The lease premium and rent given to the Corporate Debtor are not included in Section 14(1)(D) of the Insolvency and Bankruptcy Code, 2016.
the Resolution Professional could have included their claims as liabilities to the Corporate Debtor in the Information Memorandum created in accordance with Regulation 36 of the Corporate Insolvency Resolution Process (CIRP) Regulations.
Pre-pack mechanism, differs from the existing corporate insolvency resolution process (CIRP) and what challenges this new mechanism is likely to bring.
Corporate Insolvency Resolution Process (CIRP) cannot be initiated against government undertakings as it will defeat the very purpose of the provisions stated in article 12 of the constitution of India.
A financial creditor(s) may file an application for initiating CIRP u/s 7 of IBC against a corporate debtor when a default has occurred.