Search Results for: protect the Corporate Debtors interests

Understanding the interpretation of the Insolvency and Bankruptcy Code, 2016

Interpreting the Insolvency and Bankruptcy Code 2016 and sheds light on its significance in shaping the insolvency and bankruptcy landscape in India.

Prevalence of IBC over the SARFAESI Act

The Adjudicating Authorities have affirmed the IBC’s goals through a series of judgments and further proved its prevalence over the other laws of land.

Outstanding payments to allottees in Real Estate Projects are Financial Debts

The Supreme Court did not agree to the payment of amounts deposited by the promoter to homebuyers on the grounds that it would be preferential payment to one class of creditors.

Supreme Court on constitutional validity of the Insolvency and Bankruptcy Code, 2016

IBC is economic legislation and that when it comes to economic legislation, flexibility should be given to the legislature because no economic law can be fool proof at its inception.

Contradictions between The RERA and IBC

The IBC recognizes homebuyers under financial creditors to protect their rights even when a creditor, other than a homebuyer, invokes insolvency proceedings against the builder.

LokSabha Clears Heavily Contested IBC Amendment Bill 2020

The LokSabha passed the IBC (Second Amendment) Bill 2019, which was first introduced by the Finance Minister Nirmala Sitharaman on 12 December 2019.

New IBC Amendments in work likely to benefit creditors in cases of Cross Border Insolvency

The IBBI has disclosed that work is in progress to amend the IBC to make it compliant with cross border insolvency processes.

Recognition of Home Buyers as Financial Creditors under IBC

Home buyers are vital stakeholders in building projects. Many home buyers book their property in advance which helps builders raise funds for construction and development of the project.

Liabilities of the directors or Promoters or partners during or before the Insolvency Resolution Process

The powers of the management of controlling the assets of the Corporate Debtor or Company is transferred to the Resolution Professional or the liquidator as the case may be.

Should Home Buyer under RERA be given preference under Insolvency And Bankruptcy Code, 2016

IBC and RERA Act, enacted in 2016, appear to be pitted against each other as far as protecting the interests of bankers and home buyers are concerned.