SARFAESI: Uncertain landscape for auction purchasers & asymmetric information
Presently lenders have SARFAESI as one of the main recovery channels. Govt inserted Section 26E “Notwithstanding anything, debts of secured...
NCLAT nixes attempts of Shyam Sel and Power to revise resolution plan for Mittal Corp
In a case that appears to be like that of the Reliance Capital corporate insolvency resolution plan (CIRP), the National...
Govt panel not in favour of group insolvency for financial service providers
A government appointed panel has recommended keeping financial service providers out of the group insolvency framework, a report on which...
Summary of changes proposed in insolvency laws
To strengthen the functioning of the IBC, changes to the Code are being considered in relation to the admission of...
CIRP can be reinstated during liquidation process if market conditions for corporate debtor improves: IBBI
In another ‘big’ change proposed in the consultation paper floated by the Insolvency and Bankruptcy Board of India (IBBI), it...
Rethinking the Fast-Track Insolvency Resolution Process
The Insolvency and Bankruptcy Board of India (IBBI) has proposed changes in the Fast-Track Corporate Insolvency Resolution Process (FIRP) in...
“Separate the process of approval of resolution plan and distribution of proceeds”
In order to avoid wastage of time due to objections about the distribution of proceeds raised when the resolution plan...
Proposal to allow insolvency process only against defaulting real estate projects, not entire company
In a big change proposed in the insolvency cases related to real estate companies, the insolvency regulator of the country...
Vedanta bid for Meenakshi Energy gets CoC nod
The resolution plan submitted by Vedanta Ltd has been approved by the committee of creditors (CoC) of Nellore, Andhra Pradesh-based...
Company insolvencies in UK rises 32% in Dec 2022
The number of registered company insolvencies in the UK in December 2022 was 1,964, which is 32% higher than in...