Updates under IBC as on Sept 26, 2018

The companies (Registered valuers and Valuation) Third Amendment Rules, 2018

In Rule 11, for the figures, letters and word, “30th September, 2018” occurring at both the places, the figures, letters and word “31st January, 2019” shall be substituted. In the said rules, in rule 1.4, in clause (f), for the words “one year” the words “two years” shall be substituted.

http://ibbi.gov.in/webadmin/pdf/legalframwork/2018/Sep/CompaniesThirdAmendment_25092018_2018-09-26%2010:30:59.pdf

How to prevent IBC from becoming a victim of its own success

https://economictimes.indiatimes.com/news/economy/policy/how-can-we-prevent-ibc-from-becoming-a-victim-of-its-own-success/articleshow/65916543.cms

Lenders to decide on stressed power projects by October 10

https://economictimes.indiatimes.com/industry/energy/power/lenders-to-decide-on-stressed-power-projects-by-october-10/articleshow/65894067.cms

Lower value realisation due to liquidation of corporate debtors

https://indianexpress.com/article/business/banking-and-finance/lower-value-realisation-due-to-liquidation-of-corporate-debtors/

NCLT approves Orchid Pharma’s resolution plan by Ingen Capital

https://www.financialexpress.com/industry/nclt-approves-orchid-pharmas-resolution-plan-by-ingen-capital/1322326/

Govt, IBBI plan to address home buyers’ concerns

https://timesofindia.indiatimes.com/business/india-business/govt-ibbi-plan-to-address-home-buyers-concerns/articleshow/65907458.cms

The Committee of Creditors ‘dharma’ should be maximisation with fairness

https://www.financialexpress.com/opinion/the-committee-of-creditors-dharma-should-be-maximisation-with-fairness/1322268/

In a first, IL&FS group’s Tamil Nadu thermal power unit taken to NCLT

https://www.business-standard.com/article/companies/lenders-take-il-fs-unit-to-nclt-118092000845_1.html

Supreme Court stays Mack Soft insolvency; ED probes money laundering

https://economictimes.indiatimes.com/industry/banking/finance/banking/supreme-court-stays-mack-soft-insolvency-ed-probes-money-laundering/articleshow/65894200.cms

Financial creditors not part of CoC don’t have voting rights: IBBI

https://www.thehindubusinessline.com/economy/financial-creditors-not-part-of-coc-dont-have-voting-rights-ibbi/article25009258.ece

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