Insolvency And Bankruptcy Board Of India

Lenders are also considering a move to sell minority stakes in the sister concerns of Karvy Stock BrokingICICI Bank on 20 Dec became the first lender to approach the Hyderabad DRT for recovery of dues

IBBI has published the syllabus and other details of the valuation examination for three asset classes --- securities or financial assets, land building, and plant machinery, according to an official statement.

Under the so-called 'pre-packaged' bankruptcy schemes, creditors and shareholders will approach a bankruptcy court with a pre-negotiated reorganization plan, as prevalent in countries such as the US and the UK

Setting up of the PCR assumes significance amidst rising bad loans in the financial system. The non-performing assets in the banking system is about 10 trillion

The insolvency and bankruptcy code replaced a web of archaic laws, some dating back a 100 years, and helped India jump 30 points to make it to the top 100 countries in World Bank's ease of doing business rankings

The Insolvency and Bankruptcy Code needs to evolve if it is to uphold the objectives of fairness, collective resolution and equality

RBI and IBBI will share data and resources with each other to the extent allowed by law and hold frequent discussions to overcome regulatory bottlenecks with respect to implementation of IBC

So far, more than 500 cases have been admitted by the NCLT for resolution under the Insolvency and Bankruptcy Code

IRPs will approach Insolvency and Bankruptcy Board of India (IBBI) for leeway in the amended Insolvency and Bankruptcy Code (IBC) for genuine insolvency cases

The insolvency code ordinance barring promoters of defaulting firms will increase probability of successful resolution, says Insolvency and Bankruptcy Board of India chairman M.S. Sahoo