If harsh haircuts on bankrupt assets weren’t bad enough, India’s lenders must now be going bald with worry. A recent court order has raised the unpleasant prospect of having to return the money new owners paid them to settle the unpaid loans of insolvent firms — years later.The nation’s nine-year-old insolvency code has struggled with…
The Insolvency and Bankruptcy Code (IBC), 2016, has achieved a remarkable milestone with 40 corporate insolvency resolution processes (CIRPs) yielding 100% recovery of admitted claims, according to a study by the Insolvency & Valuation Standards Board (IVSB) of the Institute of Chartered Accountants of India (ICAI). These cases, resolved between 2017 and 2024, stand out in a framework where…
India’s insolvency law has bankers going bald Deccan Herald Read the original article here
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Liquidation likely for troubled builder Inspired Homes The West Australian Read the original article here
The Insolvency and Bankruptcy Code (IBC), enacted on 28 May 2016, was designed to address corporate distress by enabling quicker resolution of insolvency cases and aiming to preserve the value of assets. As of December 2024, a total of 8,175 Corporate Insolvency Resolution Processes (CIRPs) had been admitted under the Code. Among the cases that…
India’s Insolvency Law Has Bankers Going Bald Bloomberg Read the original article here
Image used for representative purpose only. | Photo Credit: Reuters The National Company Law Appellate Tribunal (NCLAT) has dismissed an insolvency petition against PepsiCo India Holdings after observing that provisions of IBC cannot be turned into a debt-recovery proceeding. The appellate insolvency tribunal has upheld the earlier order passed by the Chandigarh bench of the…
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