Tag: ibbi
NARCL has acquired 22 accounts with an exposure of Rs 95,711 cr
NEW DELHI: The Finance Ministry Thursday said that the National Asset Reconstruction Company Limited (NARCL) has so far acquired 22 accounts with an exposure of…
IBBI proposes mandatory monitoring committees for resolution plans
The Insolvency and Bankruptcy Board of India (IBBI) has proposed monitoring committees for implementing resolution plans under the Insolvency and Bankruptcy Code (IBC) rules. These…
IBBI moots mediation between operational creditors & stressed companies
New Delhi: Operational creditors of a stressed firm including vendors and raw material suppliers will be able to explore mediation for the settlement of dues…
Lenders have recovered Rs 3.5 lakh cr under IBC: Ravi Mital
New Delhi: Lenders have recovered Rs 3.5 lakh crore through resolution of stressed assets under the insolvency process in the last eight years, a period…
IBBI amends rules to enhance interim representation for creditors in insolvency process
The IBBI has amended the Insolvency Resolution Process for Corporate Persons norms to introduce significant changes to enhance creditor representation in the insolvency process. The…
IBBI chief asks insolvency professionals to be as transparent as possible
IBBI Chairperson Ravi Mital on Tuesday asked insolvency professionals to be as transparent as possible during the resolution process as that will help in improving…
NCLT approved record 269 resolution plans in FY24
Mumbai: The National Company Law Tribunal (NCLT) approved a record 269 resolution plans under the insolvency law in 2023-24, which is 42 per cent higher…
IBBI plans new voting system for bankruptcies
The Insolvency and Bankruptcy Board of India (IBBI) is proposing a new voting system for bankruptcies allowing multiple votes for each available plan to maximise…
NCLT approves 180 resolution plans in FY23, totalling Rs 51,424 crore
Insolvency tribunal NCLT approved 180 resolution plans in FY23, making it the highest-ever annual number so far. With this, NCLT has clocked in a total…
insolvency: IBBI seeks public comments on regulatory framework under insolvency law
The Insolvency and Bankruptcy Board of India (IBBI) on Saturday sought public comments on the regulations notified till date under the insolvency law as it…