Corporate Law : The framework permits liquidation only where the company has not defaulted on debts and can pay liabilities. It ensures a clean an...
CA, CS, CMA : The High Court ruled that retrospective cancellation of GST registration is invalid if such action is not proposed in the original...
Corporate Law : Explains how the 2025 amendment removes going-concern sales from liquidation. Highlights the shift toward speed and finality over ...
Corporate Law : IBBI Regulations 32 & 32A for liquidation: defines asset sale modes and prioritizes selling the business as a going concern to max...
Corporate Law : Understand secured creditor rights under IBC Section 52 during liquidation: relinquish security to the estate or realize independe...
Corporate Law : The amendments replace the consultation committee with CoC oversight, giving creditors greater control over liquidation decisions....
Corporate Law : The proposal focuses on enabling creditors to initiate resolution while retaining debtor management under supervision. It sets out...
Corporate Law : The amendments arise from the inclusion of a unified “service provider” definition under the Code. The move expands regulatory...
Corporate Law : The issue addressed is ambiguity in authentication and evidentiary value of financial information in insolvency cases. The propose...
Corporate Law : The proposal aligns grievance regulations with the newly introduced definition under the amended Code. It aims to ensure uniform a...
Company Law : NCLAT Delhi held that each and every commercial transaction which has resulted in loss may not be labelled as fraudulent or to hav...
Company Law : The appellate tribunal quashed orders permitting bankruptcy against personal guarantors after a creditor consented to grant additi...
Company Law : NCLT Allahabad held that financial creditor duly established existence of financial debt and default thereon on the part of the Co...
Company Law : The tribunal held that the resolution plan was invalid because several valuable properties were omitted from the Information Memor...
Company Law : NCLAT Delhi held that Prospective Resolution Applicant or unsuccessful Resolution Applicant doesn’t have vested right to challen...
Corporate Law : The issue was whether IBBI must provide data held by a regulated entity. The Authority held that RTI applies only to information h...
Corporate Law : The appeal found that the RTI response was delayed beyond statutory timelines. The key takeaway is that delay breaches RTI provisi...
Corporate Law : The issue was whether an RVO could grant conditional enrolment to an unqualified applicant. The authority held that such enrolment...
Corporate Law : The amendment allows financial creditors to directly initiate insolvency with prior approvals, reducing delays. It ensures faster ...
Corporate Law : The study found that most MSME insolvency cases are resolved before admission, highlighting gaps in data and process efficiency. I...
Insolvency and Bankruptcy Board of India 12th May, 2019 Discussion Paper Amendments to the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016. The Insolvency and Bankruptcy Code, 2016 (Code) provides for a class of regulated professionals, namely, Insolvency Professionals (IP), who constitute one of the four key pillars of the insolvency regime, other three […]
IBBI Discussion Paper on Amendments to (i) the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017; and (ii) the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016.
Discussion Paper on Corporate Insolvency Resolution Process along with Draft RegulationsThis discussion paper assimilates the suggestions received on public portal, suggestions by mail /letters, suggestions received in round tables and the emerging jurisprudence.
Invitation of Public Comments on the draft Insolvency and Bankruptcy (Application to Adjudicating Authority for Bankruptcy Process for Personal Guarantors to Corporate Debtors), Rules, 2019. Government of India Ministry of Corporate Affairs File No. 30/21/2018- Insolvency Section Dated: 8th May, 2019 Invitation of Public Comments on the draft Insolvency and Bankruptcy (Application to Adjudicating Authority […]
Limited Liability Partnership may be wound up in the following ways: 1. Voluntary Winding up 2. Insolvency and Bankruptcy Code (IBC), 2016: Though this code pro- vides steps for restructuring and revival of Corporate Debtor (LLP) yet under certain circumstances NCLT can pass order for liquidation of LLP. Therefore, it is included under the modes […]
The Insolvency and Bankruptcy Code, 2016 (Code) provides for a market mechanism for rescuing, failing but viable corporate debtors (CDs) and liquidating, failing and unviable ones. There is no precise mathematical formula, however, to identify a CD as an unviable one.
Temporary surrender of professional membership creates inconveniences where the IP is:(a) conducting a process – corporate insolvency resolution, corporate liquidation, individual insolvency resolution and individual bankruptcy – under the Code;(b) is acting as an authorised representative representing any class of financial creditors;
The BLRC Report proposed the introduction of a Comprehensive Code on Insolvency and Bankruptcy which provides for a comprehensive reform, covering all aspects of insolvency and bankruptcy along with an aim for a time bound resolution mechanism in order to maximise the value of assets of all stakeholders. It is aimed to be efficient, cost effective, procedure driven and handled by properly trained insolvency professionals.
The Insolvency and Bankruptcy Code, 2016 (Code) envisages reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximisation of value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all stakeholders.
MEANING OF FINANCIAL CREDITOR Financial Creditor means any person to whom a financial debt is owed and includes a person to whom such debt has been legally assigned or transferred to. HOW THE FINANCIAL CREDITOR FILE APPLICATION TO NATIONAL COMPANY LAW TRIBUNAL (NCLT)? The process for filing application by a financial creditor is defined under […]
