Search Results for: operational debt into financial debt

Insolvency Process Versus Liquidation

Confused between the Insolvency Process & Liquidation? The procedure and differences between Insolvency Process and Liquidation is explained.

What constitutes a “Dispute” under the IBC as per the Supreme Court?

The Supreme Court clarified the code’s object while keeping legislative intent in mind. The court, through this judgement, has struck a balance between creditors’ rights and debtor companies’ remedies.

Supreme Court: Personal Guarantor Liable for Loans under IBC

The Supreme Court of India has cleared the way for lenders to file insolvency proceedings against personal guarantors of stressed companies, who are typically promoters.

THE INSOLVENCY AND BANKRUPTCY CODE, 2016: AN OVERVIEW

IBC was introduced to reorganise, restructure or to consolidate the existing framework into a single law for the purpose of Insolvency and Bankruptcy.

Formation and composition of the committee of creditors under IBC, 2016

The Committee of Creditors (CoC) is the preeminent dynamic body in a Corporate Insolvency Resolution Process (CIRP). Choices with respect to the organization of the corporate borrower are taken at the gatherings of the Committee, in light of a dominant part vote of the individuals.

COMMITTEE OF CREDITORS (CoC) under IBC : FROM BEGINNING TO END

The Committee of Creditors (CoC) has complete wisdom and right to decide the fate of the company under CIRP. Lets understand all about Committee of Creditors under Insolvency Laws

Claims, not part of Resolution Plan, gets exhausted

No further legal action shall be permissible by creditor, whose claim has been rendered unsatisfied as per the resolution plan.

Resolution Plan under IBC

Resolution applicants enter the CIRP and prepare “Resolution Plans,” which are effectively instruments for taking over a corporate debtor, paying its creditors’ debts, and completing its recovery and restructuring.

IBC vs SARFAESI Act

The IBC is favoured over the SARFAESI Act, primarily because it offers a quick solution and is also effective in reviving the company and safeguarding the interests of all stakeholders.

How to choose your Interim Resolution Professional (IRP) for Insolvency Process

an Insolvency Professional having all the aforementioned requirements may be chosen as An IRP for the corporate debtor. However it may have an advantage over other IRP if the person had already dealt in that specific industry being an RP/IRP.

Covid-19 Impact on the Insolvency Bankruptcy Code

In response to the damage done to the economy the Indian Government has placed certain embargoes and granted certain grace periods to help reduce the financial strain caused by the complete shutdown of the economy this includes the three month moratorium that has been given by the RBI regarding payments of EMI.

Insolvency plea cannot reject if the dispute is raised on telephonic communication: Allahabad NCLT

A notice of dispute to a claim under the IBC (Section 9), 2016 is not admissible if made over a telephonic communication and not supported by phone records. 

Homebuyers approach parliamentary committee against ordinance infringing their rights to approach NCLT

Forum for People’s Collective Efforts, has approached the parliamentary standing committee on finance with its objection to a proposed amendment to the Insolvency and Bankruptcy Code.

When Resolution Plan can be challenged by the aggrieved Person

The resolution plan can be challenged by an aggrieved person as per the grounds mentioned in Sub-Section (3) of Section 61 of the Code.

Recovery of Money in a Speedy Manner

Money matters are a sensitive issue for everyone involved in the business as nobody would want to leave or lose their hard-earned money like that.