Ibbi

Five years since the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code 2016 began, it has resolved only 394 cases.

Ministry of Corporate Affairs said that the changes will bring in greater discipline and transparency in insolvency proceedings.

The Supreme Court Wednesday said it will pass orders on a batch of pleas filed by Insolvency and Bankruptcy Board of India (IBBI) seeking the transfer of all petitions pending before different high courts challenging the provisions of Insolvency and Bankruptcy Code (IBC) with regard to personal insolvency.

Lenders lost out on 4,000 crore rupees in additional income due to delays in the resolution process beyond the time mandated by law, according to rating company ICRA.

The Insolvency and Bankruptcy Board of India (IBBI) signed a Memorandum of Understanding (MoU) today with the Indian Institute of Corporate Affairs (IICA).

The corporate affairs ministry has proposed to specify the Insolvency and Bankruptcy Board of India (IBBI) as the authority with respect to registration, recognition and ancillary matters related to valuers.

Comments have been sought on draft regulations pertaining to insolvency resolution process for individuals and firms.

The Insolvency and Bankruptcy Board of India (IBBI), which is implementing the Code, has amended the regulations whereby claims can be made by creditors other than financial and operational creditors.

Apart from the chairperson and four government nominees, the board would have five more persons, including three whole-time members. Two others would be from outside.

Five years since the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code 2016 began, it has resolved only 394 cases.

Ministry of Corporate Affairs said that the changes will bring in greater discipline and transparency in insolvency proceedings.

The Supreme Court Wednesday said it will pass orders on a batch of pleas filed by Insolvency and Bankruptcy Board of India (IBBI) seeking the transfer of all petitions pending before different high courts challenging the provisions of Insolvency and Bankruptcy Code (IBC) with regard to personal insolvency.

Lenders lost out on 4,000 crore rupees in additional income due to delays in the resolution process beyond the time mandated by law, according to rating company ICRA.

The Insolvency and Bankruptcy Board of India (IBBI) signed a Memorandum of Understanding (MoU) today with the Indian Institute of Corporate Affairs (IICA).

The corporate affairs ministry has proposed to specify the Insolvency and Bankruptcy Board of India (IBBI) as the authority with respect to registration, recognition and ancillary matters related to valuers.

Comments have been sought on draft regulations pertaining to insolvency resolution process for individuals and firms.

The Insolvency and Bankruptcy Board of India (IBBI), which is implementing the Code, has amended the regulations whereby claims can be made by creditors other than financial and operational creditors.

Apart from the chairperson and four government nominees, the board would have five more persons, including three whole-time members. Two others would be from outside.