Insolvency and Bankruptcy Code

Creditor-led Insolvency Resolution Mechanism

The Creditor-led Insolvency Resolution Mechanism is a newly proposed mechanism that aims to reduce delays in the resolution process, which have escalated under the current system, causing legal challenges and a shortage of NCLT benches. As per the Insolvency and ..

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Corporate Affairs Ministry’s proposals on IBC

On December 23, 2021, the ministry of corporate affairs proposed ‘amendments to Insolvency and Bankruptcy Code (IBC)’ to speed up the rescue of distressed companies which are ending up in bankruptcy tribunals. Key Points Ministry suggested ways for faster admission ..

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RBI panel calls for overhauling ARC regulations

A Reserve Bank of India (RBI) panel has suggested for overhauling rules to govern Asset Reconstruction Companies (ARC). Key Points Overhauling ARC regulations will enhance the availability of bad loans for transactions. It will also bring in a wide set ..

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Insolvency and Bankruptcy Code (Amendment) Bill, 2021

Parliament passed Insolvency and Bankruptcy Code (Amendment) Bill, 2021, on August 3, 2021 after Rajya Sabha approved the bill amidst the protest. Highlights Bill was passed by Lok Sabha on July 28, 2021 and introduced in the Lower House on ..

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Sudarshan Sen Committee of RBI

The Reserve Bank of India recently set up a committee to study about the Asset Reconstruction Companies (ARC) in the country. The committee will evaluate the role of ARCs in debt resolution and will review their business model. About the ..

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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 ..

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