Search Results for: resolution professionals

ARBITRATION AGREEMENTS IN UNSTAMPED CONTRACTS

Section 7 of the Arbitration and Conciliation Act, 1996 defines an arbitration agreement as “an agreement by the parties to submit to arbitration all or certain disputes which have arisen or which may arise between them in respect of a defined legal relationship, whether contractual or not.

How to take maximum benefit from RERA as a Homebuyer and as a builder?

RERA was established to do away with project delays, malpractice, and irregularities in norms and increase transparency and accountability from builders and homebuyers both.

FUTURE OF MEDIATION IN INSOLVENCY PROCEEDINGS

Being the least expensive and less time-consuming, Mediation is popular ADR in India. The mediator plays the role of a neutral party who helps the parties to have direct communication and assists in exploring the options and a mutually accepted agreement.

Artificial Intelligence and Insolvencies

Machine learning, deep learning, artificial neural networks, rule-based expert systems, and natural language processing are a few examples of artificial intelligence technologies employed in worldwide insolvency and bankruptcy processes.

Interim Finance – A Source of Operational Funding under IBC

interim finance can be raised by the resolution professional appointed by the National Company Law Tribunal (NCLT). The resolution professional is authorized to raise interim finance after obtaining approval from the Committee of Creditors (CoC).

NCLT Prescribes Dress Code for Members, Lawyers, RP, Authorized Representatives & Parties in Person

NCLT specified the dress code for NCLT President, NCLT Members, Legal Practitioners, Authorized Representatives, Interim Resolution Professional, Liquidator, Resolution Professional, and parties present in person.

Proposed Amendment by the Ministry of Corporate Affairs

Proposed Amendments in a circular issued on 18.01.2023, the Ministry of Corporate Affairs has proposed numerous changes in IBC.

Landowner in a development agreement cannot be considered a Financial Creditor

The Corporate Debtor would carry on construction and out of total saleable construction 32% will be of landowner and remaining 68% will be of the Corporate Debtor.

Housing Discrimination: A Myth or a Never-Ending Struggle?

No person shall be discriminated against because of their race, sex, caste, color, or religion. Article 21 of the constitution, under its various interpretations, also includes the ‘right to housing’ or ‘right to shelter’ as an individual’s fundamental right.

Benefits of Arbitration

Though arbitration has various advantages over traditional litigation but it is important to consider all of the options when preparing to initiate arbitration.

Voluntary Liquidation

IBBI changed the liquidation procedure to be of a fixed duration. The new rules require the process to be completed within one year of its inception.

CoC is empowered to consider revised financial offers keeping in mind the time limit set out by law: NCLAT

The NCLAT had to decide whether the NCLT/CoC may provide resolution applicants repeated chances to alter their individual resolution plans and whether the CoC was authorised to entertain fresh or revised resolution plans without exhausting available bids.