Amount paid towards lease of immovable property not an Operational Debt- NCLAT
Claims towards rent of leasehold property do not fall within the definition of the operational debt in terms of Section 5(21) of the Insolvency and Bankruptcy Code, 2016.
Search Results for: debt recovery
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.
How Insolvency can be initiated by corporate debtor against itself?
How can a corporate person file for insolvency? the insolvency process for section 10 application, the fees, documents required and other details required to file such an insolvency petition.
Recovery under SEBI cannot take place during the moratorium period
Under section 14 of the code, the moratorium order is passed. Accordingly till the time moratorium period exists no other action or suit or case or proceedings against the corporate debtor can take place.
Section 12A of IBC: A welcome move for the corporate debtor
The Adjudicating Authority may allow the withdrawal of application admitted under section 7 or section 9 or section 10 on an application made by the applicant.
Recovery of Money through Insolvency Laws
If any company is not making the payment as per agreed terms, then an insolvency petition may be filed u/s 7 or 9 based upon the facts, before NCLT to initiate the insolvency proceedings.
India winning NPA War steadily- Bhushan Steel puts Rs.36,400 crore in Bank, a way to recovery
NPA War: The major buyout of debt-ridden Bhushan Steel by a Tata Group company and many more to come under the Narendra Modi-led government’s IBC reform.
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.
What further action can be taken by operational creditor on non-payment of debt?
This article is about the further actions to be taken by the Operational creditor after serving a demand notice on Operational debtor.
Is it mandatory to serve demand notice on corporate debtor?
Demand notice means a notice served by an operational creditor to the corporate debtor demanding repayment of the operational debt in respect of which the default has occurred.
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.
Corporate Debt Restructuring
Based on the experience in other countries restructuring of corporate debt and need for a similar mechanism in India, a Corporate Debt Restructuring System was evolved, and detailed guidelines were issued.
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.
Now Bank will be able to Start the loan recovery Process before 90 Days
A senior government official said that recent amendments in banking rules will help bank solve the problem of debt deferred soon. According to RBI regulations, if the amount of any loan amount is more than 90 days, then it becomes non-performing.
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