Resolution plans, owing to their functional character have always been associated with their operational element, i.e. insolvency resolution of the corporate debtors.
Section- 14 of Insolvency and Bankruptcy Code, 2016 (hereinafter referred as the Code) provides for the imposition of moratorium once the application of insolvency is admitted and CIRP has been initiated by the order of Adjudicating Authority. During this moratorium period certain acts, enumerated u/s 14(1) of the Code, have been made to be prohibited. […]
A company has its own separate legal entity, distinct from its members, which affords it certain characteristic features. One such feature is that a company can enter into a contract in its own name and entitled to acquire contractual rights and obligations. It is pertinent to note that such contractual powers can be exercised by […]
