Plea against Insolvency code ordinance : Delhi High Court seeks Centre stand

The Delhi High Court Tuesday sought the Centre’s reply on a plea challenging the Insolvency and Bankruptcy Code (IBC) Ordinance which suspended proceedings against defaults arising on or after March 25 for six months in view of the COVID-19 pandemic. A bench of Chief Justice D N Patel and Justice Prateek Jalan issued notice to […]

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6% of total and 14% of closed cases find resolution under IBC so far

Less than six percent of the total cases filed under India’s four-year-old bankruptcy code have found resolution till the end of March 2020, the latest data from the Insolvency and Bankruptcy Board of India (IBBI) shows. A total of 3,774 cases or corporate insolvency resolution processes (CIRPs) have been filed since the Insolvency and Bankruptcy […]

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COVID-19: Government to suspend insolvency proceedings for six months.

To  avoid companies at large from being forced into insolvency proceedings as businesses get impacted due to COVID-19, the union cabinet on Wednesday has given its nod to the proposal to introduce a new clause — 10A, under section 10 of the Insolvency and Bankruptcy Code (IBC), 2016, government sources told CNBC-TV18. The announcement, however, […]

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