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Vishnu Tandi

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Insecurity of Secured Creditors and Rainbow Impact on IBC Regime

November 4, 2023 4704 Views 0 comment Print

Explore the impact of the Rainbow Papers case on secured creditors’ priority in the Insolvency and Bankruptcy Code (IBC) and the future of India’s insolvency regime

How good will be India’s Bad Bank?

June 8, 2021 2043 Views 0 comment Print

Since our country’s financial system is predominantly bank-based, non-performing Assets (NPA) of Banks have significant impact on the country’s GDP. NPAs also generate a vicious cycle of effects on the sustainability and growth of the banking system, and if not managed properly could lead to bank’s failure. Mounting NPA is a serious concern for all […]

Impact of Covid-19 on Recovery of Debts by Banking Industry

October 5, 2020 4794 Views 0 comment Print

The battle with COVID-19 is not only to save the country and its people but also to ensure that the banking channels are working round the clock to cater to the needs of the public as well as financial market. Needless to say, that banking system is the backbone of any country and its failure […]

Process of Filing Application under Insolvency & Bankruptcy Code, 2016

June 27, 2020 53562 Views 4 comments Print

On occurrence of default in repayment of financial debt of a company or LLP, the financial creditor either by itself or jointly with other financial creditors, or any other person on behalf of the financial creditor, as may be notified by the Central Government can file an application for initiating corporate insolvency resolution process(CIRP) against the company or LLP (In IBC say, corporate debtor) before the Adjudicating Authority(NCLT).

Timeline of Turns and Twists in Essar Steel’s Insolvency Case

July 25, 2019 5460 Views 0 comment Print

As per the statutory requirement of Insolvency and Bankruptcy Code, 2016, a resolution plan for bankrupt Essar Steel was to be found within 270 days, but here even after 500 days, there seems to be no end in sight as a consortium of lenders led by State Bank of India has filed a petition before the Supreme Court […]

Resolution vs. Liquidation: The Real Spirit of Insolvency and Bankruptcy Code, 2016

September 30, 2018 21549 Views 3 comments Print

Revival of the stressed company may be the primary objective of the Code, but official data show that more companies have gone for liquidation in the new regime so far than the resolution as lenders have failed to endorse any viable plan for their revival. According to the data available on the IBBI website, till the end of June 2018, total 1547 applications for the Insolvency Resolution were filed out of which 977 applications had been admitted into resolution process and of which 91 were closed on appeal or review. Data further reveals that till 30th June 2018, total 136 companies yielded liquidations while only 34 companies achieved resolution.

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May 2024