Pre-packaged insolvency resolution, allowing creditors and shareholders with a pre-negotiated corporate reorganisation plan to approach NCLT (national company law tribunal), may be taken forward by the government as a key route in time to come.   Sources said "this will aid the...
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An industrialist, who has keen interest in the resolution of bad loans, told me that banks are no longer keen on the shining new bankruptcy law—Insolvency and Bankruptcy Code (IBC)—to recover bad loans. He says that banks prefer to find other solutions because of long delays and endless...
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The government is continuing to make efforts improve the Insolvency and Bankruptcy Code (IBC) for which the Insolvency and Bankruptcy Board of India (IBBI) will continue to interact with and seek feedback from various stakeholders. The government is also working to augment National Company...
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State-run Allahabad Bank, which referred 65 stressed accounts involving around Rs 12,566 crore to the NCLT for IBC resolution during last fiscal, is focusing on recovery and rebalancing its loan book with emphasis on small, micro, agriculture and retail advances.   The lender also...
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“We don’t mind haircut, but we don’t want to be bald,” quipped State Bank of India (SBI) chairman, Rajnish Kumar, to make the point that the Bank was willing to take a discount while resolving bad loans, but wouldn’t be willing to accept a deep discount that leaves them with nothing. On a...
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