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RBA Glossary definition for insolvency

insolvency – A situation where an entity has insufficient assets to cover the value of its liabilities, resulting in an inability to meet its financial obligations as they fall due.

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Box A: The Recent Economic Slowdown in India

6 Feb 2020 SMP – February 2020
Authorities have also intervened directly in NBFCs: the government took control of IL&FS in 2018 and, in late 2019, the RBI removed the management of another NBFC and initiated insolvency
https://www.rba.gov.au/publications/smp/2020/feb/box-a-the-recent-economic-slowdown-in-india.html

Objectives and Types of Financial Regulation | Submission to the Financial System Inquiry – 6 September 1996 | Financial Sector |…

6 Sep 1996 Submissions
A number of financial institutions incurred significant losses and there were some insolvencies, but the damage was less than in the earlier two episodes. ... until too late) or shareholders (who might gamble on a risky project saving the company from
https://www.rba.gov.au/publications/submissions/financial-sector/financial-system-inquiry-1996/objectives-and-types-of-financial-regulation.html

International and Foreign Exchange Markets

5 Feb 2015 SMP - February 2015 PDF 969KB
https://www.rba.gov.au/publications/smp/2015/feb/pdf/intl-fx-mkts.pdf

Submission to the Financial System Inquiry - 6 September 1996 (Published as Occasional Paper No. 14)

25 Jul 2013 Submissions PDF 604KB
The value of these investments could fallwithout it implying insolvency for the managing institution. ... late) or shareholders (whomight gamble on a risky project saving the company from insolvency). •
https://www.rba.gov.au/publications/submissions/financial-sector/financial-system-inquiry-1996/pdf/financial-system-inquiry-1996.pdf