Individual Bankruptcy
Tupperware files for bankruptcy as its colourful containers lose relevance
The company listed $500 million-$1 billion in estimated assets and $1 billion-$10 billion in estimated liabilities
 "Tupperware files for bankruptcy as its colourful containers lose relevance")
Courts cannot direct govt to notify law passed by Parliament, says SC
The courts cannot direct the government to notify a law passed by Parliament, the Supreme Court said on Monday while dismissing a PIL seeking implementation of certain provisions of the Insolvency and Bankruptcy Code. "It is up to the government to notify a law passed by Parliament. This is beyond the power of the courts. Sorry, this is in the domain of policy. We cannot direct this," a bench of Chief Justice DY Chandrachud, Justice JB Pardiwala and Justice Manoj Misra said. "We cannot issue a writ of mandamus to the government that they shall notify the law," the Chief Justice said and referred to his judgment to this effect. The top court was hearing a PIL filed by one Seema B Qayyum, seeking directions to the Centre to notify one part of the Insolvency and Bankruptcy Code.
 "Courts cannot direct govt to notify law passed by Parliament, says SC")
Software firm Ebix files bankruptcy after short-seller attacks, debt woes
Publicly traded Ebix is the parent of Indian fintech company EbixCash, which facilitates payments, foreign exchange and prepaid gift cards.
 "Software firm Ebix files bankruptcy after short-seller attacks, debt woes")
India's airlines: Both Go First and bankruptcy laws need a rescue
Insolvent airline Go First will be a test of whether the country is ready to rebalance creditors' rights and shareholders' privileges
 "India's airlines: Both Go First and bankruptcy laws need a rescue")
Individual insolvency misuse by personal guarantors in govt cross hairs
Draft IBC amendments propose to remove 'perverse incentives'
 "Individual insolvency misuse by personal guarantors in govt cross hairs")
New amendments to bankruptcy code look to boost returns of stressed assets
IBBI had invited comments from the stakeholders to suggest if parts of stressed assets could be sold off instead of as a whole
 "New amendments to bankruptcy code look to boost returns of stressed assets")
Vijay Mallya loses bankruptcy petition amendment High Court battle in UK
A consortium of Indian banks led by the State Bank of India (SBI) on Tuesday moved a step closer in their attempt to recover debt from loans paid out to Vijay Mallya's now-defunct Kingfisher Airlines
 "Vijay Mallya loses bankruptcy petition amendment High Court battle in UK")
When broke, apply for bankruptcy, but process could be excruciating
Though the Insolvency and Bankruptcy Code, 2016 came into effect on December 2, 2016, and has rules for individual bankruptcy too, they have not been notified yet
 "When broke, apply for bankruptcy, but process could be excruciating")
Individual insolvency rules: Breach of personal guarantee is quite severe
The law can help keep a check on instances where loans are given not on the basis of the debtor's creditworthiness, but because of a personal guarantor
 "Individual insolvency rules: Breach of personal guarantee is quite severe")
Individual bankruptcy: Draft rules propose mediation over litigation
For the first time in India, debtors and operational creditors will be able to trigger insolvency once the individual insolvency code is notified
 "Individual bankruptcy: Draft rules propose mediation over litigation")
