Ibc News

In value terms, the IBC has rescued 70 per cent of distressed assets through insolvency resolution plans and has released remaining 30 per cent of such assets through liquidations

Government has taken several measures, including deferment of tax payment date, to help businesses and people, Nirmala Sitharaman said The corporate affairs ministry, which is implementing the IBC, has suspended Sections 7, 9 and 10 to provide relief to companies

The bankruptcy framework can be improved by enabling bankers to take economically efficient decisions, which entail assessing the fair value of sinking firms with the necessary haircut, Subramanian said

It has been stalled since 25 March to allow financially-stressed companies to recover

Lenders chart plan to recover dues from promoters under IBCNotices to promoters who feature in the first such list being prepared by banks may be sent in the first week of Oct

258 companies were saved from going bankrupt through the IBC process, says Nirmala SitharamanShe also clarified that insolvency proceedings against corporates defaulting on loans prior to March 25 will continue and the amendment will not stall those cases

A significant amount of recovery has been witnessed in the banking system since implementation of IBC

As per the Bill, the suspension of the code is initially for a period of six months or such further period, not exceeding one year from 25 MarchThe suspension of IBC was a measure originally announced by Nirmala Sitharaman on 17 May

PSBs asked to monitor cases for individual bankruptcyDept of financial services says that the IBC rules empower creditors to submit insolvency filings

A report says the crisis will also see technology companies with healthy balance sheets making opportunistic acquisitions at bargain rates