The small and medium enterprises will be the new engines of growth of the economy.
IBC may have had an enabling provision with respect to cross border bankruptcy, but more work needs to be done
While improving NCLT infrastructure is a welcome move, the lack of adequate information utilities have handicapped the bankruptcy law.
Immediate reform measures include widening tax base, lowering tax rates, promoting Make in India and focusing on the Smart Cities Mission.
Although there are signs that the inflation targeting framework is working, policymakers would do well to not declare victory in a hurry
Many cases are embroiled in endless litigation and there isn’t enough institutional infrastructure to deal with this deluge. It's up to the government to boost institutional capacity and support the courts
Around 9,000 cases are pending with the NCLT benches for insolvency and other routine cases
Singhal, promoter of Bhushan Steel, has alleged that the Tata company's takeover of Bhushan Steel is against the Bankrupcty Code
The Binani Cement case has turned out to be a test of India’s recently implemented Insolvency and Bankruptcy Code
"Promoters of most large steel companies were quite intent to regain control and did appear to offer the most competitive bid during the resolution process but are barred from doing so now," domestic brokerage Kotak Securities said in a report today.
The government on Tuesday widened the scope of insolvency rules to bring individual businesses under its ambit.
Ericsson has also filed similar petitions against RCom subsidiaries, Reliance Infratel and Reliance Telecom, for recovery of Rs 534.75 crore and Rs 129.34 crore, respectively, the filing added.
The new regulations are viewed by some as giving upper hand to lenders who are reeling under Rs 8 lakh crore of non- performing assets (NPAs) or bad loans.
The ordinance announced on Friday lacks adequate substance and can be considered as incrementalism at best.
While many are congratulating the government on the new ordinance on bad loans, the Supreme Court has raised concerns over it.
One such company is Bharati Shipyard, where lenders plan to use the bankruptcy code and file a case with National Companies Law Tribunal (NCLT), according to sources. They may appoint E&Y as resolution professional.
The Insolvency and Bankruptcy Code is a key economic reform that will facilitate the ease of doing business, Union Minister Arjun Ram Meghwal said today.
Providing the first possible avenue to resolve insolvency in a market-determined and time-bound manner, the Insolvency and Bankruptcy Code will help improve ease of doing business as well as develop the debt market, says IBBI Chairperson M S Sahoo.
With the landmark legislation, the Insolvency and Bankruptcy Code, 2016 (Code) in its place, the country has now a single comprehensive legislation for dealing with varied facets of insolvency and bankruptcy
Nisha Poddar of CNBC-TV18 discusses insolvency and bankruptcy code with the panel of experts who have been working on this issue and can throw more light on the complexities of this law.
Karvy Private Wealth today said individual wealth grew 8.5 per cent to race past Rs 300 trillion mark at the end of 2015-16, driven by faster-clipped growth in physical assets, and will grow to Rs 558 trillion in the next five years.
Co-chairs of India-UK Financial Partnership (IUKFP) Uday Kotak and Gerry Grimstone today briefed Finance Minister Arun Jaitley on collaboration between practitioners and regulators of the two countries as India implements the new Insolvency and Bankruptcy Code 2016.
In the World Bank's latest 'Doing Business' 2017 report, India's place remained unchanged from last year's original ranking of 130 among the 190 economies that were assessed on various parameters.
All this has had India's ranking in ease of doing business go up by multiple notches in a year to 39 as per the latest ranking by the World Bank.
As part of implementing the Code, the government has already constituted the Insolvency and Bankruptcy Board of India (IBBI) while the draft norms will be finalised after taking into consideration views of the stakeholders.