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Fresh IBC suspension due to COVID-19 may put brakes on stressed asset resolution

Fresh IBC suspension due to COVID-19 may put brakes on stressed asset resolution
To provide relief for entities impacted by the pandemic, the government has suspended fresh proceedings under the Insolvency and Bankruptcy Code (IBC) starting from March 25
PTI | December 31, 2020 | Updated 14:56 IST
Suspension of fresh proceedings under the insolvency law as well as the NCLT and the appellate tribunal switching to virtual hearings due to the coronavirus pandemic seem to have put the brakes on the pace of resolution process for stressed assets and realisation for creditors.
To provide relief for entities impacted by the pandemic, the government has suspended fresh proceedings under the Insolvency and Bankruptcy Code (IBC) starting from March 25, when the nationwide lockdown was imposed to curb spreading of coronavirus infections. The suspension has been extended till March next year. ....

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Suspension of fresh IBC proceedings, pandemic woes may hit resolution pace for stressed assets

Suspension of fresh IBC proceedings, pandemic woes may hit resolution pace for stressed assets
NEW DELHI: Suspension of fresh proceedings under the insolvency law as well as the NCLT and the appellate tribunal switching to virtual hearings due to the coronavirus pandemic seem to have put the brakes on the pace of resolution process for stressed assets and realisation for creditors.
To provide relief for entities impacted by the pandemic, the government has suspended fresh proceedings under the Insolvency and Bankruptcy Code (IBC) starting from March 25, when the nationwide lockdown was imposed to curb spreading of coronavirus infections. The suspension has been extended till March next year. ....

Justicemm Kumar , Abhinav Vashisht , Ramji Srinivasan , Justice Sj Mukhopadhaya , Jaypee Infratech , Saurabh Kalia , Supreme Court , Bar Association , While The National Company Law Tribunal , National Company Law Appellate Tribunal , Bankruptcy Code , National Company Law Tribunal , Justicebl Bhat , Companies Act , Competition Act , Bhushan Power , Dighi Port , Bankruptcy Board , Association Secretary Saurabh Kalia , Acting President , ராம்ஜி ஸ்ரீநிவாசன் , ஜெய்பீ இன்ப்றதேச் , ச Ura ரப் கலியா , உச்ச நீதிமன்றம் , மதுக்கூடம் சங்கம் , போது தி தேசிய நிறுவனம் சட்டம் தீர்ப்பாயம் ,

Fresh IBC suspension, pandemic may hit stressed assets resolution pace

Suspension of fresh proceedings under the insolvency law as well as the NCLT and the appellate tribunal switching to virtual hearings due to the coronavirus pandemic seem to have put the brakes on the pace of resolution process for stressed assets and realisation for creditors.
To provide relief for entities impacted by the pandemic, the government has suspended fresh proceedings under the Insolvency and Bankruptcy Code (IBC) starting from March 25, when the nationwide lockdown was imposed to curb spreading of coronavirus infections. The suspension has been extended till March next year.
While the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT) are conducting virtual hearings with a new set of standard operating procedures, experts are of the opinion that the pandemic has caused an overall slowdown in the resolution process. ....

Justicemm Kumar , Ramji Srinivasan , Abhinav Vashisht , Justice Sj Mukhopadhaya , Jaypee Infratech , Saurabh Kalia , Supreme Court , Bar Association , While The National Company Law Tribunal , National Company Law Appellate Tribunal , Bankruptcy Code , National Company Law Tribunal , Justicebl Bhat , Companies Act , Competition Act , Bhushan Power , Dighi Port , Bankruptcy Board , Association Secretary Saurabh Kalia , Acting President , ராம்ஜி ஸ்ரீநிவாசன் , ஜெய்பீ இன்ப்றதேச் , ச Ura ரப் கலியா , உச்ச நீதிமன்றம் , மதுக்கூடம் சங்கம் , போது தி தேசிய நிறுவனம் சட்டம் தீர்ப்பாயம் ,