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Home » IBC

Tag: IBC

Government Suspended Bankruptcy Code, What Does It Mean for Banks ?
Loan FAQ

Government Suspended Bankruptcy Code, What Does It Mean for Banks ?

by Askbanking May 17, 2020 Loan FAQ1 Comment

Bankruptcy Code suspension for one year, announced by the finance minister of India under COVID-19 relief package. It is done to provide relief to the companies from failing in commitment of repayment. It means companies are now not dragged into tribunals at a time during a year. Government will bring an Ordinance to implement it. […]

Rs 83,000 Crore Bank Dues Settled in Recent Months
Banking News

Rs 83,000 Crore Bank Dues Settled in Recent Months

by Askbanking May 23, 2018May 23, 2018 Banking NewsLeave a comment

The newly-enacted Insolvency and Bankruptcy Code (IBC) has forced nearly 2100 companies who have defaulted on repayment of loans to banks, to settle their dues of around Rs 83,000 crore. A loan is classified as an NPA if dues are unpaid for 90 days. The list includes many big names like Ruias of Essar, Singals of Bhushan Group and Gaurs […]

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