Defense by the Corporate Debtor
In case of financial creditor being an applicant to the insolvency process, an application would be made to Adjudicating Authority and a copy of such application would be sent to the corporate debtor.
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Who all are Operational Creditors
operational creditors are those creditors where liabilities arise from transactions on operations.
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.
Supreme Court protect interests of Homebuyers in Jaiprakash Infratech Limited case
Home buyers who had invested in housing projects by JIL, were permitted by the Interim Resolution Professional (IRP) to submit their claims as ‘other creditors’, subordinate to financial and operational creditors of JIL.
Revival of Struck off Companies
Section 248(1) of Companies Act 2013 provided for suo moto power of ROC to struck off the company name If registrar has reasonable cause to believe.
New IBC Ordinance effect on RERA
The purpose and the objective for Enacting IBC is different as Compared to RERA Act, which explicitly focuses in resolving land sector disputes.
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.
Defaulting promoters cannot make backdoor entry in cases filed before Ordinance 2017 was passed
The government has made it clear that it doesn’t want any defaulting promoters back until they clear their dues.
65 Bad Loan Accounts have been referred to NCLT for resolution by Allahabad Bank
Insolvency Code has motivated a lot of lenders to suo moto move the court against their borrowers and recover their bad debts without showing any further leniency.
NCLT and NCLAT to work throughout the summers without taking any break
The IBC is playing a crucial role in helping the banks recover their bad debts and these vacations if avoided can help in resolving the mounting cases and help in ease of doing business.
One homebuyer alone can proceed against the builder to Bankruptcy Court
President Ram Nath Kovind has given his nod to promulgate an ordinance amending the insolvency law, recognising homebuyers as financial creditors to real estate developers.
IBC latest amendments have helped small stakeholders but delayed the process
The latest ordinance has brought about a lot of changes to the IBC giving relief to small stakeholders and homebuyers but this relief has caused delays in executing the process.
Plea for stay of resolution of Binani Cement rejected by the Supreme Court
The Supreme Court rejected an appeal by Dalmia Bharat , one of the bidder who lost out to UltraTech Cement in the second round of bidding, to stay the resolution process of Binani Cement.
Promoters abusing IBC, contends stakeholders of TechPro and Educomp
The IBC in section 29A bars promoters to take part in bidding process thus making them ineligible for representation in the committee of creditors.
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