IBBI

Fast Track Insolvency Process of Corporate Person (Chapter IV of Part II of the Code)

Corporate Law - Fast Track Insolvency Process of Corporate Person (Chapter IV of Part II of the Code) SECTION 55 -58 OF THE INSOLVENCY AND BANKRUPTCY CODE, 2016, READ WITH IBBI (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017 CHAPTER II, PART II OF THIS CODE (Procedural Manner) CHAPTER VII, PART II OF THIS CODE (Offence...

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Review of RBI directive regarding provisioning on debts referred to NCLT under IBC 2016

Corporate Law - Code will facilitate early, transparent and fair resolution of liquidity problems. Hence, the position of lenders under the Code is much better compared to earlier laws as discussed above. Therefore, there is no justification whatsoever in RBI directive to banks to create provision of 50% of the outstanding debt at the time of application...

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IBC 2016: A Resolution Mechanism or Recovery Tool or Both

Corporate Law - We have a unique law in the name of Insolvency and Bankruptcy Code -2016 in force in whole of India except part 111 shall not extend to the state of Jammu and Kashmir. This Act is called a code and not an Act because it is a compendium of many acts meaning thereby with this code has caused the repeal of many acts...

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Over Riding Effect of IBC Code on Other Acts

Corporate Law - In this Flash editorial column, the author begins by referring the provisions of Insolvency and Bankruptcy Code, 2016 in relation to section 238 of IBC Code, 2016....

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Treatment of Real Estate “Advance”- NCLT- Insolvency Code

Corporate Law - In this Flash editorial column, the author begins by referring the provisions of Operational & Financial Creditor of Insolvency and Bankruptcy Code, 2016 in relation to Treatment of Advance for Real Estate Project....

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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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IBBI announces Second Edition of Limited Insolvency Examination

Corporate Law - The Board specifies the syllabus, format and frequency of the Limited Insolvency Examination under regulation 3(3) of Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 as under:...

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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 - 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. The Working Group 3 had a mandate to deliberate and submit its recommendations on rule...

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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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IBBI notifies debtors for fast track corporate insolvency resolution process

Notification No. S.O. 1911 (E) - (14/06/2017) - Central Government hereby notifies that an application for fast track corporate insolvency resolution process may be made in respect of the following corporate debtors under section 55 of the Insolvency and Bankruptcy Code, 2016...

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IBBI notifies Fast Track Insolvency Resolution Process

Notification No. S.O.1910(E) - (14/06/2017) - Central Government appoints 14th day of June, 2017 as date on which provisions of section 55 to 58 (both inclusive) of Insolvency and Bankruptcy Code, 2016 shall come into force....

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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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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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Recent Posts in "IBBI"

Fast Track Insolvency Process of Corporate Person (Chapter IV of Part II of the Code)

Fast Track Insolvency Process of Corporate Person (Chapter IV of Part II of the Code) SECTION 55 -58 OF THE INSOLVENCY AND BANKRUPTCY CODE, 2016, READ WITH IBBI (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017 CHAPTER II, PART II OF THIS CODE (Procedural Manner) CHAPTER VII, PART II OF THIS CODE (Offence...

Read More
Posted Under: Corporate Law |

Review of RBI directive regarding provisioning on debts referred to NCLT under IBC 2016

Code will facilitate early, transparent and fair resolution of liquidity problems. Hence, the position of lenders under the Code is much better compared to earlier laws as discussed above. Therefore, there is no justification whatsoever in RBI directive to banks to create provision of 50% of the outstanding debt at the time of application...

Read More
Posted Under: Corporate Law |

IBC 2016: A Resolution Mechanism or Recovery Tool or Both

We have a unique law in the name of Insolvency and Bankruptcy Code -2016 in force in whole of India except part 111 shall not extend to the state of Jammu and Kashmir. This Act is called a code and not an Act because it is a compendium of many acts meaning thereby with this code has caused the repeal of many acts...

Read More
Posted Under: Corporate Law |

Over Riding Effect of IBC Code on Other Acts

In this Flash editorial column, the author begins by referring the provisions of Insolvency and Bankruptcy Code, 2016 in relation to section 238 of IBC Code, 2016....

Read More
Posted Under: Corporate Law |

Treatment of Real Estate “Advance”- NCLT- Insolvency Code

In this Flash editorial column, the author begins by referring the provisions of Operational & Financial Creditor of Insolvency and Bankruptcy Code, 2016 in relation to Treatment of Advance for Real Estate Project....

Read More
Posted Under: Corporate Law |

Time Limits under IBC are Mandatory

In this Flash editorial column, the author begins by referring the provisions of Insolvency and Bankruptcy Code, 2016 in relation to Times Lines given under IBC Code, 2016....

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Posted Under: Corporate Law |

Mandatory Filing of Certificate from Financial Institution in case of Operational Creditor – NCLT – Insolvency Code

In this Flash editorial, the author begins by referring the provisions of Section 9(3) (c) of IBC, 2016 in relation to Certificate from Financial Institution. Since the code come into effect from December 2016 all the applicants/ creditors have begun to file applications under the Code. ...

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Posted Under: Corporate Law |

Notice at registered office of borrower is mandatory for initiation of insolvency process – NCLT – Insolvency Code

In this Flash editorial, the author begins by referring the provisions of rules 4 of Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 in relation to Deliver of Notice at registered office of Corporate Debtor....

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Posted Under: Corporate Law |

Insolvency and Resolution and Liquidation for Corporate Persons

In this article, the author specifically discusses the Section 4 to 32 of Chapter I of Part II of the Insolvency and Bankruptcy Code, 2016 dealing with INSOLVENCY AND RESOLUTION AND LIQUIDATION FOR CORPORATE PERSONS....

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Posted Under: Corporate Law |

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 |
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