NPA War: The major buyout of debt-ridden Bhushan Steel by a Tata Group company and many more to come under the Narendra Modi-led government’s IBC reform.

The old and archaic provisions to deal with sickness arising out of financial difficulties have been replaced by Insolvency and Bankruptcy Code, 2016.

An Insolvency and Bankruptcy Board of India (IBBI) will be established. This Board (IBBI) will oversee the work of Insolvency and Bankruptcy of corporate persons, firms and individuals.

The RBI’s February 12 circular on non-performing loans has stirred a hornet’s nest. Banks, India Inc and even the government are opposed to it and are vigorously lobbying the central bank

The duties of liquidator have been elaborately mentioned in this article to make aware about his position as an Officer.

Their powers are extensive and under their purview the liquidation process of a corporate person is carried out.

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.

In this article we have briefly discussed about how replacement of resolution professional as liquidator is carried out.

In this article we have discussed about liquidation, its initiation, contents and when Adjudicating Authorities can pass an order for it.

Amongst the 11 high profile case under the purview of Insolvency Code, Essar Steel has attracted a lot of attention.

Detailed article about the management of affairs of corporate debtors by IRP and about their authority.

In this article we will elaborately discuss about an Interim resolution professional, his duties, eligibility and other aspects.

Cheers to NCLT’s efforts for effectively complying with IBC and be able to resolve eigth high profile insolvancy cases within a year.

Once NCLT has issued moratorium under section 14 of Insolvency Code in respect of Company in liquidation, Bank cannot pursue proceedings for recovery of loan.

A article on how to rectify defects if any in the application for initiation of Corporate Insolvency Resolution Process along with case laws.