Resolution Framework for all Exposures of Lending Institutions

October 13, 2020 INSOL India - Editorial Team

On October 13, 2020, the Reserve Bank of India notified that lending institutions can invoke resolution framework launched under the Covid-19 linked stressed assets  for resolution in respect of all exposures including investment exposures, provided they are credit substitutes such..

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Clarification from RBI

October 15, 2020 INSOL India - Editorial Team

The Reserve Bank of India by its circular dated October 13, 2020, has clarified that loans which have remained standard without any default as of March 1, 2020, will be eligible for retructuring under the pandemic related resolution framework issued..

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Corporate Insolvency – Default Threshold

October 15, 2020 INSOL India - Editorial Team

The NCLAT has held that the revised threshold of Rs.1 crore to invoke the jurisdiction under IBC effective March 24, 2020, is rpospective and not retrospective.  In tother words all applications before March 24, 2020 with a default of more..

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Committee of Creditors can Vote for Multiple Resolution Plans

September 26, 2020 INSOL India Editorial Team

The Insolvency and Bankruptcy Board of India (IBBI) in a major amendment to the Corporate Insolvency Resolution Process (CIRP) has  provided that a Committee of Creditors can now vote on all compliant resolutions simultaneously and the plan that receives the..

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Insolvency Proceedings against Corporate Debtors and Personal Guarantors can go on together

September 26, 2020 INSOLINDIA EDITORIAL TEAM

Finance Minister Nirmala Sitaraman while replying to a debate on the IBC Second Amendment Bill of 2020 in the Rajys Sabha observed that the law provides for carrying out the resolution process and/or insolvency and bankruptcy proceedings simultaneously against the corporate..

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Suspension Period extended for insolvency proceedings against corporate debtors

September 26, 2020 INSOL India EDITORIAL TEAM

The Government of India, in exercise of its jurisdiction under the Insolvency and Bankruptcy Code, after the Second Amendment Act 2020, has issued a notification extending suspension of sections 7,9, and 10 of the IBC for a further period of three

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