Bankers take 80% haircut in 22 insolvency resolutions in July-September; total recovery at Rs 3,779 cr
As many as 22 CIRP resolutions were reported to the Insolvency and Bankruptcy Board of India (IBBI) in the July-September...
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Resolution professional can’t act on behalf of corporate debtor beyond CIRP: Delhi HC
Can a resolution professional (RP) continue to act on behalf of the corporate debtor once the plan is approved and...
NCLT reconstitutes benches for regular hearing from 1 December
The NCLT benches have been reconstituted to attend regular hearing through video conference with effect from 1 December 2020. The...
Companies going for voluntary liquidation may now have an option to withdraw from the process
After amending the liquidation process under the Insolvency and Bankruptcy Code (IBC), the insolvency regulator – Insolvency and Bankruptcy Board...
Unsuccessful resolution applicant has no right to question implementation of approved resolution plan
Once a resolution applicant is out of the fray to acquire a corporate debtor in an insolvency proceeding, the unsuccessful...
Why IBBI is keeping a close eye on fees charged by insolvency professionals
The fees charged by the insolvency professional (IP) either in his/her role as a resolution professional, interim resolution professional or...
RBI bites the bullet, may allow large corporates to own banks
The Reserve Bank of India (RBI) might soon allow large corporate to own banks, something that the banking regulator had...
Piramal Group’s letter to creditors of DHFL protesting Adani’s ‘unsolicited’ bid
The Adani Group’s submission of bid to acquire the entire business of beleaguered housing finance company -– Dewan Housing Finance...
Liquidation process gets easier; quicker disposal of disputed assets, early exit option for creditors
In order to make the liquidation process faster, the insolvency regulator has made a couple of important amendments in the...
Amendments in IBC require each creditor to be informed the formula for payment of debt under resolution plan
In view of the growing number of litigations and disputes among creditors arising out of the distribution of realized amount...