IBC emerges as major mode of NPA recovery

March 15, 2021 EDITORIAL TEAM INSOL India

Non-performing assets (“NPAs”) recovered by scheduled commercial banks by way of CIRP under the IBC increased to about 61 per cent of the total amount recovered. IBC, under which recovery is incidental to the rescue of companies, remained the dominant..

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264 Big Wilful Defaulters Owe Rs 1.08 Lakh Crore to Banks, Reveals RBI

March 15, 2021 EDITORIAL TEAM INSOL India

In a reply to an application filed under the Right to Information (RTI) Act, 2005 the Reserve Bank of India (RBI) stated that there were 1913 wilful defaulters together owing Rs 1.46 lakh crore to banks as on June 2020...

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Applicability of Section 18 Limitation Act to proceedings under Insolvency & Bankruptcy Code

March 15, 2021 EDITORIAL TEAM - INSOL India

The issue of application of Section 18 of the Limitation Act, 1963 has always remained a contentious issue when presented before courts since the resolution of the dispute is usually fact dependent. Section 18 states that the initial date for the..

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Notification under Section 10A of IBC

December 22, 2020 EDITORIAL TEAM INSOL India

The notification extends the application of Section 10A for three more months thereby which effectively disabling the filing of applications for initiation of corporate insolvency resolution of corporate debtors till 25th March 2021. This would extend the suspension period to..

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Situation Demands That Loan Moratorium Be Extended Till 31 March 2021": Plea In Supreme Court Seeks Extension

December 28, 2020 EDITORIAL BOARD INSOL India

An amendment application praying for directions to extend the moratorium period till March 31, 2021 has been filed in the Supreme Court. The Supreme Court is hearing the issue of extension of loan moratorium and waiver of accruing interest. One..

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AMENDMENTS IN THE INSOLVENCY AND BANKRUPTCY LAW - Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2020

December 28, 2020 EDITORIAL TEAM INSOL India

The following amendments have been made:  Regulation 21A, which specifies the dissemination of public announcement, has been inserted, namely:  “An information utility shall disseminate every public announcement it receives or has access to, on the date of its receipt or access, as..

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