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Meenal Sharma

Latest Posts by Meenal Sharma

Basics of Insolvency and Bankruptcy Code, 2016

July 11, 2020 16896 Views 2 comments Print

Q 1. What is the difference between Insolvency and Bankruptcy? An entity (individual, or a company) becomes insolvent when they are unable to pay back their lenders on time. Simply, when the assets fall short to pay off the existing liabilities. Whereas, Bankruptcy is a legal declaration of one’s inability to pay their debts. On filing of […]

Section 10A in IBC 2016: No fresh insolvency for default during lockdown

July 9, 2020 3435 Views 0 comment Print

The President of India through Insolvency and Bankruptcy Code (Amendment) Ordinance, 2020 (No. 9 of 2020) on 5th June, 2020 announced some major relief for the corporate debtors as COVID 19 pandemic  owing to the  nationwide lockdown is in force since 25th March 2020 has resulted in disruption in business, financial markets and economy in […]

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