Operational creditors under Insolvency and Bankruptcy Code, 2016 (IBC) are the ones who supply goods or services to the corporate debtor in exchange for operational debt. As per Section 5(20) of IBC, an “operational creditor” means a person to whom an operational debt is owed. Section 5(21) of IBC defines “operational debt” as

“a claim for the provision of goods or services, including employment, or a debt for the repayment of dues arising under any law for the time being in force and payable to the Central Government, any State Government, or a local authority.”

One of the major financial commitments is buying your own home. Unfortunately, in todays’ time, many homebuyers are facing situations where the Builders are unable to complete their Projects on time due to any reason whatsoever, and ends up into insolvency, leaving the homebuyers anxious about losing their investments. If you are also amongst such homebuyers, who are distressed by such a situation and are searching for the right path to get a resolution, you are at the right place.

The major challenges in the insolvency resolution of real estate companies arise from the peculiarities of this sector, especially since the divergent interests of the allottees of the real estate projects do not align with the scheme of the CIRP.

The fast-track CIRP is designed to expedite the insolvency process for smaller companies and enable their efficient restructuring or liquidation.

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

The issues that are adversely affecting the efficiency and effectiveness of the resolution process and for increasing the possibility of resolution, value of resolution plan, and ending timely resolution.

The Hon’ble Finance Minister stated that the scale and frequency of transactions in the VDA market made it necessary to legislate for a special tax structure.

In the past few decades, business leaders as well as philosophers came up with a new phenomenon which is Corporate Social Responsibility (CSR). Under CSR Businesses are responsible to the society that exists around them. And under CSR only it becomes their moral duty to safeguard that society and help that society to grow.

How a unit registered under MSME can recover the money as per the provisions of the Act? What are the liabilities of the buyer to make a payment towards the MSME registered unit?

Subvention schemes, brings to light incidents of harassment, and analyses how fraud continues to exist in the market despite regulatory interventions such as the NHB decision to end subvention schemes.

The reviewing court can reverse the original decision or amend it as needed. With the passing of time, the judiciary has been paving the way for clearing the doubt regarding the power to review and recall.

The offence of cheque bounce is punishable u/s 138 with a fine which can extend to twice the cheque amount or imprisonment for a term not exceeding 2 years.

Asset attachment by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA) is critical in combating money laundering and criminal activities.

MCA has specified the timeline to speed up the process of Fast Track Mergers. Earlier there was no time limit for Official Liquidators and Registrar of Companies to give objections and suggestions to the CG and CG to pass the confirmation order of the scheme of merger and amalgamation.

Cheque bounce is a criminal offence stipulated under Section 138 of the Negotiable Instruments Act, 1881. The aggrieved party can file a criminal as well as a civil case against the accused who must have had a legal obligation to repay the amount.