83% of default cases getting resolved before going into CIRP: Economic Survey
The Insolvency and Bankruptcy Code (IBC) has brought about significant behavioural changes among the creditors and debtors thereby redefining debtor-creditor...
Month: January 2021
Relaxed regulations resulted in higher lending to firms with poor fundamentals: Economic Survey Report
Regulatory forbearance has resulted in increased lending to firms with poor fundamentals and higher lending to inefficient projects, says the...
IMF financial stability report hints at increasing corporate defaults, insolvencies
The latest Global Financial Stability Report of the International Monetary Fund (IMF) has hinted at higher default and insolvency risks...
UK court orders winding up of retail giant Debenhams
A UK court has passed a winding up order against Debenhams PLC on 25 January 2021 and appointed the official...
Unwinding govt support may increase default risks among weaker companies in 2021: Moody’s
The uneven economic recovery in Asia and gradual unwinding of government support will also weigh on banks' asset quality to...
Insolvency application cannot be rejected merely because of technical defects, says NCLAT
Dismissal of application as being non-maintainable for technical defects such as omission in appending of signatures on the application in...
In first judgement, Chennai NCLAT saves liquidator from ignominy; asks NCLT to remove adverse remarks
In its first judgement, the Chennai bench of the National Company Law Appellate Tribunal (NCLAT) came to the rescue of...
NCLAT adjudicated 69% of cases filed during pandemic
Union minister of Finance and Corporate Affairs Nirmal Sitharaman Minister commended the role the National Company Law Tribunal (NCLT) and...
IBC passes another test of constitutionality as SC upholds IBC Amendments Act 2020
By Megha Mittal and Ishika Basu In view of the rising need to fill critical gaps in the corporate insolvency...
Key takeaways from Supreme Court judgement upholding amendments in Section 7, 11 and 32A
The Insolvency and Bankruptcy Code (Amendment) Act, 2020, among others, inserted three provisos to section 7(1), an additional explanation tosection...