Jurisdiction and Powers of NCLT
National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) were established due to the notification w.e.f. June 01, 2016, published by Ministry of corporate affairs.
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Delay under IBC not Acceptable
If anyone is looking to recover their debts in a time bound manner or resolution of the corporate debtor in a timely manner then IBC provides the necessary redressal.
Effect of Moratorium on Personal Properties of the Promoter given as Security
Only those properties in the name of the corporate debtor shall come under the purview of the moratorium and not the personal properties in the name of the corporate debtor.
Voluntary Liquidation under Insolvency and Bankruptcy Code, 2016
The voluntary winding up or voluntary liquidation, as the code defines, of the company can take place under section 59 of the IBC.
Difference between Insolvency and Bankruptcy
Insolvency is just the state where the financial inability is reached whereas the bankruptcy is the realization and announcement of that the state of being insolvent.
Liquidation under Insolvency and Bankruptcy Code
Earlier the winding up of the company was initiated and conducted under the Companies Act, 1956 while the same has got annulled after the advent of Insolvency and Bankruptcy Code.
Insolvency Application viz-a-viz Ongoing Arbitration Proceedings
An application under section 7 filed by the Operational Creditor is barred due to pending Arbitration Proceedings as the on-going arbitration proceedings signifies the pre-existence of dispute
Liabilities of the directors or Promoters or partners during or before the Insolvency Resolution Process
The powers of the management of controlling the assets of the Corporate Debtor or Company is transferred to the Resolution Professional or the liquidator as the case may be.
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.
Powers and Duties of Resolution Professional during Insolvency Process
The IBC has clearly outlined the powers and duties of the resolution professional that he can exercise during the insolvency resolution process
Insolvency and Resolution Process of Corporate Debtor
In this article we will precisely discuss about the conduct of insolvency process by corporate debtor who is also called as corporate applicant.
Insolvency and Bankruptcy Code, 2.0 can be expected to be introduced soon
The ministry of corporate affairs is readying what many believe to be IBC 2.0. The ordinance recommended by the Union Cabinet on Wednesday was part of the plan.
What are the Duties of Liquidator
The duties of liquidator have been elaborately mentioned in this article to make aware about his position as an Officer.
Liquidation of Corporate Person- A way to recover bad debts
In this article we have discussed about liquidation, its initiation, contents and when Adjudicating Authorities can pass an order for it.
Who and what is Interim Resolution Professional?
In this article we will elaborately discuss about an Interim resolution professional, his duties, eligibility and other aspects.
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