{"id":173931,"date":"2024-11-13T09:16:38","date_gmt":"2024-11-13T09:16:38","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/11\/13\/chasing-dubious-deals-can-boost-ibc-recovery-times-of-india\/"},"modified":"2024-11-13T09:16:38","modified_gmt":"2024-11-13T09:16:38","slug":"chasing-dubious-deals-can-boost-ibc-recovery-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/11\/13\/chasing-dubious-deals-can-boost-ibc-recovery-times-of-india\/","title":{"rendered":"\u2018Chasing dubious deals can boost IBC recovery\u2019 &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"400\" height=\"225\" src=\"https:\/\/i0.wp.com\/static.toiimg.com\/thumb\/msid-115229904,imgsize-558348,width-400,resizemode-4\/115229904.jpg?fit=400,225&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\u2018Chasing dubious deals can boost IBC recovery\u2019 &#8211; Times of India\" title=\"\u2018Chasing dubious deals can boost IBC recovery\u2019 &#8211; Times of India\" \/><\/div><p> <br \/>\n<\/p>\n<div data-articlebody=\"1\">\n<div class=\"_s30J clearfix  \">\n<div class=\"MwN2O\">\n<div class=\"T22zO\">\n<section class=\"D3Wk1  clearfix id-r-component leadmedia undefined undefined  VtlfQ\" style=\"top:0px\">\n<div class=\"D3Wk1\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"zPaFh\">\n<div class=\"wJnIp\"><\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<p>MUMBAI: Creditors to defaulting companies facing <!-- -->bankruptcy proceedings<!-- --> can improve their recovery by 10% by pursuing avoidance transactions, Ravi Mital, chairman of the <!-- -->Insolvency and Bankruptcy Board of India<!-- -->, said. <!-- -->Avoidance transactions<!-- --> are deals entered into by promoters of defaulting companies to siphon money before the bankruptcy proceedings.<br \/>During <!-- -->insolvency proceedings<!-- -->, the resolution professional managing the corporate entity on behalf of creditors is obliged to identify avoidance transactions. These include preferential, undervalued, extortionate or fraud deals entered into by the promoter where the benefit to the company is not seen.<br \/>As of Sept end, 1,326 avoidance transaction applications involving an amount of nearly Rs 3.8 lakh crore have been filed with the tribunals, which can order for the amount to be clawed back. \u201cThe IBC has led to a direct recovery of about Rs 3.6 lakh crore due to resolution and Rs 10,446 crore due to liquidation till Sept 2024. The recovery from avoidance transactions will add to this recovery by the creditors. Till Sept, 338 avoidance transaction applications had been settled by the AA, ordering a <!-- -->claw back<!-- --> of about Rs 7,516 crore,\u201d Mital said in an IBBI newsletter.<\/div>\n<\/div>\n<p><script>\nvar _mfq = window._mfq || [];\n_mfq.push([\"setVariable\", \"toi_titan\", window.location.href]);\n!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n         function setAttributes() {\n                    var prime_user_status = window.isPrime ? 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Avoidance transactions are deals entered into by promoters of defaulting companies to siphon money before the bankruptcy proceedings.During insolvency proceedings, the resolution professional managing the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":173932,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/static.toiimg.com\/thumb\/msid-115229904,imgsize-558348,width-400,resizemode-4\/115229904.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[135830,135829,1919,289,9006,135828,135827,2699,36894,56222,135826,273,56224,39572,135825,5880,272],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/173931"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=173931"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/173931\/revisions"}],"predecessor-version":[{"id":173933,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/173931\/revisions\/173933"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/173932"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=173931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=173931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=173931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}