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| INSOL India is an independent leadership body representing practitioners and other associated professionals specialising in the fields of restructuring, insolvency and turnaround. It is an association with an architecture that facilitates key stakeholders to come together and share experiences while preserving their independence. |
Welcome to INSOL India Newsletter Volume 8, Issue February | Mar 07, 2018
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| Editor's Message |
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Editorial by Divyanshu Pandey
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Greetings and warm welcome to all INSOL India members and friends.
It is indeed a pleasure to see the interest and participation shown by various bidders in resolution of large accounts. It is a matter of time and we will see a resolution plan being approved for one of these accounts. As observed in our earlier editions, a successful resolution plan of a large account will be a hallmark in furthering the efficacy of the Insolvency Code.
In this edition, we have an article which provides an overview of RBI’s new directive on resolution of stressed assets and how it supplements the Insolvency Code. We also update you about the measures which the IBBI is taking to regulate and streamline CIRP process and the stakeholders and a noteworthy order passed by NCLAT.
We hope you enjoy the information in this month’s newsletter. We invite and encourage all of you to contribute to the newsletter by submitting articles and latest developments in insolvency practice with the editorial board. We look forward to receiving your valuable inputs.
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| President's Message |
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A. S. Chandhiok
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On behalf of INSOL India, I wish all our members and readers a very fruitful 2018. The year 2017 has been an eventful year for the insolvency regime. May the year 2018 further strengthen and streamline implementation of Insolvency and Bankruptcy Code, 2016.
Insolvency and Bankruptcy Code (Amendment) Act, 2018 has come into effect. The insolvency jurisprudence is developing manifold. Many important questions stand answered by judicial pronouncements right from the Apex Court, Appellate and the Adjudicating Authorities, adding value and strength to implementation of the Code. The Insolvency and Bankruptcy Board of India continues to lead the enforcement of the Code from the front and, whenever and wherever required, has promptly come out with the amendments/clarifications.
India has so far weathered the contagion of the global financial crises wonderfully. Everyone is looking at the international monetary fund projection of India to return to 7% path very soon. The resolution process in the 12 cases filed by Financial Institutions are likely to be completed soon. Each stakeholder is awaiting the final outcome.
The first information utility under the Code stands registered and would, in due course, expand to strengthen working of the Code. Each of us connected with the Code must continue to work with determination and total dedication and apply the best of ourselves to achieve the goal of Code. INSOL India is awaiting the personal insolvency regime to be brought into operation, which will open new gates for insolvency professionals.
I am thankful to the editors for their untiring efforts for bringing out the newsletter.
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| E-Newsletter Editorial Board |
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DISCLAIMER
INSOL India is a society registered under the provisions of Societies Registration Act XXI of 1860. A certificate to this effect was issued by the Registrar of Societies, Government of National Capital Territory of Delhi on 11th January 2000.
The formation of INSOL India fulfilled the long cherished desire of the members of the legal fraternity, chartered accountants, company secretaries and other persons, bodies and institutions in India, to have an association to promote closer co-operation, exchange of ideas, dissemination of information and an empathetic understanding of law of insolvency and related lawhe formation of INSOL India fulfilled the long cherished desire of the members of the legal fraternity, chartered accountants, company secretaries and other persons, bodies and institutions in India, to have an association to promote closer co-operation, exchange of ideas, dissemination of information and an empathetic understanding of law of insolvency and related laws.
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