"Mr. Vishnu Tandi is a Corporate Lawyer and currently working in IDBI Bank as Legal Officer. Before Joining IDBI, he has worked in Tamilnad Mercantile Bank as law officer and in the National Company Law Tribunal, Chennai and Jaipur Benches as Law Research Associate. He has a rich experience and expertise in matters pertaining to Companies Act and Insolvency & Bankruptcy Code (IBC) and other aspects of Business and Corporate Laws in India. He is Gold Medalist and Post Graduate in Corporate Law. He is also the founder of LEXKHOJ Publications. He has been awarded as ‘Budding Achiever’ by International Institutional Organisation during Bharat Leadership Festival at Patna. He has also been awarded by the Indian National Bar Association. "
Explore the impact of the Rainbow Papers case on secured creditors’ priority in the Insolvency and Bankruptcy Code (IBC) and the future of India’s insolvency regime
Since our country’s financial system is predominantly bank-based, non-performing Assets (NPA) of Banks have significant impact on the country’s GDP. NPAs also generate a vicious cycle of effects on the sustainability and growth of the banking system, and if not managed properly could lead to bank’s failure. Mounting NPA is a serious concern for all […]
The battle with COVID-19 is not only to save the country and its people but also to ensure that the banking channels are working round the clock to cater to the needs of the public as well as financial market. Needless to say, that banking system is the backbone of any country and its failure […]
On occurrence of default in repayment of financial debt of a company or LLP, the financial creditor either by itself or jointly with other financial creditors, or any other person on behalf of the financial creditor, as may be notified by the Central Government can file an application for initiating corporate insolvency resolution process(CIRP) against the company or LLP (In IBC say, corporate debtor) before the Adjudicating Authority(NCLT).
As per the statutory requirement of Insolvency and Bankruptcy Code, 2016, a resolution plan for bankrupt Essar Steel was to be found within 270 days, but here even after 500 days, there seems to be no end in sight as a consortium of lenders led by State Bank of India has filed a petition before the Supreme Court […]
Revival of the stressed company may be the primary objective of the Code, but official data show that more companies have gone for liquidation in the new regime so far than the resolution as lenders have failed to endorse any viable plan for their revival. According to the data available on the IBBI website, till the end of June 2018, total 1547 applications for the Insolvency Resolution were filed out of which 977 applications had been admitted into resolution process and of which 91 were closed on appeal or review. Data further reveals that till 30th June 2018, total 136 companies yielded liquidations while only 34 companies achieved resolution.
