IBC
International Research Conference on Insolvency and Bankruptcy
The first two-day International Research Conference on Insolvency and Bankruptcy was recently organized in India. Who organized the conference? The conference was organized by the Insolvency and Bankruptcy Board of India (IBBI), jointly with the Indian Institute of Management Ahmedabad ..
Month: Current Affairs - May, 2022
Category: Economy & Banking Current Affairs
MCA: 60% Eligible for pre-pack turnaround Scheme
The Ministry of Corporate Affairs (MCA) recently announced that six out of ten active Indian companies are eligible for the new pre-packaged bankruptcy scheme. This is because out of the 1.3 million active companies in India, 60% belong to the ..
Month: Current Affairs - April, 2021
Insolvency and Bankruptcy Code Amendment Ordinance, 2021
The President of India, Shri Ram Nath Kovind recently promulgated the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021. The ordinance will allow pre-packaged insolvency resolution process for MSMEs. The Pre-packaged Insolvency Resolution Process is called PIRP. About the Ordinance The ..
Month: Current Affairs - April, 2021
Section 32A of Insolvency and Bankruptcy Code
The Supreme Court recently upheld the validity of Section 32 A of the Insolvency and Bankruptcy Code. Under its judgement, the apex court pronounced that the successful bidders for a corporate debtor will be immune from any investigations conducted by ..
Month: Current Affairs - January, 2021
Injeti Srinivas appointed First Chairman of International Financial Services Centre Authority
On July 6, 2020, the retired 1983 batch IAS officer from Odisha Cadre, Injeti Srinivas was appointed as the first chairman of the International Financial Service Centre Authority. Highlights The retired diplomat has been appointed as the chairman for a ..
Month: Current Affairs - July, 2020
Fifth Tranche of Atma Nirbhar Bharat Abhiyan announced
On May 17, 2020, the Union Finance Minister Nirmala Sitaraman announced the fifth and final tranche of Atma Nirbhar Bharat Abhiyan. The scheme is to implement several measures to fight COVID-19 at an allocated budget of Rs 20 lakh crore ..
Month: Current Affairs - May, 2020
CII sets up COVID-19 Rehabilitation and Relief Fund
The Confederation of Indian Industries has set up funds to assist rehabilitation of micro, small and medium enterprises. The fund is to be raised from the members of the confederation. Highlights The MSMEs are the most affected sectors due to ..
Month: Current Affairs - March, 2020
What is the Insolvency and Bankruptcy Code, 2016 (IBC)?
The Insolvency and Bankruptcy Code, 2016 (IBC) is the bankruptcy law of India which was passed by the Parliament in May 2016 to consolidate the existing framework for Insolvency and Bankruptcy by creating a single law. The IBC code is ..