bankruptcy code

Insolvency & Bankruptcy Code – New Law on Horizon Of India

Corporate Law - This law which I am going to discuss is mainly for the benefit of Individual to Corporate Sector who are dealing with the Corporate Sector i.e. Public Limited Companies, Private limited Companies & Limited Liability Partnerships( LLPs)....

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Timelines in Corporate Insolvency Resolution Process under Insolvency and Bankruptcy Code, 2016

Corporate Law - Part II of Insolvency and Bankruptcy Code, 2016 deals with insolvency resolution and liquidation for corporate persons. The actual work will be mostly handled by 'resolution professional' under supervision of NCLT...

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The Interim Insolvency Resolution Professional’s ‘Russian Roulette’

Corporate Law - The Insolvency and Bankruptcy Code 2016 (Code), which became law in May 2016, is looked upon by both the business and the professionals with a lot of expectations. It is natural that like many new things, this code too is to settle down and it is one of its kinds. ...

Read More

An easy understanding of Insolvency & Bankruptcy code 2016

Corporate Law - The Insolvency and Bankruptcy Code, 2016 (the Code) passed by the Lok Sabha on 5th May 2016 seeks to provide a framework for time-bound settlement of insolvency by formulating a survival mechanism or by ensuring speedy liquidation through a formal insolvency resolution process (IRP)...

Read More

Insolvency and Bankruptcy Code, 2016 -A Critical Analysis

Corporate Law - This article makes a critical analysis of Insolvency and Bankruptcy Code, 2016 (IBC in short) by highlighting the key parts of the Code and assess its likely impact on the Indian debt market and what does the new Code contain and how effective will it be in promoting the efficient and timely resolution of insolvent entities?...

Read More

IBBI invites public comments on two Draft Insolvency rules

Corporate Law - IBBI invites public comments on (i) Draft Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Individuals and Firms) Rules, 2017, and (ii) Draft Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Individuals and Firms) Regulations, 2017 by 31st October, 2017. ...

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IBBI amends regulations: Resolution Plan shall include a statement as to how it has dealt with interests of all stakeholders

Corporate Law - Amendments to the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 and the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017 The Insolvency and Bankruptcy Board of India (IBBI) has amended the Insolven...

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Tax on any gain to firms under insolvency code under hair cut be waived: ASSOCHAM to Govt.

Corporate Law - ASSOCHAM has written to the government, seeking a slew of tax reliefs, including exemption from tax on any hair cut taken by the banks in the form of a waiver of interest accrued, for the debt -ridden companies which are sought to be revived under the Insolvency and Bankruptcy Code (IBC) ....

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No repealment of Presidency Towns Insolvency Act, 1909’ & Provincial Insolvency Act, 1920

Corporate Law - Stakeholders who intend to pursue their insolvency cases may approach appropriate authority/court under the existing enactments, instead of approaching the Debt Recovery Tribunals (DRTs)....

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RBI Can ask any bank to initiate insolvency resolution process in respect of a default

Corporate Law - Ordinance {Banking Regulation (Amendment) Ordinance, 2017} has been promulgated on 4th May 2017 authorizing RBI to issue directions to any banking company to initiate insolvency resolution process in respect of a default, under the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC) An Ordinance {Banking Regulation (Amendment) Or...

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Whether dispute raised by OC is bar for acceptance of petition under IBC

Anil Steels V. A.D. Electro Steel Co. (P.) Ltd (NCLT Kolkata Bench) - Whether Corporate Debtor can bar the NCLT to accept the petition of Operational Creditor by raising a dispute on the Demand Notice...

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Whether Insolvency Proceedings can be initiated against Guarantor

IDBI Bank Ltd. V. BCC Estate (P.) Ltd (NCLT Ahmedabad) - Whether Creditor can file application against Corporate Guarantor in case of default by Principle Debtor and petition against principle debtor has already been admitted under the Insolvency & Bankruptcy Code, 2016....

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Suspension of powers of Board of Directors under IBC, Bane or Boon?

M/s. Innoventive Industries Ltd. Vs. Versus Icici Bank & Anr. (Supreme Court) - According to us, once an insolvency professional is appointed to manage the company, the erstwhile directors who are no longer in management, obviously cannot maintain an appeal on behalf of the company. ...

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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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Lodging of tax arrear claim in respect of corporate cases filed under IBC- 2016 before NCLTs– reg

F.No. DIT(R)/BIFR/2017-18/1003 - (08/11/2017) - Kindly refer to this office letters F No DIT(R)/BIFR/2017-18/813 dated 03-10-2017 and F.No. DIT(R)/BIFR/2017-18/895 dated 17-10-2017 on the captioned matter....

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IBBI (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2017

Notification No. IBBI/2017-18/GN/REG019 - (07/11/2017) - These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2017....

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Clarification on approval of resolution plans U/s. 30 & 31 of IBC, 2016

General Circular No. IBC/01/2017 - (25/10/2017) - Clarification has been sought by stakeholders as to whether approval of shareholders/ members of the corporate debtor/ company is required for a resolution plan at any stage during the process for its consideration and approval as laid down under sections 30 and 31 of the Insolvency and Bankruptcy C...

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Govt delegates power related to valuation of assets by registered valuers to IBBI

F. No. 1/27/2013-CL-V(Part-I) - (23/10/2017) - Central Government hereby delegates the powers and functions vested in it under section 247 of the said Act to the Insolvency and Bankruptcy Board of India, subject to the condition that the Central Government may revoke such delegation of powers or it may exercise the powers under the said section,...

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IBBI (Fast Track Insolvency Resolution Process for Corporate Persons) Second Amendment) Regulations, 2017

Notification No. IBBI/2017-18/GN/REG017 - (05/10/2017) - No. IBBI/2017-18/GN/REG017 These regulations may be called the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2017....

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bankruptcy code’s Popular Posts

Recent Posts in "bankruptcy code"

Insolvency & Bankruptcy Code – New Law on Horizon Of India

This law which I am going to discuss is mainly for the benefit of Individual to Corporate Sector who are dealing with the Corporate Sector i.e. Public Limited Companies, Private limited Companies & Limited Liability Partnerships( LLPs)....

Read More
Posted Under: Corporate Law |

Lodging of tax arrear claim in respect of corporate cases filed under IBC- 2016 before NCLTs– reg

F.No. DIT(R)/BIFR/2017-18/1003 (08/11/2017)

Kindly refer to this office letters F No DIT(R)/BIFR/2017-18/813 dated 03-10-2017 and F.No. DIT(R)/BIFR/2017-18/895 dated 17-10-2017 on the captioned matter....

Read More

IBBI (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2017

Notification No. IBBI/2017-18/GN/REG019 (07/11/2017)

These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2017....

Read More

Clarification on approval of resolution plans U/s. 30 & 31 of IBC, 2016

General Circular No. IBC/01/2017 (25/10/2017)

Clarification has been sought by stakeholders as to whether approval of shareholders/ members of the corporate debtor/ company is required for a resolution plan at any stage during the process for its consideration and approval as laid down under sections 30 and 31 of the Insolvency and Bankruptcy Code, 2016...

Read More

Timelines in Corporate Insolvency Resolution Process under Insolvency and Bankruptcy Code, 2016

Part II of Insolvency and Bankruptcy Code, 2016 deals with insolvency resolution and liquidation for corporate persons. The actual work will be mostly handled by 'resolution professional' under supervision of NCLT...

Read More
Posted Under: Corporate Law |

The Interim Insolvency Resolution Professional’s ‘Russian Roulette’

The Insolvency and Bankruptcy Code 2016 (Code), which became law in May 2016, is looked upon by both the business and the professionals with a lot of expectations. It is natural that like many new things, this code too is to settle down and it is one of its kinds. ...

Read More
Posted Under: Corporate Law |

Govt delegates power related to valuation of assets by registered valuers to IBBI

F. No. 1/27/2013-CL-V(Part-I) (23/10/2017)

Central Government hereby delegates the powers and functions vested in it under section 247 of the said Act to the Insolvency and Bankruptcy Board of India, subject to the condition that the Central Government may revoke such delegation of powers or it may exercise the powers under the said section, if in its opinion such a course of acti...

Read More

An easy understanding of Insolvency & Bankruptcy code 2016

The Insolvency and Bankruptcy Code, 2016 (the Code) passed by the Lok Sabha on 5th May 2016 seeks to provide a framework for time-bound settlement of insolvency by formulating a survival mechanism or by ensuring speedy liquidation through a formal insolvency resolution process (IRP)...

Read More
Posted Under: Corporate Law |

Insolvency and Bankruptcy Code, 2016 -A Critical Analysis

This article makes a critical analysis of Insolvency and Bankruptcy Code, 2016 (IBC in short) by highlighting the key parts of the Code and assess its likely impact on the Indian debt market and what does the new Code contain and how effective will it be in promoting the efficient and timely resolution of insolvent entities?...

Read More
Posted Under: Corporate Law |

IBBI invites public comments on two Draft Insolvency rules

IBBI invites public comments on (i) Draft Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Individuals and Firms) Rules, 2017, and (ii) Draft Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Individuals and Firms) Regulations, 2017 by 31st October, 2017. ...

Read More
Posted Under: Corporate Law |
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