bankruptcy

Elon Musk warns SpaceX employees of potential bankruptcy, suggests them to work over weekend

Musk revealed that the company faces a 'genuine risk of bankruptcy' if production does not increase to support a high flight rate of the company's new Starship rocket next year.

published on : 1st December 2021

Government proposes framework for cross-border insolvency; seeks comments till December 15

The corporate affairs ministry, which is implementing the Insolvency and Bankruptcy Code (IBC), has sought comments on the draft framework till December 15.

published on : 26th November 2021

Building a tiger economy in India: Daunting but doable

Since 2015, except for the Covid-19 impacted period, India has been the fastest-growing major economy and according to IMF projections is expected to remain so in the immediate years ahead.

published on : 25th November 2021

Lot more room for improvement in IBC: Crisil

The new Insolvency law, which came into existence in 2016, is a complete shift from the earlier laws as unlike the earlier laws, IBC gives the creditors full control of the recovery process.

published on : 5th November 2021

Tracing the evolution of Bankruptcy Code

There is a lot of pendency at both the NCLT and NCLAT due to unfulfilled vacancies, and more than 70% of cases are not resolved within the 180-day timeline

published on : 5th November 2021

Recoveries under IBC only one-third of claims, process needs stronger push: Crisil Ratings

It can be noted that the commentary from the leading credit rating agency comes amid concerns raised over low recoveries of about 5 per cent in recent high-value cases.

published on : 3rd November 2021

No takers for seaplane two years after Federal Bank took possession of Kochi-based company

For the auction of the 'Quest Kodiak' aircraft, manufactured by P&W Canada, the IBC has put a reserve price of about Rs 5.45 crore.

published on : 30th October 2021

US court dismisses plea filed by fugitive businessman Nirav Modi, associates

Levin had also sought a minimum compensation of USD 15 million for "harm" suffered by the debtors of Modi and his associates Mihir Bhansali and Ajay Gandhi.

published on : 19th October 2021

Former Barcelona president Josep Bartomeu slams accusations of 'poor management'

Josep Bartomeu said that most of the club's financial woes had been caused by the impact of the pandemic, which closed down Camp Nou for more than a year and reduced other sources of revenue.

published on : 15th October 2021

Government departments pose major hurdle in bankruptcy cases

The tax departments did not like being put behind others in the IBC, but they accepted it. Some other departments have not quite reconciled to the Code’s basic premise

published on : 23rd September 2021

Hyderabad's National Company Law Tribunal pulled up in Viceroy Hotels case

A division bench suspended the orders passed by the NCLT on September 1, 2021. It may be recalled that CFM Asset Re-construction Pvt. Ltd. had submitted a bid for Rs 185 crore for the Viceroy Hotels.

published on : 19th September 2021

Resolution plan if cleared can’t be withdrawn, says SC

The apex court also said that the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC) has to be completed within the 330-day deadline.

published on : 14th September 2021

IBBI: Financial creditors realised just 25 per cent of total claims under insolvency

As many as 4,541 CIRPs (Corporate Insolvency Resolution Process) were initiated till the end of June and out of them, 2,859 were closed.

published on : 8th September 2021

Need objective assessment of working of insolvency law: IBBI chief

M S Sahoo's remarks come against the backdrop of diverse views being expressed on the overall impact of the Insolvency and Bankruptcy Code (IBC), which came into force in 2016.

published on : 2nd September 2021

Why insolvency regulator wants code of conduct for bankers?

Paying heed to the demand of several stakeholders, the insolvency regulator has finally released a code of conduct for the committee of creditors.

published on : 28th August 2021
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