Corporate Insolvency Resolution Process (IRP)
The scheme as provided under the Code stipulates a mechanism wherein the Insolvency Resolution Process is reckoned upon any default upon non-payment of debt due.
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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.
Banks to deal with Nirav Modi, NPAs and rising yields
As one of the most eventful quarters for banks comes to a close, lenders’ balance sheets are hit by a triple whammy that could take them a while to recover.
Robust Insolvency Bankruptcy Laws to deal with bad Loans
The latest amendment bill of Insolvency & Bankruptcy, 2017 has been passed by the Lok Sabha to deal with recovery and reorganization in a speedy, reliable process.
Legal Remedies for Recovery of Loan
In this article we will briefly cover the legal remedies one can resort to against their debtors in case there is default in paying the loan amount.
How to file suit for recovery in India?
For companies, partnership firm, proprietorship firm and traders etc., can file a suit for recovery of their unpaid bills/ Business due amount or payment where there are any written contract/agreement between the parties.
Lanco lenders to searching for time extension to complete insolvency process
The committee of lenders (COC) of LancoInfratech (LIPL) determined to are searching for an extension of time from National Company Law Tribunal (NCLT) to complete the continuing insolvency decision process as the lenders need to have a full clarity on feasible situations of decision. “The COC had held a meeting on Monday and determined to … Continue reading “Lanco lenders to searching for time extension to complete insolvency process”
Why closing-in-queue creditors report maximum insolvency lawsuits in India
Indiaʹs new financial disaster law is getting most traction from an uncommon set of lenders, people with the least to benefit from pushing corporations into the insolvency process. Operational or unsecured creditors, who have dues that are not backed via any collateral, might be los angeles st in queue to be repaid once an insolvency … Continue reading “Why closing-in-queue creditors report maximum insolvency lawsuits in India”
Banks can take advantage of the IBC to easy up their balance
The Reserve Bank of India has suggested banks to report for insolvency complaints on their very own rather than watching for its commands.
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