Insolvency and Bankruptcy (Second Amendment) passed in Rajya Sabha

On September 19, 2020, the Rajya Sabha passed the Insolvency and Bankruptcy code (second Amendment) Bill 2020. According to the new amendment, fresh insolvency proceedings will not be started for the next six months considering Covid-19 pandemic. Why the suspension? Due to the covid-19 crisis the companies are facing disruptions. This has affected their interest payment ..

Month: Current Affairs - September, 2020

Category: Legal & Constitution Current Affairs

Topics: Companies Act • Insolvency • Insolvency and Bankruptcy Board of India • Insolvency Professional • Insolvency Resolution • Rajya Sabha • Reserve Bank of India • SARFESI act

Advisory Panel on Insolvency and Bankruptcy Board of India (IBBI) reconstituted

The Government of India recently reconstituted the advisory panel on corporate insolvency resolution and liquidation process. Highlights The IBBI recently reconstituted advisory panel by inducting four members. The committee was constituted in 2017 and is chaired by a noted banker Uday Kotak. The new members include Crisil MD Ashu Suyash, former chief economist at NSE ..

Month: Current Affairs - June, 2020

Category: India Nation & States Current Affairs

Topics: corporate insolvency resolution • IBBI • Insolvency • Insolvency & Bankruptcy Code • Insolvency and Bankruptcy Board of India • Insolvency and Bankruptcy Code • Reserve Bank of India (RBI)

IBBI tightens norms governing resolution professionals (RPs)

Insolvency and Bankruptcy Board of India (IBBI) has tightened norms that governs resolution professionals (RPs), wherein they would be barred from having employment when they are in possession of authorisation to take up work under insolvency law. Also, restrictions will also be in place for relatives of RPs in accepting employment after completion of resolution ..

Month: Current Affairs - July, 2019

Category: Economy & Banking Current Affairs

Topics: Authorisation for Assignment • IBBI (Insolvency Professionals) Regulations 2019 • Insolvency • Insolvency and Bankruptcy Board of India • Insolvency and Bankruptcy Code 2016 • resolution professionals

CEA Krishnamurthy Subramanian appointed part-time member in IBBI

Krishnamurthy Subramanian, Chief Economic Adviser (CEA) and B. Sriram, former managing director (MD) and chief executive officer (CEO) of Industrial Development Bank of India (IDBI Bank) were appointed part-time members of Insolvency and Bankruptcy Board of India (IBBI). K Subramanian, an Indian School of Business (ISB) Hyderabad professor was appointed chief economic adviser for a ..

Month: Current Affairs - June, 2019

Category: Awards, Persons & Places in News • Economy & Banking Current Affairs

Topics: Appointments Committee of the Cabinet • B. Sriram • Cabinet (ACC) • Chief Economic Advise • Debt recovery tribunal • IBC • Insolvency and Bankruptcy Board of India • Insolvency and Bankruptcy Code • Krishnamurthy Subramanian • Ministry of Corporate Affairs • Ministry of Finance • Ministry of Law and Justice • National Company Law Tribunal • Reserve Bank of India • Union Minister of Home Affairs

IBBI and SEBI sign pact for Effective Implementation of IBC

Insolvency and Bankruptcy Board of India (IBBI) and Securities and Exchange Board of India (SEBI) have signed a Memorandum of Understanding (MoU) to assist and co-operate with each other for the effective implementation of the Insolvency and Bankruptcy Code. Components of the MoU Sharing of information between the two parties. Sharing of resources available with ..

Month: Current Affairs - March, 2019

Category: Economy & Banking Current Affairs

Topics: IBBI • Insolvency and Bankruptcy Board of India • Insolvency and Bankruptcy Code • SEBI • Securities and Exchange Board of India