SARFAESI Act

SARFAESI Act The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest (SARFAESI) Act, 2002, is an Indian regulation which was enforced in the year 2004. SARFAESI was created to allow banks and financial institutions to auction properties…

Debt Recovery Tribunal

Debt Recovery Tribunal Debt Recovery Tribunals were created to facilitate the speedy recovery of debt payable to banks and other financial institutions by their customers. DRTs was set up after the passing of Recovery of Debts due to Banks and…

Corporate Insolvency Resolution Process

Corporate Insolvency Resolution Process Insolvency of corporate persons deals with the insolvency of a corporate bodies like a private limited company or limited company. This section deals with insolvency resolution process of a corporate debtor is known as the corporate insolvency…

Insolvency and Bankruptcy Code, 2016

Insolvency and Bankruptcy Code, 2016 With the multiple overlapping laws and adjudicating forums that dealt with financial failure and insolvency of companies, individuals, partnerships and other entities in the country, the legal and institutional framework did not support lenders effectively…

How to Become an Insolvency Professional

How to Become an Insolvency Professional To improve the process for insolvency resolution, the Insolvency and Bankruptcy Board of India was established on October 1, 2016 in accordance with the provisions of The Insolvency and Bankruptcy Code, 2016. The Insolvency and…

Cross Border Insolvency and Bankruptcy

Cross Border Insolvency and Bankruptcy Cross-border insolvency, which is also known as international insolvency, regulates the treatment of financially distressed debtors where such debtors have assets or creditors in more than one country across globe. When the Bankruptcy Code was first unveiled…

Insolvency and Bankruptcy Board of India

Insolvency and Bankruptcy Board of India Since its constitution, the Insolvency and Bankruptcy Board has issued draft rules on the regulation of insolvency professionals (IPs) and insolvency professional agencies (IPAs) to handle bankruptcy issues in India. In this article, we look…

Acts of Insolvency

Acts of Insolvency The personal insolvency laws in India are designed to address the case of an individual who is not able to pay his/her debts. The aim of the personal insolvency laws in India are to protect the insolvent…