Insolvency and Bankruptcy Code

Creditor-led Insolvency Resolution Mechanism

May 9, 2023

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

December 24, 2021

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

November 3, 2021

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

August 4, 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

April 20, 2021

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

April 8, 2021

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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Section 32A of Insolvency and Bankruptcy Code

January 22, 2021

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 ..

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RBI Trend and Progress Report, 2020

December 30, 2020

The Trend and Progress report of Reserve Bank of India provides information about performance of the banking sector. This includes non-banking Financial Institutions and cooperative banks. The report also offers perspectives on the evolving outlook of financial sector of India. ..

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Injeti Srinivas appointed First Chairman of International Financial Services Centre Authority

July 7, 2020

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 ..

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

June 15, 2020

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 ..

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