Post by: Renu Suresh in Insolvency
Voluntary Liquidation of Corporate Persons Voluntary Liquidation of a Company in India is administered under Section 59 of Chapter V of Insolvency and Bankruptcy Code, 2016 and it applies to a corporate person. The voluntary liquidation process applies when the…
Post by: Renu Suresh in Insolvency
Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Amendment Regulations 2022 The Insolvency and Bankruptcy Board (IBBI) vide notification dated 5th April 2022 has notified the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Amendment Regulations 2022. This new…
Post by: Renu Suresh in Insolvency
Pre-packaged Insolvency Resolution Process (PPIRP) Application Procedure The Insolvency and Bankruptcy Board of India (IBBI) notified the rules for the recently announced pre-packaged insolvency resolution process. Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 has been introduced to provide a pre-packaged…
Post by: Renu Suresh in Insolvency
Pre-Packaged Insolvency Process for MSME The Insolvency and Bankruptcy Board of India (IBBI) on April 04, 2021, has issued the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021. The ordinance will allow a pre-packaged insolvency resolution process for MSMEs. A pre-packaged…
Post by: poonamgandhi in Insolvency
Pre-packaged insolvency scheme under IBC Presently, the Insolvency and Bankruptcy Code (from now on referred to as IBC) provides a time-bound and market-linked resolution framework. Further, the National Company Law Tribunal (from now on referred to as NCLT) must approve…
Post by: Drishti Saxena in Insolvency
Operational Creditors: Benefits and Disadvantages Under IBC, 2016 The Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “The Code”) made the status of creditors of a corporate debtor clear from the beginning. The Code provides for two broad classifications…
Post by: Drishti Saxena in Insolvency
Analysis of Insolvency and Bankruptcy Amendment Ordinance 2020 The Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “The Code”) was amended on June 5, 2020, through promulgation by the President of India. The widespread of the pandemic COVID-19 has…
Post by: Drishti Saxena in Insolvency
Section 10 A - Suspending IBC proceedings until further notice Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “The Code”) was implemented over four years back. Since then, it has also been amended three times. The Code has been…
Post by: Drishti Saxena in Insolvency
Resolution Professional Corporate Insolvency Resolution Process (hereinafter referred to as “CIRP”) is a system incorporated in the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “The Code”). In this, a corporate debtor that has defaulted in making payments to…
Post by: Drishti Saxena in Insolvency
Distribution of liquidated assets under Insolvency & Bankruptcy Code The fundamental principles that underline the legislative nature of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “The Code”), are in three parts; To reach a resolution on default…
