The Latest Breaking News from IBBI

Supertech insolvency: NCLAT raises concern over delay in appointing IRP, slippage on deadline

Concerns have been raised by the NCLAT regarding NBCC's significant delays in the construction of Supertech projects, while criticism mounts over the sluggish pace in appointing an interim resolution professional. The tribunal has instructed the NCLT and IBBI to provide names within a week, as NBCC grapples with the inability…

The Economic Times · Sep 20

Parliamentary panel backs govt steps to strengthen IBC recovery, seeks deeper action on fund diversion

A parliamentary panel has backed govt efforts to improve insolvency recovery, seeking urgent action to prevent fund diversion during insolvency proceedings. The committee noted a significant gap between avoidance transaction values and actual recoveries.

The Economic Times · Aug 13

IBC: Creditors realised Rs 4 lakh cr; cases involving Rs 14 lakh cr settled in pre-admission stage

India's Insolvency and Bankruptcy Code (IBC) has facilitated over Rs 4 lakh crore in creditor realisations from resolved cases. Additionally, nearly Rs 14 lakh crore in claims were settled pre-admission, showcasing a significant shift in debtor-creditor dynamics and promoting timely resolution of financial stress.

The Economic Times · May 28