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..
Read More
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..
Read More
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..
Read More
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..
Read More
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..
Read More
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