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The Insolvency and Bankruptcy Board of India (IBBI) has organised a three-day training programme for Indian Corporate Law Service (ICLS) trainee officers, the Ministry of Corporate Affairs said on Thursday.
New Delhi: The government on Thursday invited comments on various amendments proposed to the insolvency law, including provisions related to the time period for approval of resolution plans...
The Insolvency & Bankruptcy Code, 2016 (“IBC”) has been one of the most talked about debated, evolving legislations of recent times. It has brought…
Information Utility advantage Part of IBC framework, Information Utility is a boon for creditors One of the biggest challenges faced by business entities, especially the smaller ones, is management of receivables and the risk of receivables turning into bad debt. The Covid pandemic has accentuated this challenge. To facilitate confirmation of receivables that act as an evidence of receivables, and to avoid disputes later, the concept of Information Utility (IU) was introduced under the legal framework of the Insolvency and Bankruptcy Code (IBC). IU is a platform to submit commercial informat...
1. Introduction Covid-19 related stress severely impacted all aspects of the Indian economy including the nascent insolvency regime under the Insolvency and Bankruptcy Code, 2016 (" Code"). The financial stability report (" FSR") of December 2020 released by the Reserve Bank of India (" RBI") predicts a sharp rise in the gross non-performing assets of banks by September 2021 1. The FSR predicts uncertainty in the economic recovery path although it assures that the worst is behind. Needless to say, economic recovery is impossible without resolution of bad debts and especially Covid-19 defaults...