Search Results for: assets of the Corporate Debtor

Role of Information Utility and NeSL in safeguarding Insolvency Process under the IBC

The NeSL was the first Information Utility service registered under the BBI Regulations, 2017 it is one of the three pillars of the IBC system.

Insolvency Process starts against Rohtas Projects

This article is all about the insolvency process which has been initiated which may include filing of claims, acceptance of claims, making of the committee of creditors and resolution plan

Invocation of guarantee during Moratorium

As per section 14 of the IBC 2016 and in the judgments it has been determined that during the moratorium period the invocation of guarantee against the ‘Company under Insolvency Proceedings/ CIRP.

Are Homebuyers Secured Financial Creditors or Unsecured Financial Creditors under IBC?

There has been no further clarification as to whether the home buyers are secured financial creditors or unsecured financial creditors, but in consideration of the recent developments, one thing is sure that the result will be in the interest of homebuyers only.

Admissibility of Insolvency Petition filed by a homebuyer

The application filed by the homebuyers under section 7 of IBC shall be maintainable. Therefore the homebuyers are advised to approach NCLT under IBC to recover their stuck money in a time-bound manner.

Move to increase efficiency of IBC: Renewal of NCLT Benches

Steps like the appointment of new judges and revamping the whole infrastructure of few NCLT benches shall prove to improve the current status of IBC cases being filed in the nation.

Withdrawal of admitted Insolvency process/petition Essar Steel Case

An insolvency petition admitted u/s 7, 9 or 10 can only be withdrawn by the appellant with approval from 90% of the creditors.

What happens once Insolvency application is admitted

What happens once the application by a financial creditor or operational creditor or by corporate applicant is admitted before the NCLT which under the code is termed as adjudicating Authority.

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.

Key Highlights on Insolvency and Bankruptcy Code, 2016

A detailed article on Key highlights of Insolvency and Bankruptcy Code, 2016 by Insolvency Professionals.

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.