Page 3 - Insolvency And Bankruptcy Code

NCLAT issues stay order on insolvency proceedings against HCL Tech

Case against HCL Tech was filed with NCLT in 2019 by Sahaj Bharti Travels, which claimed HCL Tech had continued to default on its payment under minimum guarantee clause of the agreement

Budget 2022: MSMEs may get credit guarantee, better deal in IBC cases

Banks and MSME industry representatives have sought support for the sector in the line of ECLGS, a measure introduced early in the pandemic

A code for the committee of creditors

Several proceedings have witnessed a variety of contraventions of provisions of the insolvency law by market players

Strengthening IBC

Proposed changes will reduce delays

Govt seeks comments on proposed changes to insolvency law

The amendments have been proposed by the Insolvency Law Committee (ILC)

Ministry proposes fixed timeline for NCLT, extended look-back period in IBC

The government has sought public comments on the proposal by January 13

Govt seeks comments on proposed amendments to insolvency law

The government invited comments on various amendments proposed to insolvency law, including to provisions related to time period for approval of resolution plans, wrongful trading.

Insolvency proceedings in slow motion

Processes like pre-packaged insolvency resolution and mediation and conciliation, which are not adjudication-intensive, may be encouraged

New Jet Airways owners may infuse around Rs 1,500 crore in first tranche

The investment announcement comes days before the deadline fixed by the lenders, funding shortage has been hurting revival plans of the airline

Till September, 421 cases resolved under insolvency law: Govt

As of September 30, a total of 4,708 CIRPs were initiated under the IBC

Code of conduct: IBBI move on COCs raises questions on jurisdiction

The step has added to the growing concern around the role of the insolvency regulator and whether it has delivered the goods

RBI moves NCLT Mumbai for bankruptcy proceedings against Reliance Capital

In a statement on its website, RBI said there would be an interim moratorium on and from the filing of the application till its admission or rejection by the NCLT

IBBI empowers adjudicating authority to pick IPs from panel to curb delays

Board has prepared an algorithm to place insolvency professionals on a panel in a particular order. The IP with lowest volume of ongoing processes gets a score of 100, will be at the top of the panel

RBI initiates insolvency proceedings against Reliance Cap at NCLT, Mumbai

RBI, which superseded the Reliance Capital board on Monday, filed an applicated at NCLT, Mumbai

RBI appoints three-member advisory committee to assist RCap's administrator

The regulator appointed Nageswar Rao Y, former executive director of Bank of Maharashtra, administrator of the company.

NCLT orders insolvency proceedings against MGF Developments

A two-member Delhi based bench of NCLT passed the order

Personal guarantors may be part of cross-border insolvency framework

The cross-border insolvency framework is yet to be notified under the Insolvency and Bankruptcy Code

Insolvency proceedings can be initiated against state-owned discoms: Govt

Ministry of Power has affirmed that insolvency proceedings can be initiated against state-owned electricity distribution as well as generation firms in case of default of payment by the creditors

MCA plans to set up a IBC21 portal with data on bankruptcy proceedings

The project will be headed by the Insolvency and Bankruptcy Board of India and executed by an external agency, along the lines of the MCA21 portal

UPA fell back on loosening govt's grip on PSBs: Montek Singh Ahluwalia

In a Q&A, the former deputy chairman of the Planning Commission, dwells on the areas where he feels UPA did not meet up to the challenges and the progress made by the BJP on certain fronts