Proceed to NCLT for recovery of dues under Insolvency & Bankruptcy Code
To initiate recovery procedure one can approach the National Company Law Tribunal which exercises the power to dispose cases under Insolvency Code.
Search Results for: recovery of the dues
Land Allotment Cancellation over Non-Payment of Dues, Red Alert for the Developers
the Yamuna Expressway Industrial Development Authority had cancelled the allotment of ‘Panorama’ in Sector 22A over non-payment of dues of Rs 46.8 crore.
Harassment by Recovery Agents
Harassment by the bank and agents are situation which makes an individual suffer through mental and sometimes physical damage too. Keeping such situation in mind a conduct is been laid for the agents to perform under.
Recovery of Money in a Speedy Manner
Money matters are a sensitive issue for everyone involved in the business as nobody would want to leave or lose their hard-earned money like that.
Recovery of Money through Insolvency Laws
If any company is not making the payment as per agreed terms, then an insolvency petition may be filed u/s 7 or 9 based upon the facts, before NCLT to initiate the insolvency proceedings.
2100 companies have settled bank dues of rupees eighty three thousand crore under IBC
The ministry of corporate affairs showed that over 2,100 companies have cleared their outstanding amounts, a majority of which came after the government amended the IBC.
UPRERA issued recovery notice for not complying with RERA orders
UP RERA recently took a massive step by issuing recovery notice against 5 builders who failed to abide by the orders made by the Authority.
UPRERA: Recovery from the builders for not complying with the RERA orders
Real Estate (Regulations and Development) Act, 2016 came into force on 1st of May in 2017, to cleanup the mess in the Indian Real Estate Sector.
Appointment of Liquidator and his fees- Recovery of bad debts
Liquidation of Corporate Persons can also be considered as an effective method of recovering bad dues. Lately Insolvency Code has taken a trend in the business sector.
ICRA- Indian Telecom still lagging behind to recover their dues
ICRA today expressed its opinion that the revival of the Indian Telecom industry is likely to be prolonged and the pressure on the cash flows of the industry may continue for a few more quarters.
Ericsson vs. Aircel- The former moves to Delhi High Court to recover dues
Swedish telecom equipment manufacturer Ericsson has moved to Delhi High Court against Aircel and its units to get their debts back worth Rs.251.40 crore
Debt Recovery Procedures in India
The fact is that all those who default don’t do it intentionally but your money is important so is recovery of bad debt, which is owed to your company by your debtor.
Legal Remedies: Debt Recovery in India
Outsource your work to debt recovery management organizations who while maintaining the harmony of your business relations will realize your debts with their expertise.
The Corporate Guarantor can initiate CIRP against the Corporate Debtor under “Right to subvention”
Proceeding against the Corporate Debtor for the recovery of the dues and hence can file a petition against the Corporate Debtor under Section 7 of the Insolvency and Bankruptcy Code, 2016 before the Adjudicating Authority.
Whether IBC prevails over Custom Act?
The IBC would prevail over The Customs Act, to the extent that once the moratorium is imposed in terms of Sections 14 or 33(5) of the IBC, as the case may be, the respondent authority has a limited jurisdiction to assess/determine the quantum of custom duty and other levies.
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