New Delhi, May 28 (IANS) The Insolvency and Bankruptcy Code, 2016 has significantly strengthened India’s insolvency and credit ecosystem since its enactment, improving recovery mechanisms, boosting creditor discipline and creating a more structured resolution process for distressed entities, according to an official factsheet released on Thursday.As of March 2026, creditors realised approximately Rs 4.32 lakh crore through approved resolution plans under the IBC. Recoveries exceeded 116.85 of …
Latest Insolvency and Bankruptcy Code News & Updates
New Delhi, May 18 (IANS) India’s financial system has become stronger and more stable due to the growing role of asset reconstruction companies (ARCs), M Nagaraju, Secretary, Department of Financial Services, said on Monday.Addressing an industry gathering during ASREC logo launch event in the national capital, he said ARCs have emerged as a key pillar of the country’s financial ecosystem by helping banks and financial institutions resolve stressed assets efficiently.“ARCs play a major rol…
New Delhi, April 30 (IANS) The National Asset Reconstruction Company Limited (NARCL) has emerged as a key player in India’s stressed asset resolution ecosystem, aimed at strengthening the banking sector’s balance sheet. NARCL’s recovery efforts recorded a significant acceleration in the financial year 2025-26, with ₹4,364 crore realised, accounting for approximately 70 per cent of cumulative recoveries, according to a Finance Ministry statement issued on Thursday.This momentum und…
New Delhi, April 30 (IANS) The Centre has approved the appointment of Justice (Retd.) Anupinder Singh Grewal, former judge of the Punjab and Haryana High Court, as President of the National Company Law Tribunal (NCLT).According to an official notification issued by the Department of Personnel and Training (DoPT), the Appointments Committee of the Cabinet cleared the Ministry of Corporate Affairs’ proposal for Justice Grewal’s appointment to the top post in the NCLT.“The Appointments Commit…
Mumbai, April 21 (IANS) JSW Energy Limited on Tuesday said its subsidiary, JSW Mahanadi Power Company Limited, has received a demand notice of Rs 1,447.34 crore from the Water Resources Division in Janjgir, Chhattisgarh, towards water charges, most of which relate to the period before the approval of its resolution plan under the Insolvency and Bankruptcy Code, 2016.The company stated that the National Company Law Tribunal (NCLT), Hyderabad, had approved the resolution plan on February 13, 2025,…
New Delhi, April 20 (IANS) The Central Bureau of Investigation (CBI) has arrested two senior executives of Anil Ambani-controlled Reliance Communications (RCom), D. Vishwanath and Anil Kalya, in connection with the Rs 19,694 crore bank fraud case registered against the company, according to an agency statement on Monday. The CBI had registered a regular case against Reliance Communications Limited, Anil D Ambani, and unknown others on the complaint of State Bank of India (SBI), on the allegation…
New Delhi, April 19 (IANS) The Insolvency and Bankruptcy Code (IBC) has fundamentally changed how business failures are handled in India by enabling timely resolution and restoring asset value, Sanjay Singhania, Vice President of PHD Chamber of Commerce and Industry (PHDCCI) said on Sunday.Speaking at “IBC Pulse: Trends, Transitions & Trajectories,” organised by PHDCCI at PHD House here, Singhania said that earlier, business failures were often delayed, leading to significant erosion of …
New Delhi, April 10 (IANS) Strengthening India’s real estate insolvency framework needs a fundamental shift from entity‑level resolutions to a project‑centric model that prioritises completion and delivery of homes, a report said on Friday.The report from ICRA called for strengthening coordination between the Insolvency and Bankruptcy Code, 2016 and the Real Estate (Regulation and Development) Act, 2016 to achieve this transition.The Committee on Framing Guidelines for Insolvency Proceedings…
New Delhi, April 6 (IANS) In a setback to Vedanta Group, the Supreme Court on Monday declined to stay the implementation of Adani Enterprises’ resolution plan for debt-ridden Jaiprakash Associates Ltd.A bench, led by Chief Justice (CJI) Surya Kant, noted that the insolvency proceedings are already listed for final hearing before the National Company Law Appellate Tribunal (NCLAT) on April 10, and therefore found no reason to intervene at this stage.”In view of the fact that company appeals are n…
New Delhi, March 30 (IANS) The Enforcement Directorate has investigated 1,105 bank fraud cases under the Prevention of Money Laundering Act (PMLA) and has attached proceeds of crime worth Rs 64,920 crore, Finance Minister Nirmala Sitharaman said in the Lok Sabha on Monday. She also said that action had been taken under the Fugitive Economic Offenders Act (FEOA) against those evading Indian law by staying abroad.This was a reference to high-profile cases such as the Nirav Modi case, including …