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Analysis of the suspension of Insolvency & Bankruptcy Act

Post Lockdown NPA Scenario Context: Banking and NPA is an important topic under UPSC Mains for Economy and every year around 3-4 Questions come in Prelims related to Banking and terminologies. Hence, Insolvency and Bankruptcy Act, 2016 is important. What is NPA? Money or assets provided by banks to companies as loans sometimes remain unpaid by borrowers. This late or non-payment of loans is defined as Non-Performing Assets (NPA). They are also termed as bad assets. In India, the RB

Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021

Click here to read everything about Insolvency and Bankruptcy Code, 2016 and then read the following:   IBC (Amendment) Ordinance, 2021 Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 promulgated on 4th April, 2021 provides for pre-packaged insolvency resolution process (PPIRP) for corporate debtors classified as micro, small and medium enterprises. The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Pre-packag

Sudarshan Sen Committee for Asset Reconstruction Companies by RBI

Reserve Bank of India(RBI) has set up the Sudarshan Sen committee to review the working of Asset Reconstruction Companies (ARCs) Comprehensively. About Asset Reconstruction Company (ARC): Asset Reconstruction Company (ARC) is a specialized financial institution that buys the Non-Performing Assets (NPAs) from banks and financial institutions. It helps banks in cleaning up their balance sheets. Thus, it helps banks to concentrate on normal banking activities. Banks, Instead of goi

Personal guarantors liable for corporate debt

Personal guarantors liable for corporate debt Insolvency and Bankruptcy Code, 2016 It deals with debt default of companies and limited liability entities, partnership firms and individuals. It was based on T K Vishwanathan Committee on Bankruptcy Law Reforms Committee (BLRC) in 2014. It proposes a framework to ensure early detection of stress in a business, initation of the insolvency resolution process by debtor, financial creditor or operational creditor; liquidation of unviable b

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