Insolvency Law

Corporate Affairs Minister Nirmala Sitharaman on Monday introduced a bill in the Lok Sabha to replace an ordinance that amended the insolvency law.

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

National Company Law Tribunal notice said it was appointing a resolution professional for Oyo's subsidiary, Oyo Hotels and Homes Pvt Ltd, and inviting all creditors to submit any claims it may have against the company.

Parliament on Monday approved the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020, whereby fresh insolvency proceedings will not be initiated for at least six months starting from March 25 in view of the coronavirus pandemic.

Centre had suspended insolvency proceedings for default in payments for a period of six months, starting 25 March

Credit investors are concerned that some weaker borrowers may use the temporary suspension of insolvency laws to delay payment

Parliament today passed amendments to the insolvency law that will help ring-fence successful bidders of insolvent companies from risk of criminal proceedings for offences committed by previous promoters.

Although the National Company Law Tribunal last September approved its resolution plan to take over the insolvent Bhushan Power and Steel, the Enforcement Directorate, which is investigating alleged fraud committed by the debt-laden firm's previous management, had attached the assets of BPSL which, it believed, were bought from proceeds of crime, f...

In an e-mail statement to investors, Essar Steel India Company Secretary Pankaj S. Chourasia said that in connection with the corporate insolvency resolution process of Essar Steel India, the resolution plan submitted by ArcelorMittal India has been approved by the Supreme Court through its judgment of November 15, 2019, after considering the judgm...

The bill, introduced in the Lok Sabha, seeks to remove bottlenecks and streamline the corporate insolvency resolution process, wherein successful bidders will be ring-fenced from any risk of criminal proceedings for offences committed by previous promoters of the companies concerned.

The Union cabinet, chaired by Prime Minister Narendra Modi, on Wednesday cleared amendments to the Insolvency and Bankruptcy Code (IBC) to ease the insolvency resolution process and promote ease of doing business. Aimed at streamlining of the insolvency resolution process, the IBC Amendment Bill seeks to protect last-mile funding and boost investme...

On July 30 this year, the National Company Law Appellate Tribunal (NCLAT) had allowed fresh bidding for the cash-strapped JIL but had barred its promoter Jaypee Group from participating in the auction.

In a major setback for property developers, the Supreme Court on Friday upheld the amendments to the Insolvency and Bankruptcy Code, granting homebuyers the status of financial creditors. The top court said the move does not infringe the rights of property developers. The Supreme Court also said homebuyers enjoy the same rights as financial credito...

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

Lok Sabha on Thursday passed amendments to the Insolvency and Bankruptcy Code, with the government asserting that the spirit behind the law is not to allow companies to die.

Corporate Affairs Minister Nirmala Sitharaman on Monday introduced a bill in the Lok Sabha to replace an ordinance that amended the insolvency law.

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

National Company Law Tribunal notice said it was appointing a resolution professional for Oyo's subsidiary, Oyo Hotels and Homes Pvt Ltd, and inviting all creditors to submit any claims it may have against the company.

Parliament on Monday approved the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020, whereby fresh insolvency proceedings will not be initiated for at least six months starting from March 25 in view of the coronavirus pandemic.

Centre had suspended insolvency proceedings for default in payments for a period of six months, starting 25 March

Credit investors are concerned that some weaker borrowers may use the temporary suspension of insolvency laws to delay payment

Parliament today passed amendments to the insolvency law that will help ring-fence successful bidders of insolvent companies from risk of criminal proceedings for offences committed by previous promoters.

Although the National Company Law Tribunal last September approved its resolution plan to take over the insolvent Bhushan Power and Steel, the Enforcement Directorate, which is investigating alleged fraud committed by the debt-laden firm's previous management, had attached the assets of BPSL which, it believed, were bought from proceeds of crime, f...

In an e-mail statement to investors, Essar Steel India Company Secretary Pankaj S. Chourasia said that in connection with the corporate insolvency resolution process of Essar Steel India, the resolution plan submitted by ArcelorMittal India has been approved by the Supreme Court through its judgment of November 15, 2019, after considering the judgm...

The bill, introduced in the Lok Sabha, seeks to remove bottlenecks and streamline the corporate insolvency resolution process, wherein successful bidders will be ring-fenced from any risk of criminal proceedings for offences committed by previous promoters of the companies concerned.

The Union cabinet, chaired by Prime Minister Narendra Modi, on Wednesday cleared amendments to the Insolvency and Bankruptcy Code (IBC) to ease the insolvency resolution process and promote ease of doing business. Aimed at streamlining of the insolvency resolution process, the IBC Amendment Bill seeks to protect last-mile funding and boost investme...

On July 30 this year, the National Company Law Appellate Tribunal (NCLAT) had allowed fresh bidding for the cash-strapped JIL but had barred its promoter Jaypee Group from participating in the auction.

In a major setback for property developers, the Supreme Court on Friday upheld the amendments to the Insolvency and Bankruptcy Code, granting homebuyers the status of financial creditors. The top court said the move does not infringe the rights of property developers. The Supreme Court also said homebuyers enjoy the same rights as financial credito...

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

Lok Sabha on Thursday passed amendments to the Insolvency and Bankruptcy Code, with the government asserting that the spirit behind the law is not to allow companies to die.