essar Steel.

Supreme Court orders status quo in Essar insolvency case

Essar Steel was auctioned under the new IBC to recover Rs 54,547 crore of unpaid dues of financial lenders.

22 Jul 2019 11:29 AM

Dutch insolvency court administrator has agreed before the NCLAT not to sell the confiscated assets of debt-ridden Jet Airways.

Dutch bankruptcy administrator moves NCLAT on Jet Airways matter

A consortium of 26 bankers led by SBI had approached NCLT to recover dues of over Rs 8,500 cr from Jet Airways.

12 Jul 2019 12:48 PM

Former promoters of Fortis Healthcare Ltd, Malvinder Singh and Shivinder Singh. (Photo: ANI)

NCLAT dismisses HDFC's insolvency plea against RHC Holding

The NCLAT had in January this year issued notices to RHC Holding and other parties and directed them to file their replies.

10 Jul 2019 12:03 PM

The ecosystem for insolvency and bankruptcy is getting systematically built out with recovery and resolution of significant amount of distressed assets.

Economic Survey: Debt recovery strengthened, claims of Rs 1.73 lakh cr settled

The Survey said that IBC has initiated a cultural shift in the dynamics between lender and borrower, promoter and creditor.

04 Jul 2019 3:31 PM

Lenders have decided to seek resolution under IBC since only a conditional bid was received.

Lenders seek Jet Airways bankruptcy in last-ditch sale effort

Jet and its lenders have been searching for new investors but have failed to agree a proposal.

18 Jun 2019 8:46 AM

The counsel further alleged that JAL is creating legal hurdles in the IBC proceedings.

Direct NCLT Allahabad for early hearing on insolvency plea against JAL: ICICI Bank

A single member NCLT bench of Justice Bansi Lal Bhat directed to list ICICI Bank's plea on July 1 for hearing.

17 Jun 2019 1:18 PM

The RBI came out with a revised prudential framework for resolution of stressed assets after its February 2018 circular in this regard was struck down by the Supreme Court.

New RBI norms to give more lenders headroom to resolve large NPAs: Report

New framework provides some leeway to lenders and encourages them to refer cases to IBC, said SBI in its report.

11 Jun 2019 7:10 PM

During the first half of the previous fiscal, banks recovered Rs 60,713 crore from bad loans. (Representational Image)

Public sector banks recover Rs 1.2 lakh cr from bad loans in 2018-19

Banks recovered close to Rs 55,000 crore from the NCLT resolution, an official said.

25 May 2019 1:12 PM

As on March 31, 2019, there were 1,143 cases outstanding under the IBC of which resolution in 32 per cent of the cases was pending for more than 270 days.

IBC process helps recover Rs 70,000 cr bad loans in FY19: Report

The recovery rate for the 94 cases resolved through IBC by FY2018-19 is 43 per cent.

15 May 2019 8:49 AM

In its petition, ESAHL said Arcelor Mittal India Ltd and its promoter Lakshmi Mittal had "misled" the Supreme Court, lenders and insolvency court into believing that they had ceased to have any business association with Pramod and Vinod Mittal and their companies.

Essar Steel shareholder seeks rejection of ArcelorMittal bid for company

Essar Steel shareholder ESAHL said ArcelorMittal India Ltd and its promoter Lakshmi Mittal had 'misled' Supreme Court.

07 May 2019 3:12 PM

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Sanjeev Ahluwalia

IBC