Poor run for IBC continues. What ails it?
Everything that could go wrong has gone wrong – political will has weakened, poor regulatory culture endures and the system seems to have been gamed
insolvency and bankruptcy code
May 2023
March 2023
July 2022
April 2022
March 2022
February 2022
September 2021
June 2021
January 2021
Relief to Go First as NCLT admits insolvency plea
NCLT orders the initiation of the CIRP and the appointment of a resolution professional; Go First cancels flights until May 19, 2023
ZEE settles ₹211 cr dues dispute with IPRS; insolvency plea withdrawn
In January this year, the artistes’ body filed a petition at the NCLT to initiate an insolvency process against Zee Entertainment, seeking payment of ₹211.41 crore.
IBC’s Existential Problems
With liquidations surpassing resolutions, bankers need to look at alternatives to the bankruptcy code.
Bank of India drags Future Retail to bankruptcy court
The lender’s move to seek insolvency proceedings against the embattled retailer is likely to affect its ₹24,713 crore asset sale deal with Reliance Industries.
Why are Reliance Infra, Reliance Power shares under pressure today?
Reliance Infrastructure and Reliance Power nosedived up to 9% in tandem with a 0.8% fall in the BSE Sensex.
IndusInd Bank files bankruptcy against Zee over default
The case pertains to alleged default of ₹83.08 crore term loan facility issued by IndusInd Bank to Siti Networks, a cable TV operator promoted by Subhash Chandra-led Essel Group.
IBBI approves code of conduct for banks in insolvency cases
The IBBI board has purportedly approved the code of conduct to mitigate the issue of haircut in insolvency cases, albeit it won’t have any penal provisions or statutory enforcements.
Why ex-promoters are stuck on their bankrupt firms
Ever since India’s bankruptcy law came into being, several businessmen have sprung up with ‘eye-popping’ offers for their fallen stars at the risk of delaying the insolvency process.
Reprieve for DHFL’s small fixed deposit holders
Lenders decide to pay FD depositors holding up to ₹2 lakh the full amount while other depositors will face the distribution mechanism.
