Search Results for: Insolvency and Bankruptcy Code

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.

Innoventive vs ICICI Bank- Supreme Court settles the law; Centre’s Insolvency Code to override all conflicting Acts

The judgement of the Supreme Court, in the case of Innoventive Industries vs ICICI Bank is a shot in the arm for the regime established under the Insolvency and Bankruptcy Code, 2016

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.

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.

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

Difference between Financial Creditor and Operational Creditor

The Insolvency and Bankruptcy Code (Amendment) bill 2017, describes the Financial Creditor and the Operational Creditor and the ambit of its applicability on creditor-debtor relationship.

Financial Creditor & Operational Creditor within the scope of Insolvency & Bankruptcy Code (Amendment) Bill, 2017

The IBC has introduced new and distinct concepts of ‘Financial Creditor’ and ‘Operational Creditor’ as opposed to the Companies Act, 2013 which merely introduced the term ‘creditor’, without any classification thereof.

Insolvency Bankruptcy Amendment Bill- Then and Now

A detailed article about the previous Insolvency and Bankruptcy law and changes that have been improvised post amendment bill in 2017.

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.

SEBI layout norms for Cos Undergoing Insolvency Proceedings

The regulator is planning to come out with a discussion paper on compliance with SEBI standards by listed companies undergoing insolvency resolution process.