Tag: IBC

Govt amends insolvency law; introduces pre-packaged resolution process for MSMEs

An ordinance was promulgated to amend the Insolvency and Bankruptcy Code (IBC) on April 4, according to a notification.

April 5, 2021

RBI revamps asset resolution framework

In its continuous efforts to expedite and ease out the resolution process of huge bad loans in the banking sector, the Reserve Bank of India (RBI) has announced a complete overhaul of the asset resolution framework. The new framework is expected to help with early recognition and resolution of bad loans by immediately withdrawing existing …

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February 13, 2018

More amendments likely in insolvency law

The insolvency law might be amended depending on recommendations of the panel reviewing issues related to the legislation, including those pertaining to home buyers, a senior government official said. While everything is time-bound under the Insolvency and Bankruptcy Code (IBC), Corporate Affairs Secretary Injeti Srinivas said the issue is how the interests of stakeholders are …

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January 28, 2018

Implementing Laws

It is part of the function of entrepreneurs to operate in an environment of ambiguity. Customer tastes are fickle, low-cost competitors emerge, sales channels alter. This uncertainty is the nature of the game of commerce. But laws establish the rules of the game. The notion of private property, the enforceability of contracts, the limited liability …

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January 25, 2018

Alternate management can takeover stressed units under IBC: Minister

Union Steel Minister Chaudhary Birender Singh has said that government’s new Insolvency and Bankruptcy Code provides possibility of takeover of financially stressed units by alternate efficient management. According to a statement released by the Steel Ministry on Saturday, he made these comments at the global forum on the excess steel capacity held at Berlin on …

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December 3, 2017

Bankruptcy Code an example of hurried legislation: Congress

The Congress on Thursday said the Insolvency and Banking Code (IBC) of 2016 is “an example of a hurried legislation and has many gaps”. The Congress reaction came after President Ram Nath Kovind signed an ordinance on Thursday for amendment to the Code, which was sent to him by the Union Cabinet a day earlier. …

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November 24, 2017

Provisioning for insolvency cases not unusually large: RBI official

Reserve Bank of India Deputy Governor N.S. Vishwanathan on Friday said the required provisioning for the NPA (non-performing asset) accounts referred for insolvency resolution is “nothing unusually large”. “Let me explain the logic for the provisioning requirement for the cases referred in the IBC (Insolvency and Bankruptcy Code),” he said at an event organised by …

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October 13, 2017

Boosting private investment, banks’ growth major concerns: Jaitley

Looking at ways to boost economy amid a slowdown, Finance Minister Arun Jaitley on Friday said that encouraging private investment and improving capacity of banking system to support growth are the two major challenges for which best solutions have to be found. “There are two major challenges – encouraging private sector investment and improving capacity …

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September 22, 2017

‘Indian banks exploring various means of recapitalisation’

 Recapitalisation is a major issue for state-run banks owing to the massive non-performing assets (NPAs), or bad loans, accumulated by them and they are now exploring various sources of raising capital, according to a leading public sector bank (PSB). “Banks’ capitalisation is a major issue for PSBs. We have to make high provisions, also now …

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September 14, 2017