Tag: insolvency and bankruptcy code
NCLT: Rescues for large defaulters may strike an informal note
The Centre would soon put in place a creditor-led insolvency resolution mechanism, largely involving out-of-court arrangements for even big loan default accounts, to ease 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…
Reform pill likely soon for speedy recovery of debt
NEW DELHI: The government is finalising changes in various debt recovery laws to empower banks and other lenders to quickly resolve non-performing loans. The measures…
Partial sale of companies won’t be default under Insolvency and Bankruptcy Code
The government could allow part-sale of a corporate debtor under the bankruptcy law only if the stressed entity fails to attract a rescue plan for…
NCLT initiates Go First airline’s plea to initiate insolvency resolution
The National Company Law Tribunal (NCLT) on Wednesday admitted Go First’s voluntary plea under the Insolvency and Bankruptcy Code (IBC) and awarded the airline bankruptcy…
NCLT initiates insolvency proceedings for Go First
The National Company Law Tribunal (NCLT) on Wednesday admitted Go First’s voluntary plea under the Insolvency and Bankruptcy Code (IBC) and awarded the airline bankruptcy…
No priority for worker dues after liquidation under IBC
The Supreme Court on Tuesday endorsed a provision of the Companies Act, 2013, that says workers’ dues will not get preferential payment in case of…
Surge in personal guarantor cases under IBC in FY23
Personal guarantors of loans taken by bankrupt companies are in the dock as lenders are increasingly invoking such guarantees under the Insolvency and Bankruptcy Code…
Budget provides buffer from global challenges: Parameswaran Iyer
The Union Budget 2023 will help provide the needed buffer from global economic challenges with focus on incentivising capex while promoting fiscal discipline and fostering…