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Latest Articles in Insolvency and Bankruptcy Bill

IBC - A W.I.P. Is Better Than R.I.P

Despite much criticism of the IBC, one has to accept that it has proved far more effective than any other way of recovering lender monies. The correct way to validate its effectiveness would be to compare the resolution value to the liquidation value and not the total loans

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Insolvency And Bankruptcy Bill: Click Here To Read Salient Features

Here are the salient features of the Insolvency and Bankruptcy Code (Amendment) Bill, 2021:

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NCLAT Closes Insolvency Proceedings Against Jyoti Ltd After Settlement With Financial Creditors

A two-member bench, including Acting Chairperson Justice B Lal Bhat, allowed the plea of the company after observing that it has already paid Rs 16.5 crore as per the compromise proposal.

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DHFL Stock Hits Upper Circuit On Filing Application With NCLT For Submission Of Resolution Plan

The stocks of DHFL hit its upper trading limit with a gain of 4.76 per cent at Rs 19.80 apiece on the bourses.

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Mediation In Corporate Insolvency: A Game Changer

The question before us is: how to achieve the aforesaid objective and ease the pressure of the NCLT? Our suggested solution is introduction of mediation in the resolution process.

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NuMetal Ineligible To Bid For Essar Steel: ArcelorMittal To SC

ArcelorMittal told the Supreme Court that NuMetal was ineligible to bid for Essar Steel on various grounds including that it was a shell company created by firm in which Essar group promoters have majority shares

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Insolvency And Bankruptcy Law Amended: Finance Ministry

The ministry said in a series of tweets that India's president had given clearance for the amendments, which follow cabinet approval on Wednesday

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First Test Of India's New Bankruptcy Law Offers Cautionary Tale

In January, Innoventive Industries, a speciality steelmaker based in western India, was forced into the bankruptcy court by its lenders, testing for the first time new insolvency rules that aim to resolve India's $150 billion bad debt overhang

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Bankruptcy Law: Beyond The Code

The new bankruptcy law will strengthen hands of lenders to recover outstanding debts by setting a deadline of 180 days for companies to pay or face liquidation

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Bankruptcy Code Very Positive Financial Sector Reform: Nomura

The Insolvency and Bankruptcy Code will help improve the ease of doing business and will be a big positive for the banking sector as it aims to ensure a consolidated legal framework for resolving bankruptcy

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