bankruptcy code

Voluntary Liquidation under IBC 2016

Corporate Law - Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II Voluntary Liquidation under IBC 2016 A New Beginning The Central Government has, on 30 March 2017, notified, inter alia, Section 59 of the Insolvency and Bankruptcy Code, 2016 (Code) which deals with voluntary liquidation of corporate entities with eff...

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Operational Creditor – NCLT Decision

Corporate Law - In this Flash editorial, the author begins by referring provisions of Insolvency & Bankruptcy Code, 2016. Provision of Insolvency and Bankruptcy Code, 2016 came into effect for from December 2016....

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Analysis of IBC (Removal of Difficulties) Order 2017

Corporate Law - The Government on 24th May 2017 released the Insolvency and Bankruptcy Code (Removal of Difficulties) Order, 2017 making additions in the Eighth Schedule of the Code, which originally amends the Sick Industrial Companies (Special Provisions) Repeal Act, 2003 (SICA), in order to clarify the matter in view of the repeal of the Sick Industri...

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Insolvency and Bankruptcy: The Road Ahead

Corporate Law - The Insolvency and Bankruptcy Code is a transformational piece of legislation as it seeks to establish an ecosystem for handling Insolvency & Bankruptcy issues. The Code received Presidential Assent on 28th May, 2016 when the landmark Bill introduced in the Lok Sabha in November 2015 finally became an Act. ...

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Some key features of Insolvency and Bankruptcy Code -2016

Corporate Law - Insolvency and Bankruptcy Code -2016 amend the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximization of value of assets of such persons,...

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IBBI constitutes Working Group to implement IBC, 2016

Corporate Law - The Insolvency and Bankruptcy Board of India has constituted a Working Group for recommending the strategy and approach for implementation of the provisions of the Insolvency and Bankruptcy Code, 2016 to deal with insolvency and bankruptcy in respect of (i) Guarantors to Corporate Debtors, and (ii) Individuals having Business, and draftin...

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Insolvency Professional without Certificate of Registration?

Corporate Law - IBC Code read with the Regulations allow only a person having the required qualification and experience to be enrolled as a member of an IPA and thereafter registered as an IP with the IBBI. Only such a person can act as IP and render services as an IP under the Code. ...

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Insolvency Professionals to act as Interim Resolution Professionals (Recommendation) Guidelines, 2017

Corporate Law - Section 16 (3)(a) of the Insolvency and Bankruptcy Code, 2016 (Code) requires the Adjudicating Authority (AA) to make a reference to the Insolvency and Bankruptcy Board of India (Board) for recommendation of an insolvency professional (IP) who may act as an interim resolution professional (IRP) in case an operational creditor has made an ...

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IBBI constitutes Committee to lay down Technical Standards

Corporate Law - The Insolvency and Bankruptcy Board of India (IBBI) constitutes Technical Committee to lay down Technical Standards for the performance of core services and other services under IBBI (Information Utilities) Regulations, 2017...

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IBBI Draft regulations for Fast Track Resolution process for Eligible Corporate Persons

Corporate Law - Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II IBBI invites public comments on Draft regulations for Fast Track Resolution process for Eligible Corporate Persons The Ministry of Corporate Affairs had set up four Working Groups to facilitate implementation of the Insolvency and Bankruptcy Code, 2016...

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Petition under IBC 2016 cannot be withdrawn by mutual settlement: NCLT

Re. Parker Hannifin India Private Limited (NCLT Kolkata) - After admission of Petition under IBC 2016, the nature of petition changes to representative suit and the lis does not remain only between Operational Creditor and Operational Debtor. Therefore, Operational Creditor and Operational Debtor alone have no right to withdraw the Petition after admission....

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IBBI (Inspection and Investigation) Regulations, 2017

Notification No. No. IBBI/2017-18/GN/REG011 - (12/06/2017) - (1) These regulations may be called the Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017. (2) These regulations shall come into force on the date of their publication in the Official Gazette....

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IBBI Fast Track Insolvency Resolution Process for Corporate Persons Regulations, 2017

IBBI/2017-18/GN/REG 012 - (14/06/2017) - An insolvency professional shall be eligible to be appointed as a resolution professional for a fast track process of a corporate debtor if he, and all partners and directors of the insolvency professional entity of which he is a partner or director, are independent of the corporate debtor....

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Cabinet clears Bill to deal with crisis in banks, insurers

Press Release No. PIB Release/DL/981 - (14/06/2017) - The Financial Resolution and Deposit Insurance, Bill 2017 when enacted, will pave the way for setting up of the Resolution Corporation. It would lead to repeal or amendment of resolution-related provisions in sectoral Acts as listed in Schedules of the Bill....

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Insolvency and Bankruptcy Code (Removal of Difficulties) Order, 2017

S.O. 1683(E) - (24/05/2017) - In the Insolvency and Bankruptcy Code, 2016, in the Eighth Schedule, relating to amendment to the Sick Industrial Companies (Special Provisions) Repeal Act, 2003, in section 4, in clause (b), after the second proviso, the following provisos shall be inserted, namely:—...

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Govt notifies few provisions related to voluntary liquidation or bankruptcy

S.O. 1570(E) - (15/05/2017) - Central Government hereby appoints the 1st April, 2017 as the date on which the provisions of clause (a) to clause (d) of section 2 of the Code relating to voluntary liquidation or bankruptcy shall come into force....

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Recent Posts in "bankruptcy code"

IBBI constitutes Working Group to implement IBC, 2016

The Insolvency and Bankruptcy Board of India has constituted a Working Group for recommending the strategy and approach for implementation of the provisions of the Insolvency and Bankruptcy Code, 2016 to deal with insolvency and bankruptcy in respect of (i) Guarantors to Corporate Debtors, and (ii) Individuals having Business, and draftin...

Read More
Posted Under: Corporate Law |

IBBI (Inspection and Investigation) Regulations, 2017

Notification No. No. IBBI/2017-18/GN/REG011 (12/06/2017)

(1) These regulations may be called the Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017. (2) These regulations shall come into force on the date of their publication in the Official Gazette....

Read More

Insolvency Professional without Certificate of Registration?

IBC Code read with the Regulations allow only a person having the required qualification and experience to be enrolled as a member of an IPA and thereafter registered as an IP with the IBBI. Only such a person can act as IP and render services as an IP under the Code. ...

Read More
Posted Under: Corporate Law |

Petition under IBC 2016 cannot be withdrawn by mutual settlement: NCLT

Re. Parker Hannifin India Private Limited (NCLT Kolkata)

After admission of Petition under IBC 2016, the nature of petition changes to representative suit and the lis does not remain only between Operational Creditor and Operational Debtor. Therefore, Operational Creditor and Operational Debtor alone have no right to withdraw the Petition after admission....

Read More
Posted Under: Corporate Law | |

IBBI Fast Track Insolvency Resolution Process for Corporate Persons Regulations, 2017

IBBI/2017-18/GN/REG 012 (14/06/2017)

An insolvency professional shall be eligible to be appointed as a resolution professional for a fast track process of a corporate debtor if he, and all partners and directors of the insolvency professional entity of which he is a partner or director, are independent of the corporate debtor....

Read More

Cabinet clears Bill to deal with crisis in banks, insurers

Press Release No. PIB Release/DL/981 (14/06/2017)

The Financial Resolution and Deposit Insurance, Bill 2017 when enacted, will pave the way for setting up of the Resolution Corporation. It would lead to repeal or amendment of resolution-related provisions in sectoral Acts as listed in Schedules of the Bill....

Read More

Voluntary Liquidation under IBC 2016

Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II Voluntary Liquidation under IBC 2016 A New Beginning The Central Government has, on 30 March 2017, notified, inter alia, Section 59 of the Insolvency and Bankruptcy Code, 2016 (Code) which deals with voluntary liquidation of corporate entities with eff...

Read More
Posted Under: Corporate Law |

Operational Creditor – NCLT Decision

In this Flash editorial, the author begins by referring provisions of Insolvency & Bankruptcy Code, 2016. Provision of Insolvency and Bankruptcy Code, 2016 came into effect for from December 2016....

Read More
Posted Under: Corporate Law |

Insolvency Professionals to act as Interim Resolution Professionals (Recommendation) Guidelines, 2017

Section 16 (3)(a) of the Insolvency and Bankruptcy Code, 2016 (Code) requires the Adjudicating Authority (AA) to make a reference to the Insolvency and Bankruptcy Board of India (Board) for recommendation of an insolvency professional (IP) who may act as an interim resolution professional (IRP) in case an operational creditor has made an ...

Read More
Posted Under: Corporate Law |

Analysis of IBC (Removal of Difficulties) Order 2017

The Government on 24th May 2017 released the Insolvency and Bankruptcy Code (Removal of Difficulties) Order, 2017 making additions in the Eighth Schedule of the Code, which originally amends the Sick Industrial Companies (Special Provisions) Repeal Act, 2003 (SICA), in order to clarify the matter in view of the repeal of the Sick Industri...

Read More
Posted Under: Corporate Law |
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