In IBC, a noticeable improvement in credit discipline, with more than 30,000 cases settled prior to admission, covering underlying defaults worth Rs 13.78 lakh crore till December 2024, said Jithesh John, IES, executive director, IBBI at the 8th Annual Conference on Insolvency & Bankruptcy Code (IBC) Conclave, organised by CII Eastern Region at Kolkata, today.
The Insolvency and Bankruptcy Board of India (IBBI) organized their 11th conclave of Insolvency Professionals (IPs) at the India International Centre here on Saturday.
The regulatory frameworks must not only safeguard good governance but also enable enterprises, encourage formalisation and build trust in our systems, Union Finance Minister said on Thursday.
The Insolvency and Bankruptcy Board of India (IBBI) in its latest newsletter said that over the years since the introduction of the Insolvency and Bankruptcy Code (IBC), more companies are getting resolved, and the number of liquidations is going down.
Ravi Mittal, chairperson, Insolvency and Bankruptcy Board of India (IBBI) said companies in India have yet to learn to use the Insolvency and Bankruptcy Code (IBC) to make themselves more productive.
The Insolvency and Bankruptcy Board of India (IBBI) is set to celebrate its 8th Annual Day on Tuesday with the main event being organised here .
The meeting was attended by Chairpersons of Debt Recovery Appellate Tribunals (DRATs) and Presiding Officers of Debt Recovery Tribunals (DRTs).
IBBI has set a benchmark for penalties so that IPAs or self-regulators impose penalties in a uniform manner.
Regulations require the interim resolution professional to offer a choice of three Insolvency Professionals (IP) in the public announcement, and the creditors in a class to choose one of them to act as their authorised representative.
The Board was of the view that with limits in place, quality of output is expected to improve and it will facilitate the realisation of the objective of value maximisation as enshrined in the Code.
