• Tag results for Insolvency and Bankruptcy Code

Homebuyers can recover money if builder goes bankrupt

The amendment proposes to classify home buyers as ‘financial creditors’, which means they will have the same legal rights as banks to recover dues.

published on : 24th May 2018

Liquidation deadline may be relaxed for firms under Insolvency and Bankruptcy Code process

Sixteen months after the rollout of Insolvency and Bankruptcy Code to cleanse the banking sector’s bad loans mess, the jury is still out.

published on : 22nd April 2018

Committee of Creditors yet to approve resolution plans: Alok Industries

Yesterday, Reliance Industries, which had submitted a resolution plan along with JM Financial Asset Reconstruction Company for Alok Industries, had informed that its bid has been rejected by the CoC.

published on : 16th April 2018

RBI's new bad loan regime in place to promote transparency

RBI scrapped numerous loan restructuring programmes, asking banks to immediately identify defaults and make disclosures every Friday to the RBI credit registry, starting from February 23.

published on : 13th February 2018

NCLT pronounce liquidation of Gujarat NRE Coke under sec 14 of Insolvency and Bankruptcy Code

The company owed lenders around Rs 4,600 crore, and reported a loss of Rs 676 crore on a revenue of Rs 541 crore in 2016-17.

published on : 12th January 2018

Rajya Sabha clears Insolvency and Bankruptcy Code by voice vote

This clearing will pave the way for the Bill to be presented to the President for ascent where after the same will become a law.

published on : 3rd January 2018

Bankruptcy Code Bill passed in Lok Sabha

Union Finance minister Arun Jaitley said the government cannot allow loan defaulters to “merrily walk back” by paying a fraction of the due amount.

published on : 30th December 2017

Arun Jaitley introduces bill to amend Insolvency and Bankruptcy Code in Lok Sabha

Finance Minister Arun Jaitley today introduced a bill in the Lok Sabha to bar wilful defaulters as well as those with NPA accounts from bidding in auctions to recover bad loans.

published on : 28th December 2017

Total wealth held by individuals in India zooms to Rs 344 lakh crore in FY17

The wealth held by Indian individuals in financial assets has seen a substantial rise in FY17 growing at the rate of 14.63 per cent to Rs 204 lakh crore.

published on : 13th December 2017

Insolvency and Bankruptcy Code ordinance: Several companies say they are not 'wilful defaulters'

The government today promulgated an ordinance to bar wilful bank loan defaulters as well as those with NPA accounts from bidding in auctions being done to recover loans.

published on : 23rd November 2017

Cabinet approves amendments to India's insolvency and bankruptcy code

The finance ministry has already asked banks to ensure that wilful defaulters are prevented from buying back assets.

published on : 22nd November 2017

How well will the new ib code serve the Indian Economy?

The Insolvency and Bankruptcy Code (IBC) formulated in 2016 is inter alia supposed to take care of recovery of debts in a time-bound manner and also set a deterrent for other defaulters.

published on : 11th November 2017

'Shareholders' nod not required for resolution plan under Insolvency and Bankruptcy Code'

Providing clarity, the government today said resolution plans under the Insolvency and Bankruptcy Code does not require approval of the shareholders.

published on : 25th October 2017

SC to hear plea of over 30k home buyers of embattled Jaypee Infratech

The Supreme Court agreed to hear a plea seeking protection of interests of over 30,000 buyers who invested hard-earned money to book their dream homes.

published on : 23rd August 2017

NPA resolution not to liquidate companies, but to help save them: Finance Minister Arun Jaitley

Explaining the rationale for the new insolvency and bankruptcy code, he said, this was necessitated by the failure of debt recovery tribunals to effectively perform their duty after initial success.

published on : 19th August 2017
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