Insolvency Code News
IBC reforms: Let’s strengthen the Code as a key growth enabler
This is a ‘big bang’ reform, as the IMF called it, but is in need of reforms. It’ll perform better if we adopt new technology for processes, clarify legal principles and close gaps in resolving cross-border insolvency.
6 min read4 Dec 2024E-auction of sick business assets on dedicated platform may become compulsory
The IBBI’s new directive to list liquidation assets on baanknet.com aims to streamline auctions and enhance transparency. By centralizing information, the initiative is expected to increase bidder participation and improve recovery values for distressed assets.
3 min read4 Dec 2024Mint Explainer: The Cape Town connection to the Jet Airways, Go First insolvencies
Apart from deficiencies in India’s bankruptcy laws in dealing with airline insolvencies, the country’s partial alignment with a two-decade-old international treaty is also to blame.
7 min read12 Nov 2024Go First’s foreign funding push to test India’s insolvency framework
Grounded airline Go First has sought foreign litigation finance to battle Pratt & Whitney, testing the limits of India’s insolvency code and offering creditors a last shot at recovery.
5 min read22 Oct 2024Jet Airways’ winning bidder JKC tells Supreme Court lenders want to sell airline’s assets as scrap to maximise profits
JKC claimed lenders led by State Bank of India are intentionally pushing the company towards liquidation to maximise profits by selling the airline’s assets as scrap.
4 min read1 Oct 2024Mint Explainer: SC continues to hear Jet Airways ownership dispute – What’s at stake
The Supreme Court’s decision could determine whether Jet Airways gets revived or heads for liquidation.
3 min read1 Oct 2024NCLT orders fresh insolvency proceedings for Lavasa Corp
The tribunal also upheld the creditors’ decision to invoke the ₹25-crore performance bank guarantees from DPIL citing non-compliance of the insolvency process.
2 min read6 Sep 2024Adani in talks to buy Reliance Power’s 600 MW thermal plant
Adani Power is in talks with CFM Asset Reconstruction Co., the sole lender of Reliance Power’s subsidiary Vidarbha Industries Power, to negotiate on the deal to acquire the latter’s 600 MW power plants in Nagpur Maharashtra.
4 min read19 Aug 2024Byju’s settles insolvency dispute over ₹5 cr dues with France’s Teleperformance
Earlier in April, Teleperformance cited a business agreement that was the basis of the dispute between the two. It was stated that Byju’s started defaulting on the payments from 14 April 2023.
1 min read26 Jun 2024NCLT admits Pune-based Cian Healthcare under insolvency over dues worth ₹1.14 cr
Cian Healthcare argued that the Albendazole tablets made using raw material supplied by Shreeji Pharmachem were found to be of poor quality, causing financial and reputational loss to the Pune-based drugmaker.
2 min read12 Jun 2024Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared