Search Results for: operational creditor under the Insolvency and Bankruptcy Code.

Maintaining the balance of interests of all the creditors

It is to be understood that the objective of IBC is not to provide benefit only to selective creditors but to protect the interests of all the stakeholders.

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.

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 proceedings by Allottee/Homebuyer

The insolvency and bankruptcy code, 2016 has seen many ups and downs since the enactment but out of all the most long and debatable topic or issue concerning law was pertaining to the rights of Home buyers/Allottee under the code.

National Company Law Tribunal recommends review of Insolvency Code

The NCLT has suggested to IBBI that there is a need to review the insolvency code regulations to ensure that they are not “misused or misinterpreted”.

Application for initiation of corporate insolvency resolution process by operational creditor (section 9)

In this article we have discussed about how an Operational creditor can file an application for initiation of Corporate Insolvency Process against it debtors.

Insolvency Resolution by Operational Creditor (Section 8)

An operational creditor as defined under s 5(20) of the Insolvency and Bankruptcy Code as a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred

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.