Insolvency Resolutions: A special case for MSMEs
The government has introduced the pre-packaged insolvency resolution process (PPIRP) for MSMEs, which allows them to initiate an insolvency process with the approval of two-thirds of their creditors.
Search Results for: insolvency and bankruptcy processes
Artificial Intelligence and Insolvencies
Machine learning, deep learning, artificial neural networks, rule-based expert systems, and natural language processing are a few examples of artificial intelligence technologies employed in worldwide insolvency and bankruptcy processes.
Analysis of the Pre-Packaged Insolvency Resolution Process and its advantages as compared to the CIRP
The Pre-Packaged Insolvency Resolution Process (PPIRP) mechanism have helped the MSMEs to a great extent in order to revive their operations as a going concern.
Pre-packaged Insolvency Resolution Process
the Insolvency Law Committee in 2020 constituted a sub-committee to study Pre-packaged Insolvency Resolution Process (PPIRP). On the basis of this subcommittee’s recommendations, the Insolvency and Bankruptcy Code was amended on 4/4/2021 through an ordinance to bring effect to this change.
Insolvency and Bankruptcy Code (Amendment) Bill, 2021
The Code was enacted in 2016 to consolidate and amend the laws governing corporate reorganization and insolvency resolution for corporations, partnerships, and individuals.
Economic Survey: Insolvency and Bankruptcy Code dramatically reduced time for resolution of Stressed Assets
Laws relating to IBC that caused inadequate and ineffective results with undue delays has proven its success by a dramatic reduction for resolution of stressed assets at an average of 340 days as compared 4.3 years in the era before the IBC as per the most Economic Survey.
All about RBI diktat in invoking Insolvency Resolution
Reserve Bank of India Governor Urjit Patel put his signature to a historic order for recovering over Rs 3 lakh crore from the top 12 defaulters, just 10% is in banks
RBI’s February 12 bankruptcy circular has been challenged by PSU Bankers’ union
Reserve Bank of India’s (RBI’s) controversial February 12 circular that bankruptcy proceedings will kick in 180 days.
President approves Insolvency & Bankruptcy Code (Amendment) Ordinance, 2018
A big relief to homebuyers and promoters and now they can be an equal part of the CoC, as the President also has given his assent to the Ordinance effecting amendments in insolvency code.
Insolvency Resolution and Liquidation for Corporate Person
This article discusses about the main components of this Code which forms the base of this very legislation.
Insolvency and Bankruptcy Code, 2.0 can be expected to be introduced soon
The ministry of corporate affairs is readying what many believe to be IBC 2.0. The ordinance recommended by the Union Cabinet on Wednesday was part of the plan.
Gemini’s bankruptcy petition stands rejected before NCLT
The National Company Law Tribunal has dismissed an insolvency application filed by Gemini Innovations, raising doubts over the “unnatural” facts listed by the company in its filing
Insolvency Resolution by Operational Creditor (Section 8)
An operational creditor as defined under s 5(20) of the Insolvency and Bankruptcy Code as a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred
IBC against NBFC
The IBC’s applicability to NBFCs is a welcome legislative effort, and the new rules have extended the RBI’s role in performing an NBFC’s CIRP.
Survival Beyond RP Tenure: NCLT Authority in Avoidance Proceedings
The Insolvency and Bankruptcy legislation is a comprehensive legislation that contains all of the required provisions for providing a haven for business debtors in difficulty.
join For Updates