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INTERFACE BETWEEN IBC AND OTHER STATUTES
INTRODUCTION Section 238 of the code enumerates that “The provisions of this Code shall have effect, notwithstanding anything inconsistent therewith contained in any other law for the time being in force or any instrument having effect by virtue of any such law.” Section 238 is a non-obstante provision. It signifies that a clause or provision i...
INSOLVENCY RESOLUTION PROCESS FOR INDIVIDUAL
The provisions concerning the insolvency and bankruptcy of personal guarantors, including individuals and partnership firms, were officially announced on November 15, 2019, and became effective on December 1, 2019. Consequently, the insolvency proceedings of an individual guarantor of a corporate debtor will be governed by the Insolvency and Bankru...
What is a Resolution Plan under Insolvency and Bankruptcy Code, 2016
Introduction The Insolvency and Bankruptcy Code, 2016 (IBC) is an effective framework for the resolution of insolvency and bankruptcy in India. The code provides a comprehensive framework for the initiation of insolvency proceedings, the management of the insolvency process, and the resolution of insolvency. The code provides an effective and effi...
The Powers and Duties of Liquidator under Indian Bankruptcy Code, 2016
Introduction The Indian Bankruptcy Code, 2016 (IBC) was passed by the Parliament of India in May 2016 and is applicable to the whole of India. It is a comprehensive legislation that seeks to consolidate and amend the existing laws relating to insolvency and bankruptcy, and to provide for a uniform framework for the resolution of insolvency and bank...
Process of Initiation of Liquidation under Section 33 of the IBC Code, 2016
The Insolvency and Bankruptcy Code, 2016 (IBC) is a comprehensive piece of legislation enacted by the Government of India to facilitate the resolution of insolvency and bankruptcy related issues. Section 33 of the IBC Code provides for the initiation of liquidation of a company. This section outlines the process of initiation of liquidation and the...
What are the contents under Resolution Plan in IBC
Introduction The Insolvency and Bankruptcy Code, 2016 (IBC) has revolutionized the insolvency resolution process in India. IBC is a code that provides a comprehensive framework for insolvency resolution of companies and individuals. One of the key aspects of IBC is the resolution plan. A resolution plan is a plan proposed by an insolvency resoluti...
Role of an IRP in Insolvency Process under Insolvency and Bankruptcy Code, 2016
Introduction Insolvency and Bankruptcy Code, 2016 (IBC) has revolutionised the insolvency and bankruptcy laws in India. It has brought a much needed reform in the insolvency and bankruptcy resolution process in the country. The Code was enacted to consolidate and amend the existing laws related to insolvency and bankruptcy resolution. The Insolvenc...
Analysis of Landmark Judgments on IBC
Case 1: Sunil Kumar Jain v. Sundaresh Bhatt [Civil Appeal No. 5910 Of 2019, Decided on 19 April, 2022] Facts: In this case, the NCLAT had rejected an appeal made by the employees of ABG Shipyard Limited. They had been seeking relief for their claim of unpaid salary during the CIRP period and before. The NCLT had previously denied their claim, and...
Law related to IBC and how this law is affecting the financial and operational creditors and also the property buyer in case the builder files Insolvency
The Insolvency and Bankruptcy Code (IBC) was enacted in the year 2016, in response to the growing number of non-performing loans. Its objective was to create a comprehensive structure for resolving insolvency issues of corporations, partnership firms, and individuals within a set timeframe. The IBC acknowledges two types of creditors: financial cre...
Six Years of Insolvency and Bankruptcy Code- Success or Failure?
The Insolvency and Bankruptcy Code (IBC) was introduced in India in 2016 as a comprehensive legislation aimed at providing a time-bound process for resolving insolvency in businesses and individuals. The IBC aimed to improve the ease of doing business in India and boost investor confidence by providing a more predictable and transparent framework f...
LITIGATION FUNDING FOR AVOIDANCE OF PROCEEDINGS UNDER IBC
INTRODUCTION Third-Party funding is also known as Litigation funding is a method by which costs of legal proceedings are funded for the recovery of claims by those under financial stress. The individual or company funding the proceedings gets a portion of the recovery obtained through the proceedings instead of covering the costs for the claimant....
Critical analysis of the clean slate judgments under IBC
CRITICAL ANALYSIS OF THE CLEAN SLATE JUDGMENTS UNDER IBC The timely resolution and regeneration of corporate debtors is one of the main goals of the Insolvency and Bankruptcy Code, 2016 (the "Code"). Different resolution proposals are invited for this reason, and they are discussed before a final one is chosen. However, what if even after the p...
SUPREME COURT ON STATES ACTING AS SECURED CREDITORS UNDER IBC
In the recent Supreme Court case of State Tax Officer (1) v Rainbow Papers Limited, it was ruled that a notwithstanding provision imposing a statutory first charge on a dealer’s property for outstanding taxes, interest, or penalties is not contrary to or inconsistent with section 53 or any other provision of the Insolvency and Bankruptcy Code. The ...
Home Buyer’s in Insolvency Resolution Proceedings
INTRODUCTION: Insolvency Proceedings are initiated, when a debtor goes bankrupt. Bankruptcy is a situation, when a debtor is unable to pay back its creditors. Insolvency and Bankruptcy Code, 2016, is the law governing insolvency proceedings in India. A corporate insolvency resolution process can be initiated under section 7 & section 9 of Insolven...
Homebuyer's in Insolvency Resolution Process
INTRODUCTION: Insolvency Proceedings are initiated, when a debtor goes bankrupt. Bankruptcy is a situation, when a debtor is unable to pay back its creditors. Insolvency and Bankruptcy Code, 2016, is the law governing insolvency proceedings in India. A corporate insolvency resolution process can be initiated under section 7 & section 9 of Insolven...
Corporate Insolvency Resolution Application | Insolvency & Bankruptcy Code, 2016
INSOLVENCY & BANKRUPTCY REGIME IN INDIA A situation when a debtor is unable to be a creditor is referred to as insolvency. The legal process of resolution of insolvency is known as bankruptcy. Due to the rising rate of Non-Performing Assets in the banking sector, time-consuming insolvency resolution & law recovery rates, lending rates were usually...
Section 9 | IBC | If Principal and Interest both can be clubbed under Pecuniary Jurisdiction
INTRODUCTION: A notification from the Ministry of Corporate Affairs in the year 2020 just as the pandemic hit, changed the litigation regime under the National Company Law Tribunal thereafter. The notification increased the threshold limit of default from 1 lakh rupees to 1 crore rupees for filing applications under Part II of the Insolvency and B...
Ayan Mallick v Pratime Bayal | Joint auction under IBC and SARFAESI is permissible
CASE BRIEF ON - AYAN MALLICK V PRATIME BAYAL INTRODUCTION In the case of Ayan Mallick v. Pratime Bayal, the National Company Law Appellate Tribunal (NCLAT) Principal Bench, made up of Justice Ashok Bhushan and Ms. Shreesha Merla, upheld the NCLT's Kolkata decision that a joint auction permitted under the Insolvency and Bankruptcy Code, 2016 (IBC...
Insolvency and Bankruptcy | Success? | Failure?
IBC: SUCCESS OR A FAILURE? INTRODUCTION: With the evolution of the commercial laws and the codification of the Insolvency and Bankruptcy Code, 2016, India has come far away from its earlier position in the economic market. Within a short span of 5 years, the Code has made its hegemony in the market and stands out as the rule of law in the resolu...
Liquidation Under Insolvency and bankruptcy Code, 2016
LIQUIDATION PROCESS UNDER INSOLVENCY AND BANKRUPTCY CODE - AUTHOR ADVOCATE RAGHU VASISHTH INTRODUCTION: The term liquidation refers to closing the business operations of a company and selling off all the assets to its creditors and stakeholders. The process of liquidation ceases the company to exist in the eyes of law. The Insolvency and bankrup...
Why do we need the Insolvency and Bankruptcy Code?
WHAT IS INSOLVENCY AND WHAT IS BANKRUPTCY? Money or capital funds are essential for any business. A lot of businesses do not have the wherewithal to manage the finances of the business from their personal resources. For this reason, we have another player in the field - the lenders. Whenever a business fails or is unable to pay back what is owed t...
MentorHours on Recent Developments in Insolvency Law- Adv. Pramod Sachdeva
The bankruptcy code is a one stop solution for resolving insolvencies and offer an economically viable arrangement. The code aims to protect the interests of investors and make the process of doing business less cumbersome. Watch Adv. Pramod Kumar Sachdeva as he gives a clear picture about the ordinance and detailed explanation of Recent developmen...
Case Abstract & Analysis of Court- Dena Bank v. C. Shivakumar Reddy
CASE ABSTRACT 一 THE HON'BLE SUPREME COURT RECENTLY HELD IN DENA BANK V. C. SHIVAKUMAR REDDY THAT NON-PAYMENT OF AN AMOUNT AWARDED UNDER A DECREE, JUDGEMENT, OR ARBITRAL AWARD WOULD FALL UNDER THE DEFINITION OF "FINANCIAL DEBT" AND WOULD GIVE RISE TO A NEW CAUSE OF ACTION TO PRECEDE INSOLVENCY PROCEEDINGS UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2...
Contradiction in Winding Up- Companies Act,2013 & IBC,2016
In the case of State Bank of India v. Shakti Bhog Foods, the query, whether proceedings of IBC could commence post selection of the Official Receiver, is awaiting the judgment of the Supreme Court of India. The Supreme Court can use this case to resolve the wider question, whether a new resolution procedure in every Saved Petition must be permitte...
Impact of Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 on SMEs/ MSMEs #MentorHours with Adv. Abhinav Raghuvanshi
The President has promulgated Insolvency and Bankruptcy Code(Amendment) Ordinance 2021 to allow pre-packaged insolvency resolution process for corporate debtors classified as MSME under the Micro, Small and Medium Enterprises Development Act, 2006. Watch Adv. Abhinav Raghuvanshi as he gives a clear picture about the ordinance and detailed explanati...
Explainary Guide of Insolvency and Bankruptcy Code, 2016
PERSONAL INSOLVENCY OF CORPORATE GUARANTORS Insolvency and Bankruptcy Code of 2016 was enacted to bring uniformity to India’s bankruptcy laws. The parliament implemented law sights to de-clutter the necessitated pile of debts that were non-performing for ages, with the mechanism that is time-bounded, followed by strict deadlines. The consolidated ...
"Pre-packaged: Viable route" By Lawyered
CO-AUTHOR - DOLLY CHOUHAN Pre-pack is a viable insolvency tool wherein a new company comes into existence and buys the shares of an old, existing company which is then liquidated. The sale is made before a liquidator/administrator is assigned to make the sale, it is not the same as conventional company administration because in this method pre-neg...
"Suspension of Section 10 of the Insolvency and Bankruptcy Code, 2016" By Chetna Reddy
Background The outbreak of the coronavirus has brought upon us human suffering and significant economic costs. To mitigate the financial impact of the coronavirus pandemic and the subsequent lockdowns on small and medium businesses, the Government of India (“GoI”) introduced mitigating measures. The GoI not only increased the threshold of initiat...
Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 #QuoteUnquote by Adv. Prateek Mishra
The President has promulgated Insolvency and Bankruptcy Code(Amendment) Ordinance 2021 to allow pre-packaged insolvency resolution process for corporate debtors classified as MSME under the Micro, Small and Medium Enterprises Development Act, 2006. Watch Adv. Prateek Mishra as he gives a clear picture about the ordinance and detailed explanation of...
Insolvency Law
Bankruptcy determination in India took a long time on a normal. Typically, higher when compared to other nations such as United Kingdom (1 year) and United States of America (1.5 year). These delays could majorly be because of the unseen number of pending cases and the delay in resolving the issues at the court. What does the current Insolvency La...
#FoundersSpotlight on Concept of Bankruptcy with Adv. Jaydeep Mehta in association with NIT Hamirpur.
Lawyered is pleased to announce its new series #FoundersSpotlight [https://www.youtube.com/hashtag/foundersspotlight]. In this series, we bring together advocates and startup founders to discuss legal issues faced by entrepreneurs everyday and various strategies to overcome them. The pilot episode brings together Adv. Jaydeep Mehta, Designated ...
Money recovery under IBC #MentorHours by Adv. Prateek Mishra
Money recovery has always been a hot topic. Everyone tries to find a way to recover money from the debtor. Lawyered is pleased to announce its next session of #MentorHours [https://www.youtube.com/hashtag/mentorhours] on 'Money recovery under IBC' by Adv. Prateek Mishra who will explain the procedure of money recovery and what was the need of IBC ...
"Insolvency & Bankruptcy Code" By Prateek Mishra
DEFENDING AGAINST CLAIMS ASSERTING OPERATIONAL DEBT Insolvency and Bankruptcy Code, 2016 is evaluated as one of the greatest insolvency reforms in the history of India's economy. The enactment of the Act was for reorganization and insolvency resolution of partnership firms, corporate persons, and individuals in a time-bound system to maximise the ...
"Insolvency and Bankruptcy Code" By Sangeetha Narayanaswamy
The Insolvency and Bankruptcy Code, 2016 (IBC) is the liquidation law of India which looks to solidify the existing system by making a single law for indebtedness and insolvency. It was presented in the midst of different other changes presented by the Government, with a centred accentuation on the Ease of Doing Commerce in India. Ease of Doing Tra...
Can a interim resolution professional act as resolution professional? #AMALawyered by Adv A Arumugam
Lawyered [https://www.lawyered.in/admin/] presents Advocate Arumugam Arunachalam [https://www.lawyered.in/lawyer-profile/arumugam-arunachalam-5689/], in Ask-Me-Anything #AMALawyered [https://www.youtube.com/results?search_query=%23AMALawyered] series. Question: Can a interim resolution professional act as resolution professional? Lawyere...
Understanding The Insolvency And Bankruptcy Code, 2016
Authors: Rashi Suri (Managing Partner), Nandakishore A. (Legal Intern) Upscale Legal [https://upscalelegal.com/wp-content/uploads/2020/05/Upscale-Logo.png] The Insolvency and Bankruptcy Code (IBC) was introduced in 2016 to resolve all banking issues present in the economy by creating a one-stop solution which resolved insolvencies efficiently and...
Landmark Judgements on Insolvency And Bankruptcy Code By Harshvardhan Abburi
{This article focuses on: landmark judgements on ibc, landmark ibc cases, 40 important judgements on ibc, landmark ibc cases 2020, ibc latest judgements, nclt landmark judgements, ibc judgments, recent judgements on ibc} 1. Macquarie Bank Limited v. Shilpi Cable Technologies Limited (Supreme Court), Civil Appeal No. 15135 of 2017, decided on Decem...
The Government Is Practising Policy Narration: Vivek Kaul On India’s Banks And The Economy
By Aditi Das The Nirav Modi Extortion case, the Kingfisher imbroglio and the Punjab & Maharashtra Co-operative Bank debacle hit the features and left the masses and classes alike in a quagmire bringing to the fore the complex issue of Non-Performing Resources (NPAs) of banks. In 2018 Indian banks were reeling under the effect of unseemingly high r...
Conditions, Remedies For False/ Fake Cheque Bouncing Cases in India By Prime Legal
CONDITIONS, REMEDIES FOR FALSE/ FAKE CHEQUE BOUNCING CASES IN INDIA BY PRIME LEGAL Today, false and fake cases are more than genuine ones. Most of the Negotiable Instruments Courts are flooded and burdened with fake cheque bounce cases filed under Section 138 of the Negotiable Instruments Act 1881. The accused often get victimized for issuing a se...
#MentorHours by Lawyered on 'IBC: The Nexus Between IBC and Other Laws with Landmark Judgements'
Lawyered [https://www.lawyered.in/admin/] presents the next edition of #MentorHours which is part two of a two-part series on IBC. The theme for this session is ''IBC: The Nexus Between IBC and Other Laws with Landmark Judgements'. The webinar was conducted by Ms. Somya Singh [https://www.lawyered.in/lawyer-profile/somya-singh-1812/], Advocate - A...
#MentorHours by Lawyered on 'IBC: Story of its Origin, Latest Amendments and the Covid-19 Impact'
Lawyered [https://www.lawyered.in/admin/] presents the next edition of #MentorHours which is part one of a two-part series on IBC. The theme for this session is 'IBC: Story of its Origin, Latest Amendments and the Covid-19 Impact'. The webinar was conducted by Ms. Somya Singh [https://www.lawyered.in/lawyer-profile/somya-singh-1812/], Advocate - A...
Insolvency proceedings under IBC
INSOLVENCY PROCEEDINGS UNDER IBC Process of Resolution and Liquidation of Corporate Debtors and a few provisions that a creditor needs to know before approaching the NCLT Author : Ramasamy Santhanakrishnan Insolvency process under ibc have always been an important tool for the protection of the rights of investors in a corporate entity. In ...
National Company Law Tribunal
Author - Dushyant Tiwari The National Company Law Tribunal (NCLT) was established under the Companies Act 2013 and was constituted on 1 June 2016 by the Government of India and is based on the recommendation of the V. Balakrishna Eradi committee on law relating to the insolvency and the winding up of companies. The NCLT acts as a quasi-judicial au...
Your view on Jet Airways which enters bankruptcy process & gets 270 days for resolution #AMALawyered by Advocate Rajendra Beniwal
Lawyered [../../../../../] presents Advocate Rajendra Beniwal [../../../../../lawyer-profile/rajendra-beniwal-1728/], Founding Partner - Karma Law Associates, in Ask-Me-Anything #AMALawyered [https://www.youtube.com/results?search_query=%23AMALawyered] series by Lawyered. Situation: What is your view on Jet Airways which enters bankruptcy process...
How will I get my jet airways refund #AMALawyered by Advocate Rajendra Beniwal
Lawyered [../../../../../] presents Advocate Rajendra Beniwal [../../../../../lawyer-profile/rajendra-beniwal-1728/], Founding Partner - Karma Law Associates, in Ask-Me-Anything #AMALawyered [https://www.youtube.com/results?search_query=%23AMALawyered] series by Lawyered. Situation: Lawyered [https://lawyered.in/] - On a mission to help people ...
Process for proceedings and role of NCLT by Advocate Rajendra Beniwal #AMALawyered
Lawyered [../../../../../] presents Advocate Rajendra Beniwal [../../../../../lawyer-profile/rajendra-beniwal-1728/], Founding Partner - Karma Law Associates, in Ask-Me-Anything #AMALawyered [https://www.youtube.com/results?search_query=%23AMALawyered] series by Lawyered. Situation: What is the process for the proceedings and the role of the Nati...
How Indian Bankruptcy Code work & how it help NPA problem by Advocate Rajendra Beniwal #AMALawyered
Lawyered [../../../../../] presents Advocate Rajendra Beniwal [../../../../../lawyer-profile/rajendra-beniwal-1728/], Founding Partner - Karma Law Associates, in Ask-Me-Anything #AMALawyered [https://www.youtube.com/results?search_query=%23AMALawyered] series by Lawyered. Situation: How does the Indian Bankruptcy Code work, and how would it help ...
Should IBC be suspended for short period for industries by Advocate Sanjiv Dagar #AMALawyered
Lawyered [../../../../../] presents Advocate Sanjiv Dagar [../../../../../lawyer-profile/sanjivdagar-273/], Managing Partner - Legajoist, in Ask-Me-Anything #AMALawyered [https://www.youtube.com/results?search_query=%23AMALawyered] series by Lawyered. Situation: Should the Insolvency and Bankruptcy Code (IBC) be suspended for a short period for s...
Bankruptcy: A Frightening Topic. Don't Face It Unprepared
Author - Divyam Agarwal WHAT IS BANKRUPTCY? Bankruptcy comes in the picture when an organization is unable to pay their financial obligations. A bankruptcy filing is a legal process initiated by the company where they free themselves from debt obligations. In India, filing bankruptcy does not go well with the credit ratings. That means it would ...
Should IBC suspended for sectors that are severely impacted due to Covid-19 #AMALawyered
Lawyered [../../../../../] presents Advocate Saurabh Upadhyay [../../../../../lawyer-profile/saurabh-upadhyay-1804/], Founder - Upadhyay & Co., in Ask-Me-Anything #AMALawyered [https://www.youtube.com/results?search_query=%23AMALawyered] series by Lawyered. Situation: Should the Insolvency and Bankruptcy Code (IBC) be suspended for a short period...
Debt Recovery Via NCLT
Author - Aarti Bhalla Recovery proceedings against debt are essential. Thus, for that one can approach the National Company Law Tribunal (NCLT) which utilizes the authority to dispose the cases under the Insolvency and Bankruptcy Code. Default is normally the non-payment of debt when the whole or any part of the deferred payment of debt amount ha...
Operational Debt And Creditors under IBC | Meaning & Laws
OPERATIONAL DEBT AND CREDITORS UNDER IBC Author - Santosh Pandey The Insolvency and Bankruptcy Code, 2016 (IBC) is amongst dynamic legislations, being interpreted by courts to expand its ambit and possibly would provide maximum benefit to both the financial and operational creditors having long outstanding dues. NCLAT has upheld that statutory du...
Litigation Process and Asset Distribution under the IBC
Upscale Legal [http://www.upscalelegal.com/wp-content/uploads/2020/01/UPSCALE-LOGO.png] Author - Advocate Rashi Suri (Managing Partner) LITIGATION The term Litigation is used to describe initiated proceedings between opposing parties to enforce or defend a particular legal right. Typically, a Litigation is settled by arbitration/ agreement b...
#AMALawyered by Advocate Ishanee Sharma -When a company files for bankruptcy, what happens to outstanding cash payments owed to employees?
Lawyered [../../../../../] presents Advocate Ishanee Sharma [../../../../../lawyer-profile/ishanee-sharma-2253/], on Insolvency and Bankruptcy Code #IBC [https://www.youtube.com/results?search_query=%23IBC] in Ask-Me-Anything #AMALawyered [https://www.youtube.com/results?search_query=%23AMALawyered] series by Lawyered. Situation: When a company f...
#AMALawyered When a company files for bankruptcy, what happens to outstanding cash payments owed to employees? by Advocate Ishanee Sharma
Lawyered [../../../../../] presents Advocate Ishanee Sharma [../../../../../lawyer-profile/ishanee-sharma-2253/], on Insolvency and Bankruptcy Code #IBC [https://www.youtube.com/results?search_query=%23IBC] in Ask-Me-Anything #AMALawyered [https://www.youtube.com/results?search_query=%23AMALawyered] series by Lawyered. Situation: When a company f...
Insolvency and Bankruptcy Code, 2016
Author - Advocate Kaviyanathan D. O. INTRODUCTION An Act to consolidate and amend the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximization of value of assets of such persons, to promote entrepreneurship, availability of credit and balance the int...
Bankruptcy Can Be A Frightening Topic. Don't Face It Unprepared
Author - Associate Shereen Abdin Bankruptcy is a state in the life of an individual or any entity when they are not able to repay the loans they have taken against their property. Bankruptcy is a method debtors take recourse to in order to seek relief from some of their debts. Debtors initiate the court to declare them bankrupt and thus save them ...
Analysis of Judgment of the Supreme Court upholding the legality and constitutionality of Section 5(8)(f) of IBC, 2016 By Devesh Saxena
Author - Advocate Devesh Saxena This judgment is seen as a major win for the homebuyers, who will now not only be allowed to invoke the Code but will also be a part of the committee of creditors with the same footing as banks and other financial institutions. This will certainly put an embargo which will act as a deterrent upon the fraudulent real...
Litigation Process And Asset Distribution Under IBC
Autor - Advocate Vikas Mehta Associate Zarmeen Jahan The Insolvency and Bankruptcy Code 2016 ("Code") was instituted so as to unite and alter the laws identifying with rearrangement and indebtedness goals of corporate people, constrained risk organizations, association firms and people in a period headed way for augmentation of estimation of advan...
Legal Remedies For Entrepreneurs In Debt
Author - Associate Aashi Agrawal “Not everyone who walks through darkness makes it out”. Entrepreneurship costs a lot from a human being, sometimes to could also be life. There exists a psychological relationship between entrepreneurship and mental health. In news lately, all of us must have heard that the founder of the famous Cafe Coffee Day c...
SRS GROUP - EBIZ.COM - NCR DASTAK
Noida's ebiz.com company has accused the director of SRS Group of fraud of crores. The company made a press conference at the Gymkhana Club in Sector 15 and made these allegations against SRS director JK Garg.
SC upholds the IBC amendment of 2018
SC UPHOLDS THE IBC AMENDMENT OF 2018: DECLARES IT NON-ARBITRARY TO TREAT HOMEBUYERS AS FINANCIAL CREDITORS Author - Associate Shereen Abdin A bench consisting of Justices R.F. Nariman, Surya Kant, and Sanjiv Khanna passed a judgment titled ‘Pioneer urban land and infrastructure ltd. and Anr vs. Union of India’. This judgment states that the amend...
Debt Recovery Tribunal | Powers & Functions of DRT
DEBT RECOVERY TRIBUNAL - POWERS & FUNCTIONS AUTHOR - ADVOCATE PRAVEEN KUMAR AND ASSOCIATE KANTIKA MUKHERJEE Banks and financial institutions were facing a very strange problem of recovering loans which they have given to any individual or business organizations. Because of this reason, the banks and financial institutions have been restraining t...
What Is The Bankruptcy Code?
Author - Associate Aliza Abdin Bankruptcy is a legal term which is used to describe a person or an entity which is no longer sufficient enough to pay off its creditors. The process of bankruptcy usually starts with a petition, which is filed by the debtor that he can no longer pay off his debts. After that all of the debtor’s properties, assets an...
Insolvency And Bankruptcy Code 2016 - Key Points by Advocate Pallavi Parmar
Author - Advocate Pallavi Parmar The World Bank's Ease of Doing Business report states that it takes an insolvency case more than four years on an average to get resolved in India. A person, closer to the grass-root level, would confirm the period to be more than that. Keeping such a situation in view, the Government of India overtook a plan and ...
Caution - Guarantor Wears Hat Of Borrower by Advocate Nitin Jain
Author - Advocate Nitin Jain and Associate Nupur Mehrotra Introduction Today, the concept of taking loans i.e. borrowing funds from banks or financial institutions has become very common. Borrower and guarantor are the important stakeholders in the entire process of borrowing money and repaying it. A borrower is an individual who obtains money f...
Advanced Certificate on Insolvency and Bankruptcy Code by Advocate Sanjiv Dagar
[https://lh5.googleusercontent.com/m23sXn1LBXB3gjwIF-r3rqqI0Z1aYj5t8fqkJirDObjEsqrcNL4r5_RkKLZinoONfbm7VSdSdNj-WBhi1qAdz5a5HJ2JVYvHQkl35ITxuieB8ywgaPmAfTF87fYPaf9R8Y2kP5Oq] For more details, visit - student.lawyered.in [http://student.lawyered.in/] and follow instructions Advanced Certificate Course on Insolvency and Bankruptcy Sanjiv Dagar | Cer...
Key Features of Insolvency and Bankruptcy Code 2016 in India
KEY FEATURES OF INSOLVENCY AND BANKRUPTCY CODE OF INDIA, 2016 AUTHOR: ADVOCATE KHYATI DHUPARR AND ASSOCIATE RISHIMA RAWAT. INTRODUCTION In layman's terms, ‘Insolvency’ is a situation where an individual or organization has more debts than available assets and is unable to meet its immediate obligations. ‘Bankruptcy’ on the other hand is a leg...
Filing for Bankruptcy? Keep These Things in Mind
Filing for Bankruptcy? Keep These Things in Mind Bankruptcy is a legal status of a person or organization who are not capable of repaying their debts. However, it is not the only status that an insolvent person may have. In most cases, bankruptcy is imposed by jurisdiction and is often initiated by the debtor(s). Hire top corporate lawyers for be...
Basic Difference Between Insolvency and Bankruptcy
Basic Difference between Insolvency and Bankruptcy Basic Difference between Insolvency and Bankruptcy|Bankrupt or Insolvent which lead to which| What is the difference between Insolvency and Bankruptcy? In Insolvency Vs Bankruptcy under the Insolvency and Bankruptcy Code, 2016 - We keep hearing words that sound the same, day in and day out. But ...
Insolvency Petition Procedure in India | How to Declare Insolvency
HOW TO FILE INSOLVENCY PETITION IN INDIA { THE ARTICLE DISCUSSES ABOUT THE IMPORTANCE/ADVANTAGES OF LIMITED LIABILITY PARTNERSHIP (LLP) } IMPORTANCE/ADVANTAGES OF LIMITED LIABILITY PARTNERSHIP (LLP) First, understand the difference between Private Limited Vs. Limited Liability Vs. One Person Company [https://www.lawyered.in//legal-disrupt/arti...
All you need to know about Cross Border Insolvency
All you need to know about Cross Border Insolvency Cross border insolvency is simply the treatment of financially distressed debtors who have assets or creditors in more than one country. Also known as international insolvency, cross border insolvency is also concerned more with the companies that exist across borders. The Ministry of Corporate ...
Legal compliance and the IBC corporate law
The Indian government is poised to instill confidence in the falling real estate market through their mandated legal compliance of the Insolvency & Bankruptcy Code (IBC). In a move to protect homebuyers, the government is cracking down on debt-ridden real estate corporations, the latest of which is the Jaypee Group. The Jaypee Group is a conglomer...
Insolvency & Bankruptcy Code: In Simpler Words
INTRODUCTION TO THE CODE As the name suggests the insolvency and bankruptcy code aims at establishing a single, unified, uniform law to solve issues related to the insolvency and bankruptcy of firms. The code was introduced into the parliament in 2016 and the provisions of the code came into force on 19th August 2016. The code is an amendment in t...
Where Are We Moving With The Insolvency & Bankruptcy Code?
IS IT JUST ANOTHER PIECE OF LEGISLATION? Why is there so much of noise around this new piece of law called the Insolvency and Bankruptcy Code 2016? Is it all because it tightens its noose, and aims at curbing the existing loopholes – a threat to the defaulters and a boon for the lenders? Let’s take it one by one. The Insolvency and Bankruptcy Cod...