The Insolvency and Bankruptcy Board of India (IBBI) has proposed a two-part resolution plan structure to ensure the swift takeover of stressed firms without delay. The plan aims to prevent asset value erosion and streamline the resolution process. It also addresses the issue of distribution of resolution proceeds among stakeholders. The regulator has sought public comments on the proposed changes to regulations, including providing clarity on the entitlement of dissenting financial creditors and making the fair value of a stressed firm part of the information memorandum for potential suitors.
BSE Ltd surged to a lifetime high in Friday’s trading on the NSE after the exchange raised its share buyback price by more than 32% to ₹1,080. The increased share buyback price has added to optimism around the pick-up in the exchange’s derivatives business. Volumes in the exchange’s cash segment were also at a near two-year high in August, boosting investor interest in the stock.
