IBBI notifies amendments to streamline corporate insolvency process
New Delhi, Jun 2 (PTI) The IBBI has notified amendments to the regulations governing corporate insolvency, aiming to streamline procedures, protect creditor interests, and encourage greater investor participation in resolution processes.
The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency Resolution Process for Corporate Persons Fourth Amendment regulations, 2025 on May 26, according to a release.
Among the significant change introduced is a provision for allowing resolution professionals with the Committee of Creditor's (CoC) approval, to invite expressions of interest not only for the entire corporate debtor but also for individual assets or a combination of both.
By enabling concurrent invitations, the resolution process can reduce timelines, prevent value erosion in viable segments, and encourage broader investor participation, IBBI said.
The regulations also revise the framework for payments under resolution plans executed in stages. In such cases, financial creditors who did not support the resolution plan will now receive payments at least on a pro rata basis and ahead of those who voted in favour.
The Board said this approach balances the legitimate rights of dissenting creditors with the practical constraints of phased implementation.
In another notable amendment, the CoC has been empowered to direct resolution professionals to invite the interim finance providers to attend its meetings as observers without voting rights.
As per IBBI, this measure is aimed to provide interim finance providers with a better understanding of the corporate debtor's operational status, thereby enabling them to make well-informed decisions regarding funding requirements.
The amended norms also mandate the resolution professionals to present all received plans, including non-compliant ones to the CoC along with relevant details, it said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
33 minutes ago
- Time of India
Agriculture self-reliance: Govt says oilseeds and pulses output growing faster; MPs raise alarm over costly edible oil imports
The government has told a parliamentary committee that domestic production of pulses and edible oils has risen at a greater pace in the last 10 years compared to the previous decade, even as several MPs voiced concern over the country's continued dependence on imports to meet demand. Tired of too many ads? go ad free now In a presentation to the Standing Committee on Agriculture, Animal Husbandry and Food Processing, the agriculture ministry said imports accounted for 15.66 million metric tonnes (MMT), or 56 per cent, of the total domestic demand for edible oils in 2023-24. Sources said the ministry, during the committee meeting held on June 20, emphasised the ongoing efforts to achieve self-sufficiency, PTI reported. It noted that oilseeds production rose by 55 per cent between 2014-15 and 2024-25, with the third advance estimate pegging production at 426.09 lakh tonnes in the last fiscal. In contrast, the growth in oilseeds output was only 13 per cent in the 2004-05 to 2014-15 period. MPs also expressed concerns over public health, particularly in connection with India's high dependence on imported palm oil, which is relatively cheaper. Some members flagged possible health hazards associated with palm oil consumption. The ministry said the country's dependence on edible oil imports is costing more than Rs 80,000 crore annually. Based on the data presented for 2023-24, India's domestic production was adequate to meet the demand for mustard and groundnut oils. However, the country had to import 3.49 MMT of sunflower oil against a domestic consumption of 3.55 MMT and imported more than 60 per cent of its soybean oil needs. On pulses, the ministry said their production rose by 47 per cent between 2014-15 and 2024-25—a period when the BJP-led NDA was in power—compared to a 31 per cent increase in the decade before, under the Congress-led UPA government. Tired of too many ads? go ad free now Some MPs suggested incentivising farmers who traditionally grow paddy and wheat to shift towards pulses and oilseeds. The ministry also elaborated on the government's roadmap to achieve 'aatmanirbharta' or self-reliance in pulses and oilseeds by 2030-31. These plans were detailed in the Union Budget earlier this year. Among the challenges flagged by the ministry was that 75 per cent of pulse crops are rainfed and grown on marginal lands with low fertility by small and marginal farmers. The sources added that the presentation also covered the government's national campaign to promote 'optimal utilization of edible oils and its health benefits' in line with Prime Minister Narendra Modi's call for a 10 per cent reduction in their intake to boost overall fitness.
Mint
33 minutes ago
- Mint
Net direct tax collection dips 1.39 pc to ₹4.59 lakh cr on lower advance tax mop-up, higher refunds
New Delhi, Jun 21 (PTI) Net direct tax collection so far this fiscal dipped 1.39 per cent to ₹ 4.59 lakh crore, on slowdown in advance tax mop-up and higher refunds, government data released on Saturday showed. Advance tax, which is an indicator of corporate profitability and income of individuals, grew a meagre 3.87 per cent to ₹ 1.56 lakh crore between April 1-June 19, 2025. In the comparable period in 2024, advance tax collection had recorded an annual growth of 27 per cent. Advance tax paid by corporates saw a growth of 5.86 per cent to ₹ 1.22 lakh crore, while those by non-corporates, including individuals, HUFs and firms, dropped 2.68 per cent to ₹ 33,928 crore. Advance tax is paid in four instalments -- in June, September, December, and March. Refund issuances increased by 58 per cent to ₹ 86,385 crore till June 19, this fiscal. Gross direct tax collection stood at ₹ 5.45 lakh crore so far this fiscal, logging a growth of 4.86 per cent from the year-ago period. Overall, the net direct tax collection kitty stood at about ₹ 4.59 lakh crore in the fiscal till June 19, 2025, registering a 1.39 per cent dip from ₹ 4.65 lakh crore collected in the corresponding period in 2024. During April 1-June 19, 2025, net corporate tax collection witnessed a slowdown at about ₹ 1.73 lakh crore, a decline of over 5 per cent year on year. Non-corporate tax collections, which include mainly personal income tax, however, recorded a slight increase of 0.7 per cent to ₹ 2.73 lakh crore. Securities Transaction Tax (STT) grew 12 per cent to ₹ 13,013 crore during the period.
Time of India
3 hours ago
- Time of India
Investor's tip to Indian manufacturers: Adopt tech and become 'Silicon Valley' for global funds
Indian investor Ankit Kedia urges the manufacturing sector to adopt affordable AI and tech to build a 'home-grown Silicon Valley,' leveraging government incentives and tier 2 and tier 3 cities. At the Super AI event, he highlighted rising investor interest, global potential, and plans to raise Rs 400 crore for Capital-A Fund-2. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Given the government's generous incentives, the Indian manufacturing sector should adopt technology to become a " Silicon Valley " that attracts global sovereign funds, said Bengaluru-based industrialist-turned-investor Ankit Kedia."Eventually, we should build Indian manufacturing startups that expand abroad as part of our future plans, as we want to make products for the world with a home-grown Silicon Valley-type ecosystem," Kedia said in an interview to PTI at the Super AI conference and exhibition held June 18-19 technology must be made affordable for these cash-strapped manufacturers operating in lower-cost environments in tier 2 and tier 3 cities, he already recognised as a technology hub and often called India's Silicon Valley, should now focus on manufacturing, especially by leveraging advanced technologies such as artificial intelligence, he who is currently working on a Rs 400-crore Fund-2 under his five-year-old Capital-A, shared his vision for the Indian manufacturing sector over the next 15 years, aiming for a strong foundation across the country, starting with low-cost factories in tier 2 and tier 3 two decades of experience in various industries and five years of running Capital-A Fund-1, Kedia is focused on technologies for the manufacturing sector, which he wants to combine with his long-term investment horizon of 15 to 20 has explored opportunities for the use of AI in manufacturing at the Super AI show, stating that he is returning home to raise Rs 400 crore for Fund-2, which will be strategically invested in factories in tier 2 and tier 3 cities such as Amritsar, Pune, Ahmedabad."We want hardware producers in these cities to form the foundation of our future manufacturing ecosystem and to share prosperity across the country," he said."India's large consumer market, along with the government's Production Linked Incentive (PLI) schemes, provides further confidence to investors to support small and medium-sized software or hardware manufacturers, who will have a low-cost advantage when competing globally," he also sees international sovereign funds moving to India for better returns on investment, especially as they face pressure from global Fund-1 has reported an Internal Rate of Return (IRR) of 28 per cent and is being tracked at 1.8X, Kedia said."Such fund returns are becoming more and more attractive to sovereign funds in Europe and the United States," said the fund manager, who invested Rs 120 crore under Fund-1 across 25 investments five years ago."The strong domestic market, the stability of the Indian ecosystem, and the potential of leveraging an increasing number of free trade agreements (FTAs) between India and international markets are all plus points for our manufacturing sector," he Arora, founder and CEO of Noida-based Macgence, noted that more and more enterprises are shifting to AI-automation to be more cost-effective and capture a bigger share of the market through efficient production."Small manufacturers in tier 2 and tier 3 city regions are able to use AI to communicate with their clients - a real time translation is offered to these small manufacturers to communicate in any language with clients."This will increase their communication skills and reach to global businesses as well as a large audience," said the 24-year-old who started with a language solutions company and now runs training data solutions for AI companies 7,000 participants from more than 100 countries attended the Singapore Super AI.
