Defense by the Corporate Debtor
In case of financial creditor being an applicant to the insolvency process, an application would be made to Adjudicating Authority and a copy of such application would be sent to the corporate debtor.
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RERA or IBC-Under which law Homebuyers are well protected?
RERA or IBC- Both the laws provides with the subjective approach depending upon the facts of the case and the situation of the developer.
RERA and the IBC to the rescue of homebuyers
The IBC (Amendment) Bill 2017 was passed by the Lok Sabha to form the base for covering loopholes in prevailing code and to increase the effectiveness of the resolution.
Liquidation process of a Corporate Person
Liquidation of corporate person is considered to be the last resort in order to recover money. When all the plan of resolution have failed and no other way could be adopted then dissolution of company is done.
Homebuyers relief is a matter of concern for financial Institutions to lend to developers
The homebuyers have got a huge sigh of relief, and are finding it easier to get their money back which was a big deal before the enactment of IBC.
Insolvency Resolution and Liquidation for Corporate Person
This article discusses about the main components of this Code which forms the base of this very legislation.
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”.
Reliance Communications to face Insolvency Proceedings
Reliance Communications and its subsidiaries filed pleas in the appellate tribunal to set aside the NCLT’s decision to start insolvency proceedings.
Mobilox v Kirusa- Supreme Court interprets ‘existence of dispute’ as per IBC
The Supreme Court of India in Mobilox Innovations Private Limited v Kirusa Software Private Limited has finally settled the widely debated question of what constitutes “existence of a dispute”.
Debt Recovery Management- what to do if your debtor refuses to accept the notice?
Steps that can be initiated by corporate creditors against their debtors in case of default and when the debtor refuses to accept the notice and come to a settlement.
Corporate Insolvency Resolution Process (IRP)
The scheme as provided under the Code stipulates a mechanism wherein the Insolvency Resolution Process is reckoned upon any default upon non-payment of debt due.
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.
Banks can take advantage of the IBC to easy up their balance
The Reserve Bank of India has suggested banks to report for insolvency complaints on their very own rather than watching for its commands.
Treatment and Priority of EPFO dues under Insolvency and Bankruptcy Code, 2016 (“IBC”)
The provisions Insolvency and Bankruptcy Code, 2016 specifically provides for treatment for all sums due to any workman or employee from the provident fund, the pension fund and the gratuity fund. Further, in the present scenario there is much debate on the admissibility of the claim of EPFO under Sections 7Q and 14B for which … Continue reading “Treatment and Priority of EPFO dues under Insolvency and Bankruptcy Code, 2016 (“IBC”)”
Whether IBC prevails over Custom Act?
The IBC would prevail over The Customs Act, to the extent that once the moratorium is imposed in terms of Sections 14 or 33(5) of the IBC, as the case may be, the respondent authority has a limited jurisdiction to assess/determine the quantum of custom duty and other levies.
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